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All firms public or private, use financial statements in some form. Do you use any of...

All firms public or private, use financial statements in some form. Do you use any of these forms in your job? If so, can you give some tips on how they are used to make real-world business decisions in your firm. I really like to get everyone sharing their experience and just hearing about life in other area businesses.

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My job as an Equity Research Analyst revolves around using financial statements. In Equity Research, we cover stocks, i.e. monitor the company's performance, prepare a working model where in we forecast the future cash-flows of the company and using a combination of various methodologies, including DCF, Relative valuation, we arrive at a target price of the company and based on that we give recommendations as to rate the company as Buy, Sell or Hold. When we prepare the models, we have estimates for the Income Statement, CashFlows and Balance Sheets. Now when the company reports their quarterly and annual results, we replace the estimates with actuals. Hope this helps!

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