The form and logic -- The philosophy -- Excitement -- Data that makes sense -- Financial statements -- The balance sheet -- Balance sheet structure--fixed assets -- Balance sheet structure--liabilities -- Balance sheet terms -- Profit and loss account -- Working data -- The US Consolidated Company -- Sectoral/geographical data -- Operating Performance -- Measures of performance -- Relationships between the balance sheet and profit and loss account -- The ratios 'return on total assets' and 'return on equity' -- Balance sheet layouts -- Operating performance -- Return on investment (ROI) -- Return on equity (ROE) -- Return on total assets (ROTA) -- Standards of operating performance -- Performance drivers -- Operating performance -- Operating profit model -- Corporate Liquidity -- Cash flow cycle -- Corporate liquidity -- The cash cycle -- Measures of liquidity--long and short analysis -- Liquidity -- Short-term liquidity measures -- Current ratio -- Quick ratio -- Working capital to sales ratio -- Working capital days -- Financial strength -- Interest cover -- 'Debt to equity' ratio (D/E) -- Leverage -- Cash flow -- The cash flow statement -- Sources and uses of funds--method -- Opening and closing cash reconciliation -- Long and short analysis -- Financial reporting standards -- Determinants of Corporate Value -- Corporate valuation -- Share values -- Financial leverage and corporate valuation -- V chart -- Market to book ratio -- Growth -- Analysis -- Growth equilibrium -- Application to acquisitions.