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Published in the year 1991, How To Read Annual Reports & Balance Sheets is a book that provides the readers with insights into understanding the annual reports and balance sheets of a company. Summary Of The Book Annual reports are detailed reports of a firm’s activities in the year gone by. The main purpose of annual reports is to provide shareholders and other interested parties with an insight into the financial performance of the firm. However, comprehending annual reports are very difficult, due to which most individuals avoid stepping into this arena. Through the course of this book, How To Read Annual Reports & Balance Sheets, renowned financial expert, Raghu Palat, aims to help the readers gain key insights into reading financial reports and balance sheets. In this book, Palat explains a number of crucial concepts pertaining to annual reports and balance sheets, which include the audit report, financial statements, and the director’s report. In most cases, individuals often consider the net income, presuming everything is fine, if it has increased and a dividend is paid. However, Palat’s take on this issue is entirely different. He explains that the principles of accounting are now different, as the provisions have been altered, and that accounting theory is modeled by firms with the intent of generating profits out of nowhere. Palat’s clear writing style helps debunk myths associated with understanding financial statements and helps the readers comprehend the freshness of creative accounting. How To Read Annual Reports & Balance Sheets is a must-have for students, businessmen, managers, and investors, as it offers practical guidance on understanding the annual reports and balance sheets of an organization. About Raghu Palat Raghu Palat is an author and investor. Palat has written How To Manage Foreign Exchange Risk, Tax Planning For Salaried Employees, and Understanding Financial Ratios In Business. Palat currently serves as the MD of Cortlandt Rand Consultancy Private Ltd. He has worked at senior levels in a number of multinational banks in India, America, Asia, Africa, and Europe. He currently works as a consultant for several banks and also handles www.bankingrules.com, which is dedicated towards the rules and regulations pertaining to banks, corporates, commerce, and finance. Palat has also played a key role in starting www.ibbc.co.in, which is a portal for e-learning. Palat has authored more than 35 books and has contributed to several research journals. He currently resides in Mumbai, along with his wife and their two daughters.