How can anyone tell how well a company is managed and performing? In this completely revised fourth edition, noted academic and consultant Bob Vause provides the benchmarks to answer: Which ratios and indicators should be used to assess performance? What can be done to massage (and decode) company results? How can companies operating in different sectors or even different countries be compared? How can danger signs on the corporate horizon be spotted? Clear and well informed, Guide to Analysing Companies will help investors, analysts, and students understand and uncover a business's true worth and performance.

The annual report - and what underlies it p. 3
The balance sheet p. 30
The income statement p. 61
The cash flow statement p. 89
Other statements p. 111
Guidelines for financial analysis p. 117
Measuring profitability p. 129
Measuring efficiency p. 157
Working capital and liquidity p. 178
Capital and valuation p. 205
Strategy, success and failure p. 235
Practical examples of ratio analysis p. 269