How to read a financial report

Just thought I would post these links here after seeing that many people despite investing their life savings on the ASX don't know how to read a basic financial report. This can result in massive losses when their shares they buy for 12 cents are later sold for 5 cents.

These links are just the top 4 I got from google when I typed in "how to read financial reports" but I think they are a good start.


http://www.investopedia.com/articles/basics/06/financialreporting.asp
http://www.sec.gov/investor/pubs/begfinstmtguide.htm
http://www.dummies.com/how-to/content/reading-financial-reports-for-dummies-cheat-sheet.html

Hope many things can get cleared up.