Financial statements are the basis for a wide range of business analyses. Managers use them to monitor and judge their firms’ performance relative to competitors, to communicate with external investors, to help judge what financial policies they should pursue, and to evaluate potential new businesses to acquire as part of their investment strategy. Securities analysts use financial statements to rate and value companies they recommend to clients. Bankers use them in deciding whether to extend a loan to a client and to determine the loan’s terms. Investment bankers use them as a basis for valuing and analyzing prospective buyouts, mergers, and acquisitions. And consultants use them as a basis for competitive analysis for their clients. Not surprisingly, therefore, there is a strong demand among business students for a course that provides a framework for using financial statement data in a variety of business analysis and valuation contexts. The purpose of this book is to provide such a framework for business students and practitioners. This IFRS Standards edition is the European adaptation of the authoritative US edition – authored by Krishna G. Palepu and Paul M. Healy – that has been used in Accounting and Finance departments in universities around the world. In 2007 we decided to write the first IFRS Standards edition because of the European business environment’s unique character and the introduction of mandatory IFRS Standards reporting for public corporations in the European Union. This fifth IFRS Standards edition is a thorough update of the successful fourth edition, incorporating new examples, cases, problems and exercises, and regulatory updates.

财务报表是各种商业分析的基础。管理者利用它们来监控和判断公司相对于竞争对手的表现，与外部投资者进行沟通，帮助判断他们应该采取什么样的财务政策，并评估作为其投资战略一部分的潜在新业务收购。证券分析师利用财务报表对他们向客户推荐的公司进行评级和估值。银行家们用它们来决定是否向客户发放贷款，并决定贷款的条件。投资银行家将其作为评估和分析潜在收购、合并和收购的基础。而咨询师则将其作为客户竞争分析的基础。因此，毫不奇怪，商科学生对提供在各种商业分析和估价环境中使用财务报表数据框架的课程有着强烈的需求。本书的目的是为商科学生和从业者提供这样一个框架。国际财务报告准则（IFRS）标准版是由Krishna G.Palepu和Paul M.Healy编写的权威美国版的欧洲版本，该版本已在世界各地大学的会计和财务部门使用。2007年，由于欧洲商业环境的独特性以及欧盟对上市公司采用强制性IFRS标准报告，我们决定编写第一个IFRS标准版。国际财务报告准则第五版是对成功的第四版的全面更新，包括新的例子、案例、问题和实践以及监管更新。