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The formulation of sound business decisions be it in the sphere of investing, financing or operational aspect, necessitates a solid ground and a solid basis. It is true that the economic as well as the industry landscape should be taken into consideration in formulating business decisions. After going over said phase of analysis, the "financials" of a specific firm should be analyzed.
The above requires the calculation of financial ratios which could tell the real "story-line" concerning the firm's financial health; that is, interpreting the meaning of the financial statements and knowing "what do the numbers mean?" Existing and potential problems in the sphere of liquidity, solvency, profitability, and operational aspects of the firm could then be diagnosed – the prequel towards the crafting of decisions that could solve the problem and/or enhance current financial conditions.
Financial statement analysis, with all of its mathematical elegance, is not an abstract art. It should be put to use in real business situations. CPAs, analysts, business owners, and managers should have an understanding and an appreciation of the usefulness of financial statement analysis and its linkage towards the formulation of economic decisions. It is for this reason that this module is hereby being proposed.
