One should also analyze financial statements and footnotes to understand whether companies have hidden assets (e.g., investments in other companies) that are potentially unnoticed by the market.

Passive - to analyze actions and statements of others with regard to stratagem usage.

Even though forensic accountants need to analyze and compare financial statements most cases of fraudulent activity will not be in plain sight.

For example, the final rules allow persons with experience preparing, auditing, analyzing or evaluating financial statements, or active supervision over those activities, to qualify.

Recent accounting scandals have punished many value funds, even though value managers are known for being cautious investors who thoroughly analyze financial statements.

Unsophisticated users may lack knowledge and technology to be able to analyze such complicated financial statements and reports.

Seminars on starting and running inns usually combine such topics as selecting and negotiating for a site and analyzing financial statements with observation of a working operation.

Mr. Olstein, a 37-year market veteran, is a master of analyzing financial statements and spotting anomalies that understate or overstate performance.

The Search for Talent Hyperion is now looking for lending officers with the skills to analyze financial statements and evaluate risk.

"We are closely analyzing statements made by Washington to the effect that there is no alternative to a military solution," Mr. Ivanov said.