All of the components needed by readers of the financial pages or beginner business students to understand the real meaning of published numbers are explained in this guide. This revised and updated edition takes into account the reasons behind the downfall of HIH Insurance, a leading Australian insurance company; the latest trends in retailers' vital statistics; and the problems with accounting for abnormal items. Starting with the annual report and the balance sheet and continuing through assets and liabilities, the profit and loss account, and tax and cash flow, this is a complete how-to to understanding business facts and figures.

Trevor Sykes is the creator of the “Pierpont” column, which appeared in the Financial Review and in the Bulletin. He is the author of The Bold Riders, The Money Miners, and Two Centuries of Panic.