How to Read a Financial Report

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1、HOWTOREADAFINANCIALREPORTTABLEOFCONTENTSINTRODUCTION............................INSIDEFRONTCOVERHOWTOREADAFINANCIALREPORT...........................1AFEWWORDSBEFOREBEGINNING............................3CONSOLIDATEDFINANCIALSTATEMENTS..........................4TH

2、EBALANCESHEET......................................8JUSTWHATDOESTHEBALANCESHEETSHOW?....................22THEINCOMESTATEMENT..................................26ANALYZINGTHEINCOMESTATEMENT...........................30THESTATEMENTOFCHANGESINSHAREHOLDERS’EQUITY....

3、.........36THESTATEMENTOFCASHFLOWS.............................39ADDITIONALDISCLOSURESANDAUDITREPORTS...................40THELONGVIEW.......................................42SELECTINGSTOCKS......................................43GLOSSARYOFSELECTEDTERMS..........

4、....................44INTRODUCTIONKnown“fromWallStreettoMainStreet”—andworldwide—MerrillLynchisagloballeaderinthefinancialservicesindustry.Asapublicservice,MerrillLynchwantstosharesomeofitsexpertisein,andknowledgeof,financialreportingthroughthisbooklet.Wehopethi

5、sbookletwillserveasavaluableresourcetohelpreaderslearnhowtoreadandanalyzeacompany’sannualreport.Throughit,readerscanlearnthatanannualreportisnotjustajumbleofnumbersandmind-numbingdata.Readwithunderstandingandanalyticalinsight,thenumbersanddatainanannualreportcan

6、tellaninteresting,meaningfulandfascinatingstory.HOWTOREADAFINANCIALREPORTGOALSOFTHISBOOKLETdollartermsandconsistsofthe“Management’sDiscussionandAnannualreportisunfamiliarterrainAnalysis”and“AuditedFinancialtomanypeople.ForthosewhoarenotStatements.”Itmayalsoconta

7、inaccountants,analystsorfinancialplanners,supplementalfinancialinformation.thisbookletcanhelpthemtobetterunder-standsuchreportsandpossiblybecomeInManagement’sDiscussionandAnalysismoreinformedinvestors.(MD&A),acompany’smanagementexplainsallsignificantchangesfromT

8、hisbookletwaswrittenanddesignedyeartoyearinthefinancialstatements.tohelpeducateandguideitsreadersAlthoughpresentedmainlyinnarrativesotheymight:format,theMD&Amayalsoin