Cash Flow Analysis and Forecasting: The Definitive Guide to Understanding and Using Published Cash Flow Data (The Wiley Finance Series) Hardcover – 17 Feb. 2012

While there are a lot of books in the market that teach you the philosophy of value investing and strategy, there are very very few that actually guide you in a systematic way to analyze businesses. I've read around 60 investment books in the past seven months, and I would definitely say that this book has to be right at the top of the list in terms of the amount of actual analytical skills that it teaches you to study businesses. In fact, I gained many times more from this book than from McKinsey's or Aswath Damodaran's famous books on valuation (which are worth reading nevertheless). While the book concentrates solely on the cash flow statement, with little attention to the balance sheet or the income statement, I don't think it's a significant drawback considering the fact that 'cash is king'. If this book doesn't deserve a five star, nothing else does. Read it!

I have read other books addressing cash flow but this one is so superior that I'm compelled to state that there's a clear difference in kind, not just degree, when compared to other texts. The author sets forth in the Introduction (which I strongly encourage all to read online to get a true sense of the scope of the text) his aims which are to instruct the reader in a complete understanding of the cash cycle in any business and to be able to restate those cash flows in a standard template to sweep away inconsistencies and irregularities in reporting so that the actual cash flows are made evident. Topics covered include the working asset cycle, fully worked examples restating both IAS and US GAAP cash flows, proper spreadsheet modeling and risks (the latter a first in any text I'm aware of), understanding cash flows in growth, mature, and declining businesses, ... these are just a few of the insightful chapters I've digested, worked the examples, and enjoyed. The author writes in a lucid, even compelling manner and, given the absolute clarity of the presentation, there's no question he has mastery of accounting, the English language, and pedagogy; one can write obscurely when the topic isn't completely understood but clear, detailed explanations with worked examples are only a result of deep experience in the field. In closing, this is an eminently practical book that deserve not only a place on every practitioner's bookshelf but on their desk as a working guide to cash flow analysis.

This book provides the reader with a method and (!) the tools for analysing cash flow statements. It's clear and concise language as well as the discussion of very basic and fundamental tenets of "doing business" throughout (and the complete lack of footnotes or references) should not deceive the reader. This is neither a quick read nor a superficial or simplistic treatment of the subject. Very much to the contrary: You can actually acquire real analytical skills through the study of "Cash Flow Analysis and Forecasting" and apply them in the real world. This is the main feature and main contribution of Timothy Jury's treatise and makes it very valuable. It will enable you to better understand (at least a significant part of) "the background story" of a company's actual and historical cash flows. Unlike some other treatises, "Cash Flow Analysis and Forecasting" is NOT a collection of (at best: instructive) anecdotes or "warning signs" regarding the analysis of financial statements. This makes it a quite unique contribution to the field. And so it does not come as a surprise that the author has also devised a unique approach of teaching the subject. I have run seminars on "Financial Covenants" in the past five years (no connection with the author or his firm by the way) and against the backdrop of my experience I would submit that the author must have spent considerable time and thought in devising his novel approach in teaching the subject. Why ? Because it looks so simple and is so effective at the same time. Read his treatise twice (at least). It is worth it.

I am studying to become a CPA so i bought this book on the promise that i will develop my skills and understanding on corporate cash flow analysis.Unfortunatelly, the book explains only the basic ideas on cash flows and can be better described as an introduction rather than as an in depth analysis.To people unfamiliar with the subject can be a good choice