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Accounting And The Truth Of Earnings Reports
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Book Synopsis Accounting and the Truth of Earnings Reports by : Norman B. Macintosh
Download or read book Accounting and the Truth of Earnings Reports written by Norman B. Macintosh and published by . This book was released on 2008 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay investigates the philosophical nature of accounting reports of earnings. Standard setters' authoritative pronouncements [conceptual frameworks, GAAP, EITFs, etc.] hold to the realist philosophical view that true earnings reports are ex post representations of some ex ante out-there, preexisting, extralinguistic real economic increase in the enterprise's wealth. Contra this view, in practice financial accounting executives, in league with investment analysts, routinely engage in the earnings management and manipulation in order to satisfy the capital market's insatiable demands for earnings levels which will support and enhance the enterprise's stock market price.The essay considers this state of affairs from Harold Frankfurt's [2005, 2006] truth, lies, and bullshit treatise. It sees earnings reports as short of lies, and so the accountants can only be faulted for their indifference to the truth and for giving the impression that they are trying to present the truth. A poststructuralist philosophical perspective, however, problematizes this conclusion on the basis that accounting language is not a transparent medium but rather is the material used to manufacture accounting truths. It sees accounting truths as contingent upon linguistic doctrinal accounting discourses currently ceded place of privilege by standard setters and upon the subjective considerations of accountants when they produce reports of earnings. The essay concludes that both Frankfurt's perspective and that of poststructuralist philosophers can provide valuable insights into this process.
Download or read book The Number written by Alex Berenson and published by Random House. This book was released on 2003-03-04 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this commanding big-picture analysis of what went wrong in corporate America, Alex Berenson, a top financial investigative reporter for The New York Times, examines the common thread connecting Enron, Worldcom, Halliburton, Computer Associates, Tyco, and other recent corporate scandals: the cult of the number. Every three months, 14,000 publicly traded companies report sales and profits to their shareholders. Nothing is more important in these quarterly announcements than earnings per share, the lodestar that investors—and these days, that’s most of us—use to judge the health of corporate America. earnings per share is the number for which all other numbers are sacrificed. It is the distilled truth of a company’s health. Too bad it’s often a lie. The Number provides a comprehensive overview of how Wall Street and corporate America lost their way during the great bull market that began in 1982. With fresh insight, wit, and a broad historical perspective, Berenson puts the accounting fraud of the past three years in context, describing how decades of lax standards and shady practices contributed to our current economic troubles. As the bull market turned into a bubble, Wall Street became utterly focused on “the number,” companies’ quarterly earnings. Along the way, the market lost track of what companies are really supposed to do—build profitable businesses with sustainable futures. With their pay soaring, and increasingly tied to their companies’ shares, executives were more than happy to give Wall Street the predictable earnings reports it wanted, what-ever the reality of their businesses. Accountants, analysts, money managers, and individual investors played along, while the Securities and Exchange Commission found itself overwhelmed and underequipped to cope with the earnings game. The Number offers a unified vision of how today’s accounting scandals reflect a broader system failure. As long as investors remain too focused on the number, companies will find ways to manipulate it. Alex Berenson gives anyone who has ever invested in—or worked for—a public company the tools necessary to see beyond the cult of the number, understand accounting and its limits, and recognize patterns that can lead to fraud. After two decades of stock market hype, The Number offers a welcome dose of truth about the way Wall Street and corporate America really work.
Book Synopsis Earnings Magic and the Unbalance Sheet by : Gary Giroux
Download or read book Earnings Magic and the Unbalance Sheet written by Gary Giroux and published by John Wiley & Sons. This book was released on 2006-03-20 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Earnings Magic and the Unbalance Sheet "Gary Giroux brings a breezy, entertaining writing style thatreally helps the reader untangle arcane accounting practices,including stock options, pensions, off-balance sheet items, and therest of his 'dirty thirty.'" —Edward Swanson, Durst Chair and Professor of Accounting,Texas A&M University "Earnings Magic and the Unbalance Sheet provides equityinvestors with clear explanations of today's financial environmenttogether with specific analysis tools to assess the quality ofearnings. Gary Giroux provides a valuable and easy-to-use scoringsystem where investors assign grades to help them in theirinvestment decisions. Earnings Magic is a must-read for anyinvestor in the Dow Jones Industrial Average (Dow 30). Girouxthoroughly analyzes some of the biggest and best knowncompanies." —Andrew McLelland, Assistant Professor of Accounting, AuburnUniversity YOUR KEY TO EVALUATING A COMPANY'S EARNINGS QUALITY Wouldn't you like to know as much as you could about a companybefore you invest in it? Financial information on companies isreadily available, but not necessarily easy to interpret. With shrewd tips and state-of-the-art analytical tools,Earnings Magic and the Unbalance Sheet arms you with the keystrategies and principles to help you evaluate whether a company'sbottom line is headed toward excellence or financial abuse. Thiseye-opening guide expertly walks you through the tangle ofpotentially inflated earnings and misleading accounting disclosuresto determine a company's financial reality.
Book Synopsis Social Security : Information about the Accuracy of Earnings Records by : United States. General Accounting Office
Download or read book Social Security : Information about the Accuracy of Earnings Records written by United States. General Accounting Office and published by . This book was released on 1991 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Finding Reality in Reported Earnings by : Jan R. Squires
Download or read book Finding Reality in Reported Earnings written by Jan R. Squires and published by CFA Institute. This book was released on 1997 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Global Encyclopaedia of Informality, Volume 2 by : Alena Ledeneva
Download or read book The Global Encyclopaedia of Informality, Volume 2 written by Alena Ledeneva and published by UCL Press. This book was released on 2018-01-17 with total page 571 pages. Available in PDF, EPUB and Kindle. Book excerpt: Alena Ledeneva invites you on a voyage of discovery to explore society’s open secrets, unwritten rules and know-how practices. Broadly defined as ‘ways of getting things done’, these invisible yet powerful informal practices tend to escape articulation in official discourse. They include emotion-driven exchanges of gifts or favours and tributes for services, interest-driven know-how (from informal welfare to informal employment and entrepreneurship), identity-driven practices of solidarity, and power-driven forms of co-optation and control. The paradox, or not, of the invisibility of these informal practices is their ubiquity. Expertly practised by insiders but often hidden from outsiders, informal practices are, as this book shows, deeply rooted all over the world, yet underestimated in policy. Entries from the five continents presented in this volume are samples of the truly global and ever-growing collection, made possible by a remarkable collaboration of over 200 scholars across disciplines and area studies. By mapping the grey zones, blurred boundaries, types of ambivalence and contexts of complexity, this book creates the first Global Map of Informality. The accompanying database (www.in-formality.com) is searchable by region, keyword or type of practice, so do explore what works, how, where and why! Praise for Global Encyclopaedia of Informality ‘The Global Informality Project unveils new ways of understanding how the state functions and ways in which civil servants and citizens adapt themselves to different local contexts by highlighting the diversity of the relationships between state and society. The project is of great interest to policymakers who want to imagine solutions that are benefi cial for all, but sufficiently pragmatic to ensure a seamless implementation, particularly in the field of cross-border trade in developing countries.’ - Kunio Mikuriya, Secretary General of the World Customs Organisation, Brussels ‘An extremely interesting and stimulating collection of papers. Ledeneva’s challenging ideas, first applied in the context of Russia’s economy of shortage, came to full blossom and are here contextualized by practices from other countries and contemporary systems. Many original and relevant practices were recognized empirically in socialist countries, but this book shows their generality.’ - János Kornai, Allie S. Freed Professor of Economics Emeritus at Harvard and Professor Emeritus at Corvinus University of Budapest ‘Alena Ledeneva’s Global Encyclopedia of Informality is a unique contribution, providing a global atlas of informal practices through the contributions of over 200 scholars across the world. It is far more rewarding for the reader to discover how commonalities of informal behavior become apparent through this rich texture like a complex and hidden pattern behind local colors than to presume top down universal benchmarks of good versus bad behavior. This book is a plea against reductionist approaches of mathematics in social science in general, and corruption studies in particular and makes a great read, as well as an indispensable guide to understand the cultural richness of the world.’ - Alina Mungiu-Pippidi, Professor of Democracy Studies, Hertie School of Governance, Berlin ‘Transformative scholarship in method, object, and consequence. Ledeneva and her networked expertise not only enable us to view the informal comparatively, but challenge conventionally legible accounts of membership, markets, domination and resistance with these rich accounts from five continents. This project offers nothing less than a social scientific revolution… if the broader scholarly community has the imagination to follow through. And by globalizing these informal knowledges typically hidden from view, the volumes’ contributors will extend the imaginations of those business consultants, movement mobilizers, and peace makers who can appreciate the value of translation from other world regions in their own work.’ Michael D. Kennedy, Professor of Sociology and International and Public Aff irs, Brown University and author of Globalizing Knowledge ‘Don’t mistake these weighty volumes for anything directory-like or anonymous. This wonderful collection of short essays, penned by many of the single best experts in their fields, puts the reader squarely in the kinds of conversations culled only after years of friendship, trust, and with the keen eye of the practiced observer. Perhaps most importantly, the remarkably wide range of offerings lets us “de-parochialise” corruption, and detach it from the usual hyper-local and cultural explanations. The reader, in the end, is the one invited to consider the many and striking commonalities.’ Bruce Grant, Professor at New York University and Chair of the US National Council for East European and Eurasian Research
Book Synopsis Earnings Management by : Joshua Ronen
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008-08-06 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Book Synopsis The End of Accounting and the Path Forward for Investors and Managers by : Baruch Lev
Download or read book The End of Accounting and the Path Forward for Investors and Managers written by Baruch Lev and published by John Wiley & Sons. This book was released on 2016-06-27 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation.
Book Synopsis Financial Fine Print by : Michelle Leder
Download or read book Financial Fine Print written by Michelle Leder and published by John Wiley & Sons. This book was released on 2003-09-24 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thirty-five million individual investors jumped into the stock market for the first time during the late 1990s without asking questions about the stocks they were buying. When the bubble burst and the large number of accounting scandals began to grow, most investors didn’t know where to turn or whom to trust. Now it has become more important than ever for investors to take matters into their own hands. Financial Fine Print: Uncovering a Company’s True Value lets individual investors in on the secrets that seasoned professional investors use when they evaluate a potential investment. Buried deep in a company’s quarterly (10-Q) and annual (10-K) reports are the real clues to a company’s financial health: the footnotes. At many large companies, these footnotes can run for more than 30 pages and for some corporations have doubled in the past five years, making them simply too important for investors to ignore. Financial Fine Print spells out exactly what investors need to look for within the footnotes of a company’s reports in order to make better, more informed decisions. By using numerous examples of actual footnotes that have appeared in SEC documents, the book teaches investors in easy-to-understand language ways to spot – and avoid – future Enrons and Worldcoms (and Tycos and Adelphias and HealthSouths). For any investor who has spent the past three years watching their investments shrink and has begun to think about getting back into the market, this book provides the critical tools that investors need to know to avoid getting burned once again.
Book Synopsis Mark to Market Accounting by : Walter P. Schuetze
Download or read book Mark to Market Accounting written by Walter P. Schuetze and published by Routledge. This book was released on 2004-06-02 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: The collected writings of Walter P. Scheutze here probe the most fundamental problems of corporate financial reporting, argue the case for accounting reform and propose well-informed solutions to these problems.
Book Synopsis An Analysis of Issues Related to Reporting Earnings by : Financial Accounting Standards Board
Download or read book An Analysis of Issues Related to Reporting Earnings written by Financial Accounting Standards Board and published by . This book was released on 1979 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Truth Behind the Numbers in Financial Statements by : José D. Roncal
Download or read book The Truth Behind the Numbers in Financial Statements written by José D. Roncal and published by Wheatmark, Inc.. This book was released on 2011 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inside: Secrets you need to know to protect your nest egg The economy shows signs of recovering from the worst recession since the 1930s. Savvy investors are already bargain shopping for stocks that are priced well and ready to climb out of the doldrums. But as the saying goes, "once burned, twice shy." It's more important than ever to guard against scams and be very careful about where you invest your hard-earned dollars. Let this book be your guide. In plain English, you'll take a guided tour of a typical financial statement, and learn: How to cut through the hype in an annual report and, with a few simple calculations, know how a company is really performing Why you should turn a deaf ear to "stock tips," even when they come from a broker or financial planner The red flags to look for in financial statements that indicate the management is trying to pull the wool over your eyes Why footnotes to financial statements are "must" reading for any investor How to use the Internet to research markets, companies, and executives to uncover problems, pitfalls and golden opportunities Secrets the pros use to spot the best performing stocks and bonds ahead of the average investor The Truth Behind the Numbers in Financial Statements is written by José Roncal, a respected international dealmaker and corporate finance expert with over 20 years of experience in finance. Read this book and you'll understand why Donald Trump called his last book "a great read." About the Author José D. Roncal is a globally mobile executive with over 20 years of experience in international business and finance, having worked and travelled frequently in six continents. Specializing in telecommunications and information technology industries, Mr. Roncal has served such well-known multinational companies as NCR, AT&T, Verizon Communications and the U.K.-based blue chip company Cable and Wireless. For 20 years, he has lived around the globe as a chief financial officer, focusing on mergers and acquisitions, joint ventures, strategic alliances, and spin-offs. His background includes building, leading, executing and advising corporations through complex restructuring, international expansion, and capital markets transactions in emerging markets. He is particularly adept at structuring and negotiating favorable terms with commercial and investment banks. Mr. Roncal has a solid track record of enhancing internal controls based on strong SEC expertise and deep understanding of Sarbanes-Oxley requirements. Investor relations skills include communication with analysts, investment advisors and shareholders. Mr. Roncal has authored numerous articles on business strategy, finance, accounting, capital markets and the global economy. He holds an MBA from Thunderbird University and a BA from Florida International University, both in the USA, and has attended various senior executive programs at Oxford University in the United Kingdom. His most recent book, also published by Wheatmark, is The Big Gamble: Are You Investing or Speculating?
Book Synopsis Creative Cash Flow Reporting by : Charles W. Mulford
Download or read book Creative Cash Flow Reporting written by Charles W. Mulford and published by John Wiley & Sons. This book was released on 2005-05-13 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Successful methodology for identifying earnings-related reporting indiscretions Creative Cash Flow Reporting and Analysis capitalizes on current concerns with misleading financial reporting on misleading financial reporting. It identifies the common steps used to yield misleading cash flow amounts, demonstrates how to adjust the cash flow statement for more effective analysis, and how to use adjusted operating cash flow to uncover earnings that have been misreported using aggressive or fraudulent accounting practices. Charles W. Mulford, PhD, CPA (Atlanta, GA), is the coauthor of three books, including the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices. Eugene E. Comiskey, PhD, CPA, CMA (Atlanta, GA), is the coauthor of the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices.
Book Synopsis The Magic of Organization by : Hugo Letiche
Download or read book The Magic of Organization written by Hugo Letiche and published by Edward Elgar Publishing. This book was released on 2020-09-25 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring magic as a creative necessity in contemporary business, this book clarifies the differences between magic as an organizational resource and magic as fakery, pretence and manipulation. Using this lens, it highlights insights into the relationship between anthropology and business, and organizational studies.
Book Synopsis Financial Reporting and Analysis by : Lawrence Revsine
Download or read book Financial Reporting and Analysis written by Lawrence Revsine and published by Prentice Hall. This book was released on 2005 with total page 1096 pages. Available in PDF, EPUB and Kindle. Book excerpt: The CPA exam is changing. You need to change as well...to a book that better prepares you for the CPA examandfor business. This is the only book of its kind that demonstrateshow to preparefinancial reports and thenhow to analyzewhat those numbers really mean.Every manager has incentives to present his or her firm in the most favorable light to lenders, equity investors and others. And, every manager wants to use the flexibility allowed by GAAP to manage the firm's earnings to achieve certain goals. Revsine, Collins, and Johnsonexplain these incentivesand help readers spot cases of earnings management, which disguises a firm's true performance.For anyone preparing to take the CPA exam, and for anyone who wants or needs a working knowledge of accounting, financial reporting, and financial statement analysis.
Book Synopsis Global Encyclopedia of Public Administration, Public Policy, and Governance by : Ali Farazmand
Download or read book Global Encyclopedia of Public Administration, Public Policy, and Governance written by Ali Farazmand and published by Springer Nature. This book was released on 2023-04-05 with total page 13623 pages. Available in PDF, EPUB and Kindle. Book excerpt: This global encyclopedic work serves as a comprehensive collection of global scholarship regarding the vast fields of public administration, public policy, governance, and management. Written and edited by leading international scholars and practitioners, this exhaustive resource covers all areas of the above fields and their numerous subfields of study. In keeping with the multidisciplinary spirit of these fields and subfields, the entries make use of various theoretical, empirical, analytical, practical, and methodological bases of knowledge. Expanded and updated, the second edition includes over a thousand of new entries representing the most current research in public administration, public policy, governance, nonprofit and nongovernmental organizations, and management covering such important sub-areas as: 1. organization theory, behavior, change and development; 2. administrative theory and practice; 3. Bureaucracy; 4. public budgeting and financial management; 5. public economy and public management 6. public personnel administration and labor-management relations; 7. crisis and emergency management; 8. institutional theory and public administration; 9. law and regulations; 10. ethics and accountability; 11. public governance and private governance; 12. Nonprofit management and nongovernmental organizations; 13. Social, health, and environmental policy areas; 14. pandemic and crisis management; 15. administrative and governance reforms; 16. comparative public administration and governance; 17. globalization and international issues; 18. performance management; 19. geographical areas of the world with country-focused entries like Japan, China, Latin America, Europe, Asia, Africa, the Middle East, Russia and Eastern Europe, North America; and 20. a lot more. Relevant to professionals, experts, scholars, general readers, researchers, policy makers and manger, and students worldwide, this work will serve as the most viable global reference source for those looking for an introduction and advance knowledge to the field.
Book Synopsis FCC Record by : United States. Federal Communications Commission
Download or read book FCC Record written by United States. Federal Communications Commission and published by . This book was released on 2004-11 with total page 828 pages. Available in PDF, EPUB and Kindle. Book excerpt:
