Hidden somewhere among all the numbers in a financial report is vitally important information about where a company has been and where it is going. This is especially relevant in light of the current corporate scandals. The sixth edition of this bestselling book is designed to help anyone who works with financial reports--but has neither the time nor the need for an in-depth knowledge of accounting--cut through the maze of accounting information to find out what those numbers really mean.;Starting with cash flows -- Two bedrock financial statements -- Reporting cash flows -- Fitting together financial statements -- Sales revenue and accounts receivable -- Cost of goods sold expense and inventory -- Inventory and accounts payable -- Operating expenses and accounts payable -- Operating expenses and prepaid expenses -- Depreciation expense and property, plant, and equipment -- Accruing liability for unpaid expenses -- Income tax expense and its liability -- Net income and retained earnings, and earnings per share ( E P S ) -- Cash flow from operating (ProfitSeeking) activities -- Cash flows from Investing and financing activities -- Footnotes and management discussions -- Financial statement ratios and analysis -- Financial engineering -- CPAs and financial reports -- Basic questions, basic answers.