This collection of financial accounting cases is designed to help learners become financial statement" users." Each case utilizes financial statement information (balance sheet, income statement, statement of cash flow and/or footnotes) and a number of topical questions. KEY TOPICS" Readers use the financial statement information to infer and interpret the economic events underlying the numbers. Related articles taken from business publications accompany some cases, and information from the articles is incorporated into the case question material. For working professionals studying for the CFA exams.

I. BECOMING FAMILIAR WITH FINANCIAL REPORTING: BASICS, TOOLS, AND THE PERSISTENCE OF EARNINGS. 1. BasicsInterpretation and Preparation of Financial Statements. ASICS CorporationUnderstanding Financial Statements. NikeBasic Ratio Analysis. Yokohama Rubber and Goodyear TireComparing Ratios. Fuji Photo Film and Eastman KodakInferring Transactions. Club Mediterranee S.A.International GAAP. Food Lion, Inc.Preparation of Financial Statements. Taiwan Semiconductor Manufacturing CompanyTransactions and Periodic Adjustments. Abercrombie and FitchTransactions and Financial Statements. 2. ToolsDiscounted Cash Flow. MayaReturn on Investment. Hydron Technologies CorporationLease or Buy. 3. ToolsBasic Valuation and the Persistence of Earnings. Maple Leaf GardensValuation. Pharmacia CorporationPersistence of Earnings. 4. ToolsCash Basis versus Accrual Basis Reporting. Frederick's of HollywoodStatement of Cash Flows. Weis Markets, Inc.Statement of Cash Flows. Mayor's Jewelers Inc.Statement of Cash Flow. II. EVALUATING FINANCIAL REPORTING DISCLOSURES: BALANCE SHEET COMPONENTS AND ISSUES IN THE QUALITY OF EARNINGS. 5. Assets. LucentRevenue Recognition. AlcatelAccounts Receivable. Whole Foods Market, Inc.Inventory. Frederick's of HollywoodProperty and Equipment. WorldCom Inc.Capitalizing Costs. Merck & Co., Inc.Research and Development. eBayAcquired Intangible Assets. America Online, Inc.Deferred Costs. 6. Liabilities. BASFContingencies and Provisions. Maytag CorporationWarranties and Deferred Taxes. Bally Entertainment CorporationLong-Term Debt. The Home DepotLong-Term Debt. AMR CorporationLeases. The Robert Mondavi CorporationDeferred Taxes. Bethlehem SteelPost Retirement Obligations. 7. Owners' Equity. The Dow Chemical CompanyTreasury Stock. XilinxEmployee Stock Options. 8. Intercorporate Investments. WachoviaMarketable Securities. BCE Inc.Investments in Other Companies. The Seagram CompanyInvestments in Common Stock. 9. Financial Statement Analysis. Boston Beer & Lion BreweryFinancial Statement Analysis.