This book aims to explain the readers how to read, understand, analyse and interlink the voluminous information available in the financial statementwith the help of charts, case analysis, etc. In other words, this book provides in-depth analysis, stepwise approach with the use of case analysis, to understand & decode the financial statements.This book extensively deals with the following issues & suggests on how they can be mitigated through proper analysis of financial statements:Laxity in credit risk appraisal and loan monitoring in banksLack of appraisal skills for projects that need specialised skills, resulting in acceptance of inflated cost or aggressive projections etc. How to find out frauds, wilful default, diversion of funds How to find out early warning signs based on proper analysis of financial statementsThe entire concept of decoding of financial statement has been divided into six keys:Key #1 deals with Statement of Profit & Loss Key #2 deals with Balance SheetKey #3 deals with Concept of Audit and Auditors ReportKey #4 relates to Companies Auditors Report OrderKey #5 is used for decoding Connecting Statements, and Key #6 is the Master KeyThe Present Publication is the 3rd Edition, authored by G.C. Pipara, with the following noteworthy features:[Reading between the lines of Financial Statements] and correlating relevant information with proper analysis, using the Authors experience[How to Hone your Skills] to dissect financial statements with surgical precision[Unlocking the Mysteries & Tricks] by explaining how to analyse the various details & detect what has been disclosed and not[Focused Analysis] to find out strengths, early warning signs, frauds, creative accounting, genuineness of various items, etc.o How to read the balance sheet beyond what is visible on the surfaceo How to analyse the informationo How to correlate the various details available[Professional Oriented Book] This book has been developed, keeping in mind the following factors: o Interaction of the author during his trainings to various banks and organisations on credit and analysis of financial statementso Shaped by the authors experience of 38+ years being a chartered accountant, research analyst and fraud investigatoro Reaction and responses of attendees during the trainings, have also been incorporated at different places in the book[New Chapter on CARO 2020] has been considered in detail under Key #4 | The Companies Auditors Report Order. [Updated & Amended] All changes made in the Companies Act and latest position as at the end of March 2021 has been considered in this bookThe detailed contents of the book are as follows:Statement of Profit & Losso Revenue from Operationso Other Incomeo Cost of Materials Consumed and Purchases of Traded Goodso Manufacturing and Operating Costo Finance Costo Depreciationo Tax Expenseo Other Expenseso Exceptional Items, Extraordinary Items and Prior Period Itemso Property, Plant and Equipment - Tangibleo Fixed Assets - Intangibleo Investmentso Loans & Advanceso Other Assetso Inventories and Trade Receivableso Cash, Cash Equivalent and Bank Balanceso Advances Recoverable in Cash or Kind or for Value to be Receivedo Shareholders Funds or Net Worth or Capitalo Provisions & Contingent Liabilitieso Borrowingso Trade Payables and Other LiabilitiesConcept of Audit and Auditors Reporto Understand the Audito Report on Internal Financial Controlso Analysis of Opinionso Analysis of Emphasis of Matters/NoteCompanies Auditors Report Ordero Control over Resourceso Related Party Transactionso Legal Complianceo Statutory Dueso Financial Health of the Companyo End Use of Fundso Whistle Blowero Resignation of Statutory AuditorConnecting Statemento Significant Accounting Policieso Notes on Accountso Cash Flow StatementsMaster Keyo How to Link 5 Key to Decode Financial Statement About the Author G.C. Pipara is a practicing Chartered Accountant hold