Paper Summary:

This paper reviews and analyzes David Harper's 2009 article entitled "Financial Statements: Introduction." According to the review, it is important to understand the issues that surround financial statements, because analyzing them will not work without a clear understanding of what is being looked at and how it all goes together. The advantages of studying and analyzing financial statements are also discussed in the paper. Additionally, the review describes the format of the article. The reviewer generally agrees with Harper's approach, and acknowledges the caveats that Harper mentions. The paper concludes by citing Harper's outlook that the financial statement as a whole is what matters, and that is why an analysis of a financial statement must take everything into account.

From the Paper:

"I agree with the viewpoint of the author, and I am not the only person who appears to feel that way. A similar article on the Accounting for Management Web site is similar in nature in that it indicates the significance of paying attention to financial statements and actually understanding what they are saying so that investments can be made wisely (Financial, 2009). If one does not know what the financial information means, one cannot make a rational decision as to whether that information is good or bad when it comes to investing.
"Harper's (2009) article is divided into sections and each of those sections addresses a specific issue. That is very important, since trying to learn about everything all at once can be very confusing and can lead to a decision that is not the best for the investor or for anyone who is studying the financial statements of a company for any reason at all. That is worth noting and paying attention to, because not all financial statement articles - especially those that talk about analysis - are broken up into sections that are easily digestible and that make enough sense to be accessible to everyone who reads them."

Sample of Sources Used:

• Financial Statement Analysis (2009) Accounting for Management. http://www.accountingfor management.com/accounting_ratios.htm
• Harper, D. (2009). Financial Statements: Introduction. Investopedia. http://www.investopedia. com/university/financialstatements/Default.asp?&viewed=1

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