Download or read book The Case for Reinventing Financial Reporting in the 21st Century written by Anup Srivastava and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors argue that financial reporting should be reinvented because of the changing nature of corporate capital, particularly the shift towards intangible assets held by 21st century winning companies such as Alphabet, Amazon, Apple, Meta, and Microsoft. GAAP-based reporting continues to work reasonably well for companies with physical assets such as factories, refineries, and warehouses. But GAAP has a lot of troubles, is totally deficient in capturing the value of mostly intangible resources used to produce products like vaccines, search services, and social media. For most knowledge-based companies, the reported book values of assets (the summary metric in balance sheet), and even the net earnings (the summary metric in income statement), have become largely useless for the decisions of investors, bankers, analysts, managers, and policy makers. This is evident from the companies that did their IPOs in the last 12 years, many of which command multibillion dollar valuations despite continuing to report losses year after year, and despite showing no operating assets on their balance sheets.
Download or read book Building Public Trust written by Samuel A. DiPiazza, Jr. and published by John Wiley & Sons. This book was released on 2002-09-18 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business reporting in a post-apocalypse global marketplace Clearly, now is the time for creating an effective business-reporting model appropriate for the markets of the twenty-first century. Rather than start from scratch after the Enron-Andersen fiasco, two leading consultants from PricewaterhouseCoopers present a plan that supplements the current model, one in which executives, accountants, analysts, investors, regulators, and other stakeholders can truly embrace the spirit of transparency. The Future of Corporate Reporting highlights the best practices for global financial reporting, explaining the concept of "performance auditing," which focuses on the real performance of the business as opposed to technical adherence to GAAS. Eccles and Masterson also discuss the pros and cons of GAAP v. IAS, present new approaches to reforming financial reporting, and outline a twenty-first-century model of accounting that will improve markets and benefit shareholders.
Download or read book Contemporary Issues in Financial Reporting written by Paul Rosenfield and published by Routledge. This book was released on 2006-04-18 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of Enron and other similar scandals, financial reporting and its relation to corporate governance has become a contentious issue. In this revealing book, author Paul Rosenfield involves the reader in exploring contemporary financial reporting and skilfully highlights the deficiencies in current methods. In doing so it provides a user-oriented guide to the salient issues which affect all aspects of financial accounting. Contemporary Issues in Financial Reporting challenges the reader to critically think through the issues and arguments involved in the practice of financial reporting. It goes to the heart of the most difficult and controversial problems, investigating the major issues and commenting upon the solutions offered in financial reporting literature. The grave defects in current accepted accounting principles are demonstrated and exposed, and alternative solutions are offered. Written by a former Secretary General of the International Accounting Standards Committee, practitioners and accounting scholars alike will find this volume to be an essential addition to their libraries.
Download or read book More Accounting Changes written by Robert Herz and published by Emerald Group Publishing. This book was released on 2016-09-12 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, More Accounting Changes, is a revised and updated edition of Herz’s earlier work, reflecting: developments in financial reporting; global developments regarding the use of International Financial Reporting Standards; current efforts at disclosure modernization and simplification by the SEC and FASB; and more developments in the field.
Download or read book Financial Reporting Handbook written by Michael R. Young and published by Aspen Publishers Online. This book was released on 2003 with total page 1824 pages. Available in PDF, EPUB and Kindle. Book excerpt: Never before has a single reference provided such quick access to every critical aspect of financial reporting. In addition to covering the new Sarbanes-Oxley legislation, SEC rules and regulations, and corporate governance standards promulgated by the Independence Standards Board and the AICPA at institutions such as New York Stock Exchange, NASDAQ, and the American Stock Exchange, the Financial Reporting Handbook tackles important underlying themes such as the centrality of the audit committee, the individual responsibility of executives, and the integrity of the outside auditor. Best of all, the Financial Reporting Handbook will be updated every quarter with the relevant laws and regulations that are developed and implemented.
Download or read book Disruption in Financial Reporting written by Krish Bhaskar and published by Routledge. This book was released on 2021-01-21 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the global financial crisis of 2007–8, new laws and regulations have been introduced with the aim of improving the transparency in financial reporting. Despite the dramatically increased flow of information to shareholders and the public, this information flow has not always been meaningful or useful. Often it seems that it is not possible to see the wood for the trees. Financial scalds continue, as Wirecard, NMC Health, Patisserie Valerie, going back to Carillion (and many more) demonstrate. Financial and corporate reporting have never been so fraught with difficulties as companies fail to give guidance about the future in an increasingly uncertain world aided and abetted by the COVID-19 pandemic. This concise book argues that the changes have simply masked an increase in the use of corporate PR, impression management, bullet points, glossy images, and other simulacra which allow poor performance to be masked by misleading information presented in glib boilerplate texts, images, and tables. The tone of the narrative sections in annual reports is often misleading. Drawing on extensive research and interviews with insiders and experts, this book charts what has gone wrong with financial reporting and offers a range of solutions to improve information to both investors and the public. This provides a framework for a new era of forward-looking corporate reporting and guidance based on often conflicting multiple corporate goals. The book also examines and contrasts the latest thinking by the regularity authorities. Providing a compelling exploration of the industry’s failings and present difficulties, and the impact of future disruption, this timely, thought-provoking book will be of great interest to students, researchers, and professionals as well as policy makers in accounting, financial reporting, corporate reporting, financial statement analysis, and governance.
Download or read book Cases in Financial Reporting written by Ellen E. Engel and published by . This book was released on 2012 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The State of Financial Reporting written by and published by . This book was released on 1991 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Case Studies in Advanced Financial Reporting written by John Casey (M.Sc.) and published by . This book was released on 2012 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The State of Financial Reporting written by Financial Reporting Council and published by . This book was released on 1993 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Experimental Research in Financial Reporting written by Robert Bloomfield and published by Now Publishers Inc. This book was released on 2009 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experimental Research in Financial Reporting examines the use of virtual worlds as next-generation laboratories that can help experimental researchers implement features of complex institutions that are not feasible in traditional laboratory settings. This new technology, originally developed for online computer games, lends itself very well to complex economic settings with large numbers of agents interacting through complex institutions for long periods of time. These virtual worlds provide the opportunity to construct settings whose complexity approaches those that accounting researchers wish to study. Since the settings are virtual, researchers can use experimental methods to control and manipulate institutional features (like accounting regulations) and environmental features (such as industry forces) to allow clear causal inferences with limited reliance on econometrics.
Download or read book The Evolution of Corporate Financial Reporting written by T. A. Lee and published by . This book was released on 2014 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The State of Financial Reporting Second Annual Review written by Financial Reporting Council and published by . This book was released on 1992 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Finance and the Good Society written by Robert J. Shiller and published by Princeton University Press. This book was released on 2013-04-21 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.
Download or read book Financial Reporting written by Nicholas G. Moore and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional financial reporting has long been the cornerstone of investor confidence. Until now, it has served us well in global capital markets. Yet recent dramatic changes in technology and in the global environment are giving rise to the preeminence of knowledge as both a business cost and asset, thereby, redefining the game, and calling on us to develop a new reporting model to reflect this change and to keep investor confidence strong.The traditional reporting model is more suited to a manufacturing economy than one based on services and knowledge. It weighs the historical cost of physical assets, like plant and equipment, but overlooks other key drivers of corporate value, such as brain power and market share. This is resulting in a quot;corporate disclosure gap,quot; leaving investors with a distorted and incomplete assessment of a company?s true worth.
Download or read book Developments in Financial Reporting written by Thomas Lee and published by . This book was released on 1984 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cases in Company Financial Reporting written by Brian A. Rutherford and published by . This book was released on 1987 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
