Many find that financial statement analysis and valuation are two distinct and very difficult disciplines. It is hard to blame them. The business language of accounting and finance is characterized by an enormous number of ‘buzz-words’ and abbreviations. Examples of typical accounting and finance jargon includes EBIT, EBITDA, return on invested capital, profit margin, asset turnover, DCF-model, EVA-model, WACC, and multiples to name a few. This book tries to demystify financial statement analysis and valuation. It focuses on the overall drivers of value: Growth, performance or profitability and risk. The book includes chapters on: • Financial statements • Profitability analyses and financial ratios • Common valuation models • The cost of capital The book is designed so you as a businessman can benefit from it by using it as a practitioners’ handbook. The authors Anni Haraszuk, E-MBA, state-authorized public accountant and Christian V. Petersen, professor emeritus, MBA, Ph.D. are both highly experienced and have worked extensively in academia as well as in practice with auditing, financial analyses and valuation.