Fraser and Ormiston take readers behind the financial reports to assess the real financial condition and performance of U.S. companies. Understanding Financial Statementsretains its reputation for readability, concise coverage, and accessibility, and gives readers the conceptual background and analytical tools necessary to understand and interpret business financial statements. Its ultimate goal is to improve readers'ability to translate financial statement numbers into a meaningful map for business decisions and enable each reader to approach financial statements with enhanced confidence.