CONTEMPORARY FINANCIAL STATEMENT ANALYSIS GUIDELINES, AN UPDATE
In light of the 2008 financial crises, widely reported criminal investment schemes, and the continuing (as of this writing, September 9, 2010) international financial malaise, corporate and transactional lawyers, as well as financial professionals, would be well advised to consider these guidelines when evaluating financial statements.
Some years ago, Basil P. Mavrovitis published financial statement analysis guidelines for use by credit professionals. Mavrovitis, Basil P."Fifty Thoughts on Financial Statement Analysis." Business Credit, Vol. 93, No 2. (Feb. 1991) p.10 et seq.
Using his 50 "thoughts" as a framework, this work extends the guidelines to encompass financial statement analysis for investment as well as credit decisions, and updates Mavrovitis' analysis in light of the contemporary focus on improved risk analysis and financial analytics.
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