This book has been written to help readers understand the financial statements of "Corporate" entities, which refers to any industrial, manufacturing, non-financial services, retail or goods trading firm of whatever legal structure. Corporate financial analysis focuses on determining the firm's ability to generate sufficient cash flow to cover its operational and non-operational commitments as they fall due: This is generally a function of what is called the "asset conversion cycle", which can be predicted. In addition to cash flow analysis, assessment of a Corporate firm's leverage (level of borrowing), liquidity and profitability are important. However cash generative a company may be, if it is loss-making over the longer term, it will not remain in business unless externally supported. In other words, over the longer term, a firm needs to make more money than it expends, and must satisfy owners' / investors' need for good returns. Prolonged losses also make external financiers (e.g. banks) nervous, leading to a lower level of borrowing potential for the firm. The extensive information in this book can be used by analysts and would-be analysts of all skill-levels to assist in the decision-making process for investments; credit analytical purposes, or other similar reasons.