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Economics/Finances Profits You Can Trust: Spotting and Surviving Accounting Landmines

Posted on 2010-03-16




Name:Economics/Finances Profits You Can Trust: Spotting and Surviving Accounting Landmines
ASIN/ISBN:0131001965
Language:English
File size:1.2 Mb
Publish Date: 2003-07-15
ISBN: 0131001965
Pages: 192 pages
File Type: PDF
File Size: 1,2 MB
Other Info: Financial Times Prentice Hall
   Economics/Finances Profits You Can Trust: Spotting and Surviving Accounting Landmines

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David Sherman, David Young, Harris Collingwood, "Profits You Can Trust: Spotting and Surviving Accounting Landmines"

Profits You Can Trust gives managers, directors, lenders, audit partners and analysts a clear framework to demystify global financial reporting in a market fraught with danger. Filled with provocative and enlightening examples, it offers a fresh perspective and clear guidance for everyone involved withfinancial reporting strategy and communication, as well as specific and easily understood questions that must be asked to avoid accounting landmines that can destroy even the most successful business. The authors begin with an overview of the challenges of financial literacy for business decision-makersoperating in both U.S. and global environments, the reasons decision-makers tacitly "conspire" to inflate stated revenues and reduce stated costs, and how "small" lies inevitably lead to bigger ones. Next, using easy-to-understand examples, they discuss six key accounting minefields in detail. These includerevenue recognition; provision for uncertain future costs; asset values; risk management and the use of derivatives; related party transactions; and performance benchmarking. Finally, they turn to the key questions and lessons arising from recent financial scandals, including accounting firm conflict ofinterest; why Generally Accepted Accounting Practices aren't always sufficient; assessing mergers, acquisitions, and restructuring reserves; and the appropriate role of non-financial measurements such as balanced scorecards.

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