Company Valuation Under IFRS : Interpreting and Forecasting ...

Further reading
Introduction
This book has consciously attempted to span gaps between discussion of
interpretation of accounts, company modelling, and valuation theory and
practice. Rather than offer the reader a lengthy list of academic sources, we shall
instead suggest a list of books that to our knowledge are in print and readily
available, to which the reader may be interested to refer for either additional
information, on or for a fuller representation of, ideas covered in this book. We
shall take the subjects in the same order as that in which they appeared in our text.
Corporate finance theory
The two texts that we would recommend in this area are the following:
• Financial Theory and Corporate Policy, Copeland and Weston, Addison-
Wesley, 2004
• Principles of Corporate Finance, Brealey and Myers, Higher Education,
2002
The two books cover much the same ground, introducing all of the key
theoretical elements of modern finance theory. They differ in emphasis, with
Brealey and Myers offering more practical applications and intuitive explanation,
and Copeland and Weston being the more theoretical and mathematically
rigorous. Both offer extensive bibliographies for the underlying academic
articles.
Interpretation of accounts
Again, we recommend two books on this topic:
• Accounting for Investment Analysts: An International Perspective, Kenneth
M Lee, BG Training, 2004
• Interpreting Company Reports and Accounts, Holmes and Sugden, Financial
Times Prentice Hall, 2002
The second of the two is the latest edition of a very long-standing publication
which aims to introduce the reader to techniques for interpreting accounts, with
the emphasis being entirely on UK principles. The former, by one of the authors
of this book, takes a deliberately international perspective, and focuses more on
how accounts are constructed as the basis for understanding and interpretation.
As the title suggests it focuses very much on the role of the investment analyst in
understanding financials.
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