Hardcover: 256 pages
Publisher: Wiley; 1 edition (July 25, 2003)
Language: English
ISBN-10: 0471433470
ISBN-13: 978-0471433477
Product Dimensions: 6.3 x 0.8 x 9.2 inches
Shipping Weight: 1.1 pounds (View shipping rates and policies)
Average Customer Review: 4.5 out of 5 stars See all reviews (20 customer reviews)
Best Sellers Rank: #1,013,970 in Books (See Top 100 in Books) #119 in Books > Business & Money > Finance > Corporate Finance > Valuation #809 in Books > Textbooks > Business & Finance > Investments & Securities #860 in Books > Business & Money > Accounting > Financial
"Financial Fine Print", in my opinion, provides insufficient analytically challenging insights for those who work in the financial service industry, mainly as an Analysts or Portfolio Managers. However, for those who new to the financial statement / analysis process, the book is a decent primer to understand the importance of financial reports (i.e. footnotes). The biggest disappointment about the book was that it was over-hyped. The book not only read like it was hastily assembled but felt like a 30-page pamphlet of footnote tidbits stretched to 173 pages.Firstly, I completely disagree with the subtitle of the book: "Uncovering a Company's True Value" as it is misleading. Gaining information from Ms. Leder's book will not result in uncovering a company's **true** value. The book will allow the novice or untrained Analysts / PMs to focus on areas that may shed more light on the company's financial operating results, financial condition, and/or cash flow generating abilities. However, such cursory coverage of said materials is insufficient to arrive at a company's **true** value.Secondly, the writer fails to fully understand the analytics related to a majority of the subject matters. Allow me to use Chapter 8 that addresses off-balance obligations. On page 133, the writer describes a "Synthetic Lease" but fails to explain or differentiate the lease from any other FASB #13 operating lease. Second, on page 130, the writer tries to educate the reader on the importance of off-balance liabilities with the following remark: "... is to imagine how your bank account balance would improve if you didn't have to account for the monthly mortgage payment." However, her example is faulty and dangerously misleading.
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