We know that financial statements with all its details and complex reporting requirements sometimes become very difficult to read and comprehend. They say "Devil is in the details." Hence it is imperative to decipher the details of numbers: a)to understand what these numbers want to convey, b)arrive at conclusions as to the performance of the entity under review and c)draw broad perceptions as to the direction the organisation is moving, which means whether it is growth centric, whether it is drifting or whether there are chances that it can fail owing to certain inherent risks To make this study meaningful, the reader needs to have a fair understanding of some simple tools like, comparative analysis, ratio analysis and tools related to strategic cost management. To assist the readers to get a hang of these concepts, an attempt has been made to explain these financial analysis tools in very elementary terms with as many practical illustrations as possible. Chapter one to six have been devoted on these topics. In Chapter 7, the results of these financial tools have been assimilated into integrated Management Reporting in the form of Dash Boards. A lot of illustrations have been provided which will help the reader to create his own Executive Information System (EIS) or Financial Dash Board. Chapter 8,9 and 10 provides as logical extension to the above concepts, an overview on financial modelling, explains Internal Rate of Return (IRR), Net present value (NPV), economic value added (EVA) and business valuation techniques. Chapter 11 has been devoted to inorganic business growth through Merger & Acquisition and the relevant concepts have been explained in lucid form with lot of illustrations. Finally Chapter 12 provides a window which discusses decision making tools through Strategic Cost Management. In summary, the objective of this book has been to simplify the concepts and tools of financial analysis to make it readable, understandable and implementable with ease.