This document provides a guide to reading cost-benefit analysis reports. It outlines a 4-step process: 1) get your bearings by identifying the bottom line and what is covered, 2) survey the landscape by understanding the data, perspectives, and breakdown of costs and benefits, 3) look at the details such as costs, time periods, and impacts not monetized, and 4) make sense of uncertainties, limitations, and how everything adds up. The guide is illustrated using a cost-benefit analysis of the Center for Employment Opportunities transitional jobs program.