This well-structured and thoughtful book is ideal for master and bachelor students in accounting and finance, and MBA students wishing to gain insight into financial statement analysis. The second edition provides up-to-date insights and practical advises on how to apply companies' financial statements for decision making. Focusing on three user groups - equity, credit and compensation analysts - the authors present a variety of targeted tools and techniques for analysis and interpretation of financial statements. Along with updates of the most recent IFRS-accounting standards, this edition also contains new and updated real life examples - many from the Nordic countries - helping the readers understand complex issues when analyzing financial statements. Student tools such as quizzes and multiple choice questions have been updated, which improve the learning. The second edition is filled with expert guidance that students and managers at all levels have to come to trust.