Financial reporting, financial statements Books

Book SynopsisMutual fund superstar Peter Lynch and author John Rothchild explain the basic principles of the stock market and business in an investing guide that will enlighten and entertain anyone who is high school age or older.Many investors, including some with substantial portfolios, have only the sketchiest idea of how the stock market works. The reason, say Lynch and Rothchild, is that the basics of investing—the fundamentals of our economic system and what they have to do with the stock market—aren’t taught in school. At a time when individuals have to make important decisions about saving for college and 401(k) retirement funds, this failure to provide a basic education in investing can have tragic consequences. For those who know what to look for, investment opportunities are everywhere. The average high school student is familiar with Nike, Reebok, McDonald’s, the Gap, and The Body Shop. Nearly every teenager in America drinks Coke or Pepsi, but only a very few own shares in either company or even understand how to buy them. Every student studies American history, but few realize that our country was settled by European colonists financed by public companies in England and Holland—and the basic principles behind public companies haven’t changed in more than three hundred years. In Learn to Earn, Lynch and Rothchild explain in a style accessible to anyone who is high school age or older how to read a stock table in the daily newspaper, how to understand a company annual report, and why everyone should pay attention to the stock market. They explain not only how to invest, but also how to think like an investor.Table of ContentsContentsPREFACEINTRODUCTIONThe Companies Around UsONEA Short History of CapitalismTWOThe Basics of InvestingTHREEThe Lives of a CompanyFOURThe Invisible HandsAPPENDIX ONEStockpicking ToolsAPPENDIX TWOReading the Numbers -- How to Decipher a Balance SheetINDEX

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Book SynopsisWith an insider's view of the mind of the master, Mary Buffett and David Clark have written a simple guide for reading financial statements from Buffett's successful perspective. They clearly outline Warren Buffett's strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett's mentor, Benjamin Graham, this book presents Buffett's interpretation of financial statements with anecdotes and quotes from the master investor himself. Destined to become a classic in the world of investment books, Warren Buffett and the Interpretation of Financial Statements is the perfect companion volume to The New Buffettology and The Tao of Warren Buffett.

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Book SynopsisAlan Melville, FCA, BSc, Cert. Ed. is a best-selling author. Previously a Senior Lecturer at Nottingham Trent University, he has many years of experience teaching accounting and financial reporting.Table of ContentsPreface Acknowledgements List of international standards Part 1 Introduction to Financial Reporting The regulatory framework The IASB conceptual framework Presentation of financial statements Accounting policies, estimates and errors Part 2 Financial Reporting in Practice Property, plant and equipment Intangible assets Impairment of assets Non-current assets held for sale and discontinued operations Leases Inventories Financial instruments Provisions and events after the reporting period Revenue from contracts with customers Employee benefits Taxation in financial statements Statement of cash flows Financial reporting in hyperinflationary economies Part 3 Consolidated Financial Statements Groups of companies (1) Groups of companies (2) Associates and joint arrangements Related parties and changes in foreign exchange rates Part 4 Analysis of Financial Statements Ratio analysis Earnings per share Segmental analysis Part 5 Small and Medium-sized Entities The IFRS for SMEs® Standard Part 6 Answers Answers to exercises Index

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Book SynopsisSimply the clearest and most comprehensive introduction to financial reporting available. No accounting background is required. ?Finally, a handbook that takes the mystery out of accounting principles.? ?Margi Gandolfi, VP Marketing/Strategic Planning of New York Blood CenterThis edition replaces all previous editions of this bestselling title based on the revised and expanded edition corrected and back to the basics.Financial Statements is a perfect introduction to financial accounting for non-financial managers, investors, business students, lawyers, lenders, entrepreneurs, and more. Financial Statements deftly shows that all this accounting and financial-reporting stuff is not rocket science and that anyone can understand it!Ittelson empowers non-financial managers by clearly and simply demonstrating how the balance sheet, income statement, and cash flow statement work together to offer a snapshot of any company?s financial health. Every term is defined in simple, understandable language. Every concept is explained with a basic, straightforward transaction example. And with the book?s uniquely visual approach, you?ll be able to see exactly how each transaction affects the three key financial statements of the enterprise. Each statement paints a different and essential picture?the ?three-legged stool? of company reporting:? The income statement shows the manufacturing (or service offerings) and selling actions of the company that result in profit or loss during a period. It gives a very important perspective on the company?s performance, its profitability.? The cash flow statement details cash into and out of the company for a period. You need money to make money. Running out of cash is bad. Duh.? The balance sheet records at the end of a period, an instant in time, what the company owns and what it owes, including the owners? stake, called shareholders? equity.

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Book SynopsisThe easy way to get a grip on International Reporting Standards IFRS For Dummies is your complete introduction to IFRS and international accounting and balancing standards. Combining all the facts needed to understand this complex subject with useful examples, this easy-to-read guide will have you on top of IFRS in no time.Trade ReviewThe book is the latest addition to the publisher s For Dummies series, which aims to simplify complicated topics for readers. (Manchester Evening News, 10th May 2012)Table of ContentsIntroduction 1 Part I: Concepts and Basic Standards 7 Chapter 1: Introducing IFRS 9 Chapter 2: Getting to Grips with Some Basic IFRS 27 Chapter 3: Taking the Plunge: Adopting IFRS for the First Time 51 Part II: Looking at the Key Components of Financial Statements 69 Chapter 4: Accounting for Assets 71 Chapter 5: Looking at Assets You Don’t See Every Day 95 Chapter 6: Accounting for Liabilities 117 Chapter 7: Examining Liabilities You Don’t See Every Day 141 Chapter 8: Accounting for Revenue 161 Chapter 9: Accounting for Equity 179 Part III: Consolidating and Investing 201 Chapter 10: Getting Your Head Around the Basics of Consolidation 203 Chapter 11: Getting to Grips with More Complex Consolidation Issues 217 Chapter 12: Tackling Associates 239 Chapter 13: Juggling Joint Ventures 257 Part IV: Disclosing Information in the Financial Statements 269 Chapter 14: Reporting Related Parties 271 Chapter 15: Skilfully Segmenting Information 289 Chapter 16: Easing into Earnings per Share 303 Part V: The Part of Tens 321 Chapter 17: Ten Pitfalls to Avoid 323 Chapter 18: Ten Disclosure Requirements Under IFRS 333 Chapter 19: Ten Future Developments in IFRS 343 Part VI: Appendixes 349 Appendix A: Sources of Guidance 351 Appendix B: IFRS for SMEs 357 Appendix C: Glossary 361 Index 365

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Book SynopsisThe helpful workbook to help practice assessing financial statements Financial statement analysis is essential as part of any well-organized financial portfolio. As a companion piece, Financial Statement Analysis Workbook: A Practitioner''s Guide allows readers the opportunity to test and hone the skills put forward in Martin Fridson and Fernando Alvarez''s Financial Statement Analysis, a resource devoted to providing the analytical framework necessary to make sense of the sometimes misleading numbers put forth by companies. Scrutinizing financial statements allows one to, for example, evaluate a company's stock price or determine merger or acquisition valuations. The Financial Statement Analysis Workbook, then, provides a pathway to become familiar with these methodologies in order to be prepared to use them in real-world scenarios. With the skills provided within, you can begin to undertake goal-oriented preparation for the practical chalTable of ContentsPreface to Fifth Edition Workbook Acknowledgments Part One Questions Fill in the Blanks on Each Chapter Financial Statement Exercises Financial Statement Items Common Size and Operating Strategy Cash Flows and Life Cycle DuPont Analysis Computational Exercises Arithmetic of Growth Valuations Market Value versus Book Value of Debt Acquisitions Driven by Sales Growth Acceleration without Profit Increase Stock Prices and Goodwill Projecting Interest Expense Sensitivity Analysis in Forecasting Financial Statements Part Two Answers Fill in the Blanks on Each Chapter (Answers) Financial Statement Exercises (Answers) Financial Statement Items Common Size and Operating Strategy Cash Flows and Life Cycle DuPont Analysis Computational Exercises (Answers) Arithmetic of Growth Valuations Market Value versus Book Value of Debt Acquisitions Driven by Sales Growth Acceleration without Profit Increase Stock Prices and Goodwill Projecting Interest Expense Sensitivity Analysis in Forecasting Financial Statements

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Book SynopsisNigel Wyatthas been running his own financial training consultancy Magenta Financial Training since 1991. Nigel has worked with a wide range of organisations, including many blue-chip companies. In recent years he has worked extensively abroad, including India, China, Oman, Saudi Arabia, UAE, Kuwait and Jordan. Most of the training programmes Nigel delivers are aimed at non-financial managers.Table of ContentsContents About the author Acknowledgements Introduction Part 1 Preparing your budgets 1 What is the budget for? Introduction The role of budgets – why do we have them? 1 Meeting the organisation’s objectives 2 Planning 3 Monitoring and controlling 4 Co-ordinating 5 Evaluating performance 6 Improving performance 7 Motivating managers 8 Management contract 9 Communicating 10 Providing a basis for authorising expenditure and delegating responsibility 11 Identifying scarce resources 12 Allocating resources 13 Demonstrating and delivering good corporate governance Linking budgets to strategy and policy Budgets for special purposes Planning periods 2 What is a forecast and how does it differ from a budget? What is the difference between a budget and a forecast? Benefits of forecasting ‘beyond the wall’ Forecasts, projects and contracts Forecasting tools and techniques Sales forecasting Quantitative forecasting using Microsoft Excel Useful Excel tools Forecast frequency and automation Measuring and improving forecast accuracy Forecast financial statements New product sales forecasting Other factors to consider in sales forecasts 3 Essential background financial skills for budgeting Cheaper is not always better: cost and value in budgeting Accruals, cash and commitment accounting and budgeting Understanding profit and loss account figures Review of accruals accounting Direct and indirect methods of producing cash flow accounting The balance sheet The master budget Costs Value analysis and value engineering Activity based costing (ABC) The breakeven model Cost structure Capital expenditure planning 4 How should the budget be built? Introduction Building budgets Incremental budgeting Zero based budgeting Activity based budgeting Should budgets be top-down or bottom-up? Fixed v flexible budgets External comparison driven budgets VFM, outcome orientated and evidence based budgets The power of evidence in protecting budgets Good budgeting practice and ideas for constructing a budget Setting budgets for contingencies The challenge process Building budgets and performance measurement The budget game Presenting budgets 5 How should cash be budgeted and controlled? Planning systems and cash flow forecasting Managing working capital – cash and risk Managing trade debtors (accounts receivable) Managing stock (inventory) Managing trade creditors (accounts payable) Cash flow in a business 6 How should capital expenditure be budgeted for? What is capital expenditure? The payback rule NPV and DCF Capital rationing: profitability index Strategic fit and ‘roadmaps’ Sensitivity analysis Risk Post-investment appraisal Long-term cash flow planning Asset rep

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Book SynopsisTable of ContentsIntroduction 1 About This Book 2 Conventions Used in This Book 2 What You’re Not to Read 2 Foolish Assumptions 3 Icons Used in This Book 3 Beyond the Book 4 Where to Go from Here 4 Part 1: Getting Started with Financial Reports 5 Chapter 1: Opening the Cornucopia of Reports 7 Figuring Out Financial Reporting 8 Preparing the reports 8 Seeing why financial reporting counts (and who’s counting) 9 Checking Out Types of Reporting 11 Keeping everyone informed 11 Following the rules: Government requirements 12 Going global 13 Staying within the walls of the company: Internal reporting 14 Dissecting the Annual Report to Shareholders 15 Breaking down the parts 15 Getting to the meat of the matter 16 Keeping the number crunchers in line 17 Chapter 2: Recognizing Business Types and Their Tax Rules 19 Flying Solo: Sole Proprietorships 20 Keeping taxes personal 20 Reviewing requirements for reporting 21 Joining Forces: Partnerships 21 Partnering up on taxes 22 Meeting reporting requirements 22 Seeking Protection with Limited Liability Companies 22 Taking stock of taxes 23 Reviewing reporting requirements 23 Shielding Your Assets: S and C Corporations 23 Paying taxes the corporate way 24 Getting familiar with reporting requirements 25 Chapter 3: Public or Private: How Company Structure Affects the Books 27 Investigating Private Companies 28 Checking out the benefits 29 Defining disadvantages 30 Figuring out reporting 31 Understanding Public Companies 32 Examining the perks 33 Looking at the negative side 34 Filing and More Filing: Government and Shareholder Reports 35 Quarterly reports 35 Yearly report 35 The rules of the Sarbanes-Oxley Act 36 Dodd-Frank’s impact on financial industry regulation 39 Entering a Whole New World: How a Company Goes from Private to Public 41 Teaming up with an investment banker 41 Making a public offering 42 Chapter 4: Digging into Accounting Basics 45 Making Sense of Accounting Methods 45 Cash-basis accounting 46 Accrual accounting 46 Why method matters 46 Understanding Debits and Credits 48 Double-entry accounting 49 Profit and loss statements 50 The effect of debits and credits on sales 50 Depreciation and amortization 51 Checking Out the Chart of Accounts 52 Asset accounts 54 Liability accounts 56 Equity accounts 57 Revenue accounts 58 Expense accounts 59 Differentiating Profit Types 60 Gross profit 60 Operating profit 60 Net profit 61 Part 2: The Big Show: Annual Reports 63 Chapter 5: Exploring the Anatomy of an Annual Report 65 Everything but the Numbers 66 Debunking the letter to shareholders 66 Making sense of the corporate message 67 Meeting the people in charge 68 Finding basic shareholder information 68 Getting the skinny from management 68 Getting guarantees from management 72 Bringing the auditors’ answers to light 73 Presenting the Financial Picture 76 Summarizing the Financial Data 77 Finding the highlights 77 Reading the notes 78 Chapter 6: Balancing Assets against Liabilities and Equity 79 Understanding the Balance Equation 80 Introducing the Balance Sheet 80 Digging into dates 80 Nailing down the numbers 81 Figuring out format 82 Ogling Assets 84 Current assets 84 Long-term assets 88 Accumulated depreciation 90 Looking at Liabilities 91 Current liabilities 91 Long-term liabilities 92 Navigating the Equity Maze 93 Stock 93 Retained earnings 94 Capital 94 Drawing 94 Chapter 7: Using the Income Statement 95 Introducing the Income Statement 96 Digging into dates 97 Figuring out format 97 Delving into the Tricky Business of Revenues 100 Defining revenue 100 Adjusting sales 101 Considering cost of goods sold 103 Gauging gross profit 104 Acknowledging Expenses 105 Sorting Out the Profit and Loss Types 107 EBITDA 107 Nonoperating income or expense 108 Net profit or loss 109 Calculating Earnings per Share 109 Chapter 8: The Statement of Cash Flows 111 Digging into the Statement of Cash Flows 112 The parts 112 The formats 113 Checking Out Operating Activities 115 Depreciation 116 Inventory 116 Accounts receivable 116 Accounts payable 117 The cash flow from activities section, summed up 117 Investigating Investing Activities 118 Understanding Financing Activities 119 Issuing stock 119 Buying back stock 119 Paying dividends 120 Incurring new debt 120 Paying off debt 121 Recognizing the Special Line Items 121 Discontinued operations 121 Foreign currency exchange 122 Adding It All Up 122 Chapter 9: Scouring the Notes to the Financial Statements 123 Deciphering the Small Print 124 Accounting Policies Note: Laying out the Rules of the Road 125 Depreciation 126 Revenue 126 Expenses 127 Figuring out Financial Borrowings and Other Commitments 128 Long-term obligations 128 Short-term debt 129 Lease obligations 130 Mergers and Acquisitions: Finding Noteworthy Information 131 Pondering Pension and Retirement Benefits 132 Breaking Down Business Breakdowns 134 Reviewing Significant Events 135 Finding the Red Flags 137 Finding out about valuing assets and liabilities 138 Considering changes in accounting policies 138 Decoding obligations to retirees and future retirees 139 Chapter 10: Considering Consolidated Financial Statements 141 Getting a Grip on Consolidation 141 Looking at Methods of Buying Up Companies 147 Reading Consolidated Financial Statements 148 Looking to the Notes 150 Mergers and acquisitions 152 Goodwill 152 Liquidations or discontinued operations 152 Part 3: Analyzing the Numbers 155 Chapter 11: Testing the Profits and Market Value 157 The Price/Earnings Ratio 158 Figuring out earnings per share 158 Calculating the P/E ratio 159 Practicing the P/E ratio calculation 160 Using the P/E ratio to judge company market value (stock price) 162 Understanding variation among ratios 163 The Dividend Payout Ratio 164 Determining dividend payout 165 Digging into companies’ profits with dividends 165 Return on Sales 167 Figuring out ROS 167 Reaching the truth about profits with ROS 168 Return on Assets 168 Doing some dividing to get ROA 169 Ranking companies with the help of ROA 169 Return on Equity 169 Calculating ROE 170 Testing companies using ROE 170 The Big Three: Margins 171 Dissecting gross margin 171 Investigating operating margin 172 Catching the leftover money: Net profit margin 173 Chapter 12: Looking at Liquidity 175 Finding the Current Ratio 177 Calculating the current ratio 177 What do the numbers mean? 178 Determining the Quick Ratio 178 Calculating the quick ratio 178 What do the numbers mean? 179 Investigating the Interest Coverage Ratio 180 Calculating the interest coverage ratio 180 What do the numbers mean? 181 Comparing Debt to Shareholders’ Equity 182 Calculating debt to shareholders’ equity 182 What do the numbers mean? 183 Determining Debt-to-Capital Ratio 184 Calculating the debt-to-capital ratio 184 What do the numbers mean? 186 Chapter 13: Making Sure the Company Has Cash to Carry On 187 Measuring Income Success 188 Calculating free cash flow 188 Figuring out cash return on sales ratio 190 Checking Out Debt 191 Determining current cash debt coverage ratio 192 Computing cash debt coverage ratio 194 Calculating Cash Flow Coverage 196 Finding out the cash flow coverage ratio 196 Mattel 197 Hasbro 198 What do the numbers mean? 198 Part 4: How Companies Optimize Operations 199 Chapter 14: Turning Up Clues in Turnover and Assets 201 Exploring Inventory Valuation Methods 201 Applying Three Inventory Valuation Methods 204 Average costing 205 FIFO 206 LIFO 206 How to compare inventory methods and financial statements 207 Determining Inventory Turnover 208 Calculating inventory turnover 208 What do the numbers mean? 210 Investigating Fixed Assets Turnover 210 Calculating fixed assets turnover 210 What do the numbers mean? 211 Tracking Total Asset Turnover 211 Calculating total asset turnover 212 What do the numbers mean? 212 Chapter 15: Examining Cash Inflow and Outflow 213 Assessing Accounts Receivable Turnover 213 Calculating accounts receivable turnover 214 What do the numbers mean? 216 Taking a Close Look at Customer Accounts 217 Finding the Accounts Payable Ratio 218 Calculating the ratio 218 What do the numbers mean? 219 Determining the Number of Days in Accounts Payable 219 Calculating the ratio 220 What do the numbers mean? 220 Deciding Whether Discount Offers Make Good Financial Sense 221 Calculating the annual interest rate 221 What do the numbers mean? 222 Chapter 16: How Companies Keep the Cash Flowing 223 Slowing Bill Payments 223 Speeding Up Collecting Accounts Receivables 224 Borrowing on Receivables 226 Reducing Inventory 227 Getting Cash More Quickly 228 Part 5: The Many Ways Companies Answer to Others 231 Chapter 17: How Companies Find Errors: The Auditing Process 233 Inspecting Audits and Auditors 234 Looking for mistakes 234 Meeting Mr or Ms Auditor 234 Examining Records: The Role of the Auditor 235 Preliminary review 236 Fieldwork 236 Audit report 238 Filling the GAAP 238 Accounting standards: Four important qualities 239 Changing principles: More work for the FASB 240 Getting more involved internationally 241 Chapter 18: Government Regulations and Reporting Requirements 243 Checking Out the 10-Q 244 Financial information 244 Other critical matters 245 Introducing the 10-K 246 Business operations 246 Financial data 246 Information about directors and executives 247 The extras 248 Investigating Internal Controls 248 Uncovering the Ways Companies Keep in Compliance 250 Digging into Board Operations 252 Understanding the nominating process 253 Contacting board members 254 Finding Out about Insider Ownership 254 Chapter 19: Creating a Global Financial Reporting Standard 255 Why Develop a Worldwide Financial Standard? 256 Key Moves to Reshape Global Financial Reporting 256 Who Benefits from a Global Standard and How? 258 Investors 258 Capital Markets 258 Companies 258 Key Differences between GAAP and IFRS 259 Accounting framework 259 Financial statements 260 Revenue recognition 262 Assets 262 Inventory 262 Related-party transactions disclosures 263 Discontinued operations 263 Impairment charges 264 Chapter 20: Understanding the Analyst–Corporation Connection 265 Typecasting the Analysts 266 Buy-side analysts 266 Sell-side analysts 267 Independent analysts 270 Bond analysts 270 Regarding Bond-Rating Agencies 271 Delving into Stock Rating 273 Taking a Look at How Companies Talk to Analysts 274 Analyst calls 274 Press releases 275 Mobile apps 276 Road shows 276 Chapter 21: How Companies Communicate with Shareholders 277 Making the Most of Meetings 278 Checking Out How the Board Runs the Company 279 Watching the directors 279 Speaking out at meetings 281 Moving away from duking it out 282 Sorting through Reports 282 Catching Up on Corporate Actions 283 Culling Information from Analyst Calls 285 Listening between the lines 286 Knowing when to expect analyst calls 289 Staying Up-to-Date Using Company Websites 289 Regarding Reinvestment Plans 290 Dividend reinvestment plans 290 Direct stock purchase plans 290 Chapter 22: Keeping Score When Companies Play Games with Numbers 291 Getting to the Bottom of Creative Accounting 292 Defining the scope of the problem 292 Seeing through cooked books 293 Unearthing the Games Played with Earnings 295 Reading between the revenue lines 296 Detecting creative revenue accounting 300 Exploring Exploitations of Expenses 302 Advertising expenses 303 Research and development costs 303 Patents and licenses 304 Asset impairment 304 Restructuring charges 305 Finding Funny Business in Assets and Liabilities 306 Recognizing overstated assets 306 Looking for undervalued liabilities 309 Playing Detective with Cash Flow 311 Discontinued operations 311 Income taxes paid 312 Part 6: The Part of Tens 315 Chapter 23: Ten Financial Scandals That Rocked the World 317 Enron 318 Madoff 319 Citigroup 319 Adelphia 320 WorldCom/MCI 320 Tyco 321 Waste Management 322 Bristol-Myers Squibb 323 Halliburton 324 Arthur Andersen 325 Chapter 24: Ten Signs That a Company’s in Trouble 327 Lower Liquidity 327 Low Cash Flow 328 Disappearing Profit Margins 328 Revenue Game Playing 329 Too Much Debt 330 Unrealistic Values for Assets and Liabilities 330 A Change in Accounting Methods 330 Questionable Mergers and Acquisitions 331 Slow Inventory Turnover 332 Slow-Paying Customers 332 Glossary 333 Index 341

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Book SynopsisGlobal Financial Accounting and Reporting: Principles and Analysis continues to be an invaluable resource for undergraduate, postgraduate and MBA students of introductory financial accounting. Comprehensive and well-illustrated, it covers all the important topics without being too technical and takes a truly international approach. Using extracts from the latest IFRS Standards and real company report data, this book takes a global approach, giving students direct exposure to contemporary reports and financial statements.Table of ContentsPart 1The accounting and business environment 1Financial reporting and regulation 2Accounting and accountants Part 2Basic financial statements 3Accounting concepts and the balance sheet equation 4Accrual accounting 5Non-current assets and depreciation 6Refining the accounting system 7Preparing financial statements Part 3An introduction to financial statement analysis 8A framework for interpretation 9Financial statement analysis I 10Statement of cash flows Part 4The financial statements of multinational companies 11The annual report 12Consolidated financial statements 13Operating segments and foreign operations 14Issues in financial reporting by multinationals 15International taxation 16Auditing and corporate governance Part 5Advanced financial statement analysis 17Financial statement analysis II 18IFRS and the future Further reading Index

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Book SynopsisTrade Review“This is a warm, wonderful book that shows how a father and daughter can connect at a deeper level, on both a personal and a financial level, enriching them both for the years ahead.” — Brian Tracy, bestselling author of Eat That Frog!: 21 Great Ways to Stop Procrastinating and Get More Done in Less Time “Stunning! Invested is the only book that seriously addresses how inner health becomes outer wealth with straightforward steps to financial freedom. Anyone who wants an all-around better life should read this book.” — JJ Virgin, bestselling author of The Virgin Diet “Invested makes complex ideas about stocks and markets make sense to anyone! Get ready to level-up your knowledge of active investing from any starting point.” — Amanda Steinberg, founder of DailyWorth and author of Worth It: Your Life, Your Money, Your Terms “Fear holds most people back from real wealth. This book addresses head-on being afraid of the stock market and being afraid of not knowing enough. For everyone who knows they need to do something with their money but doesn’t know what, this is the book for you.” — John Assaraf, star of The Secret, founder of myNeuroGym.com, and author of Having It All “In Invested, Danielle Town shows how she learned to overcome her anxieties about money to take control of her own happiness. A terrifically informative and thoughtful book.” — GRETCHEN RUBIN, bestselling author of The Happiness Project and The Four Tendencies

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Book SynopsisLyn M. Fraser has taught undergraduate and graduate classes in financial statement analysis at Texas A&M University and has conducted numerous seminars on the subject for executive development and continuing education courses. A Certified Public Accountant, she is the co-author with Aileen Ormiston of Understanding the Corporate Annual Report: Nuts, Bolts, and a Few Loose Screws (Prentice Hall, 2003) and has published articles in the Journal of Accountancy, the Journal of Commercial Bank Lending, the Magazine of Bank Administration, and the Journal of Business Strategies. She has been recognized for Distinguished Achievement in Teaching by the Former Students Association at Texas A&M University and is a member of Phi Beta Kappa. Lyn's most recent publication is a new mystery novel, Debits and Credits, published by Mainly Murder Press in 2014. Aileen Ormiston teaches in the Accounting Department in thTable of ContentsBrief Contents Preface to the Eleventh Edition Organization of the Eleventh Edition Uses for the Eleventh Edition Acknowledgments About the Authors Financial Statements: An Overview The Balance Sheet Income Statement and Statement of Stockholders’ Equity Statement of Cash Flows The Analysis of Financial Statements Appendixes Summary of Financial Ratios Solutions to Self-Tests Glossary Index

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Book SynopsisAccounting practice is developing at a fast pace and this book reflects these changes. The book outlines and explains the basis of accounting techniques whilst also describing modern company reporting requirements. Accessible for students, the book contains extensive cross-referencing to an actual company annual report, included within the text.Table of Contents1. Principles and Practices ; 2. Recording Financial Information ; 3. Summarising Financial Information ; 4. The Profit and Loss Account: from 'turnover' to 'profit before interest and taxation' ; 5. The Profit and Loss Account: from 'profit before interest and taxation' to 'retained profit'. ; 6. The Balance Sheet: Assets ; 7. The Balance Sheet: Liabilities ; 8. The Balance Sheet: Capital and Reserves ; 9. The Cash Flow Statement ; 10. Consolidated Financial Statements ; 11. The Annual Report ; 12. Understanding and Analysing the Annual Report ; Appendix 1: Latest Annual Report of Domino's Pizzas UK and IRL plc ; Appendix 2: Answers to Multiple Choice Questions ; Appendix 3: Solutions to longer questions ; Appendix 4: Answers to mini case studies ; Chapter summaries for revision

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Book SynopsisEntrepreneurial finance brings together the fast-moving world of entrepreneurship with the disciplined world of finance. Fundamentals of Entrepreneurial Finance provides an accessible, yet rigorous, framework for understanding how ambitious, high-growth start-ups can successfully obtain funding and interact with investors.Trade ReviewDa Rin and Hellmann masterfully combine academic and case studies to analyze how entrepreneurs with ideas and financiers with capital can strike mutually advantageous deals that power society's future innovations. The result is a lucid and comprehensive book that will be an invaluable resource for anyone with an interest in this topic. * Oliver Hart, Department of Economics, Harvard University, 2016 Nobel laureate in economics *While getting to scale fastest in a global economy can take significant capital, money has always been just one part of venture financing. Using clear frameworks that show how venture financing really works, Da Rin and Hellmann point out how the networks of talent and expertise that investors can help entrepreneurs access are critical to a start-up's success. This is especially true for big, ambitious, and even contrarian ventures. So if you're an entrepreneur ready to pursue a truly bold idea, be sure to read this book. * Reid Hoffman, Co-founder of LinkedIn and co-author of Blitzscaling *This textbook achieves a wonderful balance in providing students with a broad and insightful introduction to entrepreneurial finance; but at the same time opens up many avenues for interested students to pursue the material more deeply. The authors draw from a wealth of intriguing examples to make the material come to life and their in-depth knowledge of the subject matter shines through at every turn. A great resource for any student of entrepreneurial finance as well as a lay audience that wants to understand this fast growing part of finance better. * Antoinette Schoar, Michael M. Koerner (1949) Professor of Finance and Entrepreneurship at the MIT Sloan School of Management *This book provides the foundational knowledge MBAs need to master entrepreneurial finance. The authors are leading academics, trained at Stanford, who taught and researched in many countries. They understand not only how Silicon Valley works, but also how venture financing is a global phenomenon. * Ilya A. Strebulaev, Professor of Finance, Stanford Graduate School of Business *The financing of start-ups is crucial for their very survival and development, yet it is often thought of as a narrow technical issue. It is not! Da Rin and Hellmann build a comprehensive framework that helps the reader understand the entire entrepreneurial financing process, and how entrepreneurs and investors navigate through it. I highly recommend this book to anyone who wants to understand the fuel that fires the modern innovation economy, and especially to those venturing into it. * Eugene Kandel, CEO of Start-Up Nation Central, and Professor of Economics and Finance at the Hebrew University of Jerusalem *This book will help students from different backgrounds understand how venture financing works. The authors masterfully combine insights from finance, economics, strategic management, organizational behavior, legal studies and other academic fields. They introduce many new practical tools and present materials in a direct and engaging style. * David Hsu, Professor of Management, Wharton Business School *Da Rin and Hellmann have crafted a seminal contribution to the teaching of Entrepreneurial Finance. The issues addressed in their book are critical for any entrepreneur who is considering starting a company and raising capital. The material is applicable to any industry or country context making the book a 'must read'. Furthermore, the lessons are rigorous yet practical and allow an entrepreneur to put the recommendations into action. The book will become a staple not only in the classroom, but on the shelf of every aspiring entrepreneur. * Paul Gompers, Eugene Holman Professor of Business Administration, Harvard Business School *The financing of start-ups has become a global phenomenon with ambitious start-ups being funded by venture investors across many countries, including China. This is the first book to provide a truly global perspective on entrepreneurial finance. Da Rin and Hellmann build their framework step-by-step from core academic concepts, making the material accessible and engaging to the students at all levels around the world. * Yingyi Qian, Distinguished Professor and former Dean, School of Economics and Management, Tsinghua University *Having taught entrepreneurial finance for many years, one of the problems has been to find an appropriate textbook, which both provides practical skills and at the same time is grounded in modern research. I am happy to see that this problem has now been solved. Da Rin and Hellmann are two of the most well-known and accomplished researchers in this area. They have managed to write a comprehensible, accessible, and up-to-date textbook, which I predict will become the standard reference for courses in entrepreneurial finance and venture capital for years to come. * Per Strömberg, SSE Centennial Professor of Finance and Private Equity, Swedish House of Finance *Table of ContentsChapter 1 : Introduction to Entrepreneurial FinanceChapter 2: Evaluating Venture OpportunitiesChapter 3: The Financial PlanChapter 4: Ownership and ReturnsChapter 5: Valuation MethodsChapter 6: Term SheetsChapter 7: Structuring DealsChapter 8: Corporate GovernanceChapter 9: Staged FinancingChapter 10: Debt FinancingChapter 11: ExitChapter 12: Venture CapitalChapter 13: Early-Stage InvestorsChapter 14: Ecosystems

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Book SynopsisA one-stop resource for understanding and applying current International Financial Reporting Standards The move to International Financial Reporting Standards (IFRS) is the single most important initiative in the financial reporting world, with more than 100 countries requiring or allowing the use of IFRS for the preparation of financial statements by publicly held companies. It is expected that by 2011, more than 150 countries will be converting to it. It''s clear that IFRS is here to stayget the expert advice you need to properly implement IFRS with Understanding IFRS Fundamentals: International Financial Reporting Standards. Filled with easy-to-follow examples and case studies, Understanding IFRS Fundamentals: International Financial Reporting Standards is your handy resource to all things IFRS, presenting: Authoritative advice and simple explanations of IFRS standards Topical arrangement of issues of common iTable of Contents Preface vii About the Authors ix Introduction xi 1 Introduction to International Financial Reporting Standards 1 2 IASB Framework 11 3 Presentation of Financial Statements (IAS 1) 17 4 Inventories (IAS 2) 27 5 Statement of Cash Flows (IAS 7) 35 6 Accounting Policies, Changes in Accounting Estimates, and Errors (IAS 8) 41 7 Events After the Reporting Period (IAS 10) 49 8 Construction Contracts (IAS 11) 53 9 Income Taxes (IAS 12) 59 10 Property, Plant, and Equipment (IAS 16) 69 11 Leases (IAS 17) 77 12 Revenue (IAS 18) 87 13 Employee Benefits (IAS 19) 95 14 Accounting for Government Grants and Disclosure of Government Assistance (IAS 20) 107 15 The Effects of Changes in Foreign Exchange Rates (IAS 21) 111 16 Borrowing Costs (IAS 23) 119 17 Related-Party Disclosures (IAS 24) 123 18 Accounting and Reporting by Retirement Benefit Plans (IAS 26) 131 19 Consolidated and Separate Financial Statements (IAS 27) 143 20 Investments in Associates (IAS 28) 155 21 Financial Reporting in Hyperinflationary Economies (IAS 29) 163 22 Interests in Joint Ventures (IAS 31) 171 23 Financial Instruments: Presentation (IAS 32) 177 24 Earnings Per Share (IAS 33) 187 25 Interim Financial Reporting (IAS 34) 195 26 Impairment of Assets (IAS 36) 207 27 Provisions, Contingent Liabilities, and Contingent Assets (IAS 37) 215 28 Intangible Assets (IAS 38) 223 29 Financial Instruments: Recognition and Measurement (IAS 39) 231 30 Investment Property (IAS 40) 261 31 Agriculture (IAS 41) 267 32 First-Time Adoption of International Financial Reporting Standards (IFRS 1) 277 33 Share-Based Payment (IFRS 2) 295 34 Business Combinations (IFRS 3) 305 35 Insurance Contracts (IFRS 4) 321 36 Noncurrent Assets Held for Sale and Discontinued Operations (IFRS 5) 331 37 Exploration for and Evaluation of Mineral Resources (IFRS 6) 339 38 Financial Instruments: Disclosures (IFRS 7) 345 39 Operating Segments (IFRS 8) 363 40 Financial Instruments (IFRS 9) 369 41 International Financial Reporting Standards (IFRS) for Small and Medium Enterprises (SMEs) 383 Index 395

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Book SynopsisFirm valuation is currently a very exciting topic. It is interesting for those economists engaged in either practice or theory, particularly for those in finance. The literature on firm valuation recommends logical, quantitative methods, which deal with establishing today''s value of future free cash flows. In this respect firm valuation is identical with the calculation of the discounted cash flow, DCF. There are, however, different coexistent versions, which seem to compete against each other. Entity approach and equity approach are thus differentiated. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), whereby these two concepts are classified under entity approach. Why are there several procedures and not just one? Do they all lead to the same result? If not, where do the economic differences lie? If so, for what purpose are different methods needed? And further: do the known procedures suffice? Or are there situatTable of ContentsList of Figures. List of Symbols. List of Definitions, Theorems, etc. Acknowledgments. Introduction. 1. Basic Elements. 1.1 Fundamental terms. 1.1.1 Cash flows. 1.1.2 Taxes. 1.1.3 Cost of capital. 1.1.4 Time. Problems. 1.2 Conditional expectation. 1.2.1 Uncertainty and information. 1.2.2 Rules. 1.2.3 Example. Problems. 1.3 A first glance at business values. 1.3.1 Valuation concept. 1.3.2 Cost of capital as conditional expected returns. 1.3.3 A first valuation equation. 1.3.4 Fundamental theorem of asset pricing. Problems. 1.4 Further literature. 2. Corporate Income Tax. 2.1 Unlevered firms. 2.1.1 Valuation equation. 2.1.2 Weak auto-regressive cash flows. 2.1.3 Example (continued). Problems. 2.2 Basics about levered firms. 2.2.1 Equity and debt. 2.2.2 Earnings and taxes. 2.2.3 Financing policies. 2.2.4 Default. 2.2.5 Example (finite case continued). Problems. 2.3 Autonomous financing. 2.3.1 Adjusted present value (APV). 2.3.2 Example (continued). Problems. 2.4 Financing based on market values. 2.4.1 Flow to equity (FTE). 2.4.2 Total cash flow (TCF). 2.4.3 Weighted average cost of capital (WACC). 2.4.4 Miles-Ezzell– and Modigliani-Miller adjustments. 2.4.5 Example (continued). Problems. 2.5 Financing based on book values. 2.5.1 Assumptions. 2.5.2 Full distribution policy. 2.5.3 Replacement investments. 2.5.4 Investment policy based on cash flows. 2.5.5 Example (continued). Problems. 2.6 Other financing policies. 2.6.1 Financing based on cash flows. 2.6.2 Financing based on dividends. 2.6.3 Financing based on debt-cash flow ratio. 2.6.4 Comparing alternative forms of financing. Problems. 2.7 Further literature. 3. Personal Income Tax. 3.1 Unlevered and levered firms. 3.1.1 ‘Leverage’ interpreted anew. 3.1.2 The unlevered firm. 3.1.3 Income and taxes. 3.1.4 Fundamental theorem. 3.1.5 Tax shield and distribution policy. 3.1.6 Example (continued). Problems. 3.2 Excursus: Cost of equity and tax rate. Problems. 3.3 Retention policies. 3.3.1 Autonomous retention. 3.3.2 Retention based on cash flow. 3.3.3 Retention based on dividends. 3.3.4 Retention based on market value. Problems. 3.4 Further literature. 4. Corporate and Personal Income Tax. 4.1 Assumptions. 4.2 Identification and evaluation of tax advantages. 4.3 Epilogue. Problems. Appendix: Proofs. A.1 Proofs of theorems. A.2 Proof of theorem. A.3 Proof of theorem. A.4 Proofs of theorems. A.5 Proof of theorem. A.6 Proofs of theorems. A.7 Proof of theorem. A.8 Proof of theorem. Index.

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Book SynopsisCorporations face a high turnover among financial managers, rapid changes in technology, lack of time and process redesign skills, and ongoing ambiguity about primary objectives behind the budgeting and financial reporting processes. A large number of companies have ineffective and low-value budgeting and reporting processes.Table of ContentsPreface. Part One: Introduction to Business Process Improvement. 1. About Business Process Improvement. Introduction. Why Focus on Budgeting and Reporting Processes? Positive Effects of BPI. Implementing Change. Phases of a BPI Project. Core Budgeting and Reporting Processes. Closing Remarks. 2. When BPI Is Valuable. Preconditions for BPI. What BPI Can Do for a Company. BPI Overview. 3. Small and Large Projects and Associated Resources. 4. Return on Investment of BPI Projects. 5. Best Practices, Trends, and Technology. Technology Trends. Analytics and Balanced Scorecard. Impact of the Internet. 6. Selling Change to Your Organization. How to Sell a BPI Project. Part Two: Business Process Improvement Project. 7. Getting Started. Budgeting and Reporting Overview: So You Want Perfect Analytics Processes? Preparing for the BPI Project. Summary of Current Issues: Simplified Example. Using Diagrams to Visualize Processes. 8. Due Diligence. Company Values. Risks. Strengths and Weaknesses. 9. Improving the Budgeting Process. Establish a Timeline. Improve Data Entry. Do Forecasting. Report on Budgets. Complete Analysis. Enforce Accountability. Support Enablers. 10. Revenue Budgeting. Objectives. Customer Needs. Dimensions and Chart of Account Considerations. Drivers. Top-Down or Bottom-Up Budgeting Approach. Assumptions. Special Considerations. Users. Best Practices. 11. Employee Budgeting. Objectives. Customer Needs. Dimensions and Chart of Account Considerations. Top-Down or Bottom-Up Approach. Drivers. Assumptions. Special Considerations. Users. Best Practices. 12. Cost of Sales and Operating Expenses. Objectives. Customer Needs. Dimensions and Chart of Account Considerations. Top-Down or Bottom-Up Approach. Drivers. Assumptions. Special Considerations. Users. Best Practices. 13. Capital Expenses. Objectives. Customer Needs. Dimensions and Chart of Account Considerations. Top-Down or Bottom-Up Approach. Drivers. Assumptions. Special Considerations. Users. Best Practices. 14. Balance Sheet and Cash Flow Statements. Objectives. Customer Needs. Dimensions and Chart of Account Considerations. Top-Down or Bottom-Up Approach. Drivers. Assumptions. Special Considerations. Users. Best Practices. 15. Alternative Budgeting Approaches. Zero-Based Budgeting. Activity-Based Budgeting. Balanced Scorecard. Beyond Budgeting Round Table. 16. Improving Financial Reporting Processes. Ethical Concerns. Financial Reporting as a Business Process. What’s Wrong with This Picture? Looking for Improvement Opportunities. Evaluating Reporting Process Enablers. 17. Human Resources, Training, Strategy, and Workflow. Human Resources. Training. Strategy. Workflow. 18. Best Practices. Closing. Reporting. 19. Technology. Analytics Applications and the Financial Data Warehouse. Extract, Transform, and Load: Combining Data from Diverse Systems. Using XBRL for External Reporting. Intranets, Extranets, and Browsers: Using the Web to Distribute Operating and Financial Data. 20. BPI Makeover. Summary. Part Three: Designing the Ultimate Chart of Accounts. 21. Chart of Accounts Redesign. Purpose. When to Redesign. 22. Creating a New COA. General Design Considerations. Segment and Value Considerations. Design Factors. Other Considerations. Features of a Basic Chart of Accounts. Ideal Number and Use of Segments. Ideal Length of Segments. 23. COA Development Plan. Development Process. International Considerations. Sample COA Project Plan. Recommendations and Other Considerations. Summary. Part Four: Interviews. 24. Robert Blake, Microsoft Corporation. 25. Dean Sorensen, Bywater Management Consulting. 26. Bill Ellenback, Software User. Part Five: Software Tools and Resources. 27. Selecting Analytics Software. Devise a Plan. Using a Software Selection Company. 28. Software Evaluation: Factors to Consider. Current and Future Use Requirements. Winning Company Buy-in. Cost/Benefit Analysis. Return on Investment Analysis for New Software. Features and Flexibility. Compatibility with Existing Software. Ease of Use. Software Stability. Vendor-Related Items. Working with an Implementation Partner. How to Select: Summary. 29. Software Buyer’s Guide. Query and Reporting Systems. Decision Support Systems. Budgeting and Planning Solutions. Enterprise Information Portals. Data Warehouse Software. ETL Software Vendors. e-Learning Software Vendors. Appendix A: Sample Confidentiality and Nondisclosure Agreement (Sales/Demo Process). Appendix B: Sample Consulting Agreement. Appendix C: Software Vendor Listing. Appendix D: Sample Chart of Accounts. Glossary. Index.

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Book SynopsisProtecting nonprofits from both internal and external fraud This book addresses the most common fraud and abuse schemes committed against nonprofit organizations and explains how those schemes can be prevented and detected. It includes checklists covering each area of fraud and abuse as well as sample policies.Table of ContentsPART I. INTRODUCTION TO THE PREVENTION AND DETECTION OF FRAUD AND ABUSE. Chapter 1. An Introduction to Fraud in the Nonprofit Sector. Chapter 2. Overview of a Model for the Prevention and Detection of Fraud and Abuse. PART II. FINANCIAL CONTROLS ASSOCIATED WITH SPECIFIC CATEGORIES OF FRAUD AND ABUSE. Chapter 3. Revenue and Cash Receipts. Chapter 4. Purchasing and Cash Disbursements. Chapter 5. Payroll and Expense Reimbursements. Chapter 6. Other Asset Misappropriations and Misuse. Chapter 7. External Frauds. PART III. FRAUDS COMMITTED BY, FOR, OR THROUGH NONPROFIT ORGANIZATIONS. Chapter 8. Fundraising Fraud and Abuse. Chapter 9. Fraudulent Reporting. Chapter 10. Other Acts Attributable to Nonprofit Organizations. PART IV. THE ROLES OF NON-FINANCIAL SYSTEMS. Chapter 11. Human Resource Policies and Procedures. Chapter 12. Administrative Systems and Policies. PART V. THE ROLE OF MANAGEMENT AND THE BOARD OF DIRECTORS. Chapter 13. Day-to-Day Management Activities. Chapter 14. The Role of the Board of Directors. Chapter 15. Financial Oversight and Analysis. Appendix. Example Policies and Checklists.

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Book SynopsisCovers financial management with an international focus. Written by a noted corporate finance specialist, this book assists operating managers in attaining the financial objectives of their companies and reporting financial results to owners, creditors, and employees.Table of ContentsPreface. Part 1 Financial Management and Corporate Governance. Financial Management and Corporate Governance. Fundamental Methods of Financial Analysis. An Introduction to Corporate Debt and Equity. Shareholder Value in Efficient Markets. Part 2 Valuation of Investment and Real Options. An Introduction to the Appraisal of Capital Projects. Pitfalls in Project Appraisal. Further Project Appraisal Methods. Appraising Projects with Real Options. Valuing Interrelated Real Options. Valuation of Companies with Real Options. Mergers and Acquisitions. Part 3 Financial Structure. Portfolio Theory and Asset Pricing. Calculating the Cost of Capital. Long-term Financing. Dividend Policy. Divident Policy. Part 4 Solvency Management. Lease Finance. Financial Planning and Solvency. Managing Debtor Risk. Managing Inventory Risk. Managing Interest and Exchange Rate Risks. Part 5 International Investment. Appraising International Capital Projects. Present Value Tables. Probability Table. INdex.

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Book SynopsisAccounting irregularities are at the heart of those kinds of frauds that hit financial statements and include misstatement, misclassification as well as misrepresentation. In essence, they involve manipulation of accounting data, description or disclosure in order to distort the true financial picture of the organization in question. This book provides an in-depth practical reference, designed for litigators, investigators, auditors, accountants and other professionals who need to understand and combat accounting irregularities and to uphold the integrity of financial statements. Regulators will find this book an essential source of ideas and references when considering reforms. Educators and students will see this book as an alternative, inspiring way of understanding accounting and how to stay alert for accounting irregularities. The first two chapters introduce the basics of accounting irregularities in the context of the financial reporting environments, and generally accepted Trade Review'The simple language, use of case studies and concise and helpful checklist conclusions mean that this book provides an overview of the principles of accounting for a student or professional....If you are an accountant in a large corporation who is bogged down by procedures, this book serves as a refreshing reminder of why they are in place.' Accounting TechnicianTable of ContentsContents: Overview of financial reporting environments; Basics of accounting irregularitites; Selling more; Costing less; Owning more; Owing less; Presenting it better; Other types of accounting irregularities; Deterrents to accounting irregularities; Glossary of Terms; Index.

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Book SynopsisIs there evidence that performance budget reform increases administrative discretion? This book examines that question by testing the fit between reform expectations and reform outcomes as viewed by practitioners.

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Book SynopsisThis down-to-earth guide provides nonprofit executives and board members with the information and tools they need to create a persuasive and effective annual report.Trade Review"This book is a first rate guide at producing a quality annualreport on budget and on time." (CharityChannel.com, December6, 2002)"As the former CEO of an educational nonprofit whose heart sank atthe sound of the words 'we have to put together the annual report,'I now make only one recommendation-Buy this book and do what itsays." --John Agresto, president, John Agresto &Associates, former deputy chairman, National Endowment for theHumanities "At last, a book that helps nonprofit associations produceannual reports on time, on budget, and on target for theiraudiences." --J. D. Andrews, chairman, the Council forProfessional Recognition "Timely, relevant, and thorough-every nonprofit that publishesannual reports should have this book, and those that don't shouldheed its counsel. We'll certainly recommend it to our clients."--George A. Brakeley III, president, Brakeley, Inc. "Chock full of useful information for nonprofits from small tolarge. In the course of describing the production process fromconceptualization through distribution, Taylor shows how this vitalcommunications tool can be published economically and on time."--David Slater, director of communications, the Chesapeake BayFoundationTable of ContentsTables, Figures, and Exhibits. Foreword (Kathryn S. Fuller). Preface. Acknowledgments. The Author. Introduction. 1. Why Publish an Annual Report? 2. Key Players: Their Roles and Responsibilities. 3. Elements of the Annual Report. 4. Planning, Scheduling, and Tracking Production. 5. Writing the Executive Message. 6. Writing the Review of Operations. 7. Editing and Managing Production. 8. Integrating Text with Design. 9. Illustrations and Graphics. 10. Printing and Distribution. 11. Evaluating Success and Spotting Trouble. Glossary: Graphic Arts and Mailing Terms. References. Recommended Reading. Index.

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Book SynopsisThe financial statements of banks differ very much from those of non-banks. The assets and liabilities are mostly financial based, and the equity ratio is far lower than the equity ratios of industrial companies. Banking supervision has a big influence on the financial statements too. Recent years have shown the risks which can evolve from banks, but normal instruments of financial statement analysis are not sufficient to analyse banks and locate these risks: different methods are needed.This book, by experienced bank analyst Thomas Padberg, provides analysts and investors with the tools to analyse bank financial statements, find problems in bank finances, and assess the risks of banks. Examples with real bank financial data are used to show readers the step-by-step methods to follow when looking at bank financial statements.The book covers:- The specific accounting rules that apply to banks- How to analyse bank segment reporting- The ratios to use when analysing bank financial statements- How to analyse bank profit and loss accounts- Equity analysis and stock analysis of banksThis is an essential guide for all analysts and serious investors who need to analyse bank financial statements.

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Book SynopsisThe influence of International Financial Reporting Standards (IFRS) on accounting across the world is stronger than ever. The book addresses the implications for analysis, modelling and valuation of key aspects of IFRS, all updated for recent developments

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Book SynopsisFor accountants, determining the correct wording and presentation formats for disclosures is a time-consuming effort. Financial statement preparers look for examples that they can tailor to their own statements. This book provides users with a complete set of tools to prepare their statements.Table of ContentsPreface ix About the Author xi 1 ASC 105 Generally Accepted Accounting Principles 1 2 ASC 205 Presentation of Financial Statements 5 3 ASC 210 Balance Sheet 27 4 ASC 215 Statement of Shareholder Equity 45 5 ASC 220 Income Statement—Reporting Comprehensive Income 47 6 ASC 230, Statement of Cash Flows 63 7 ASC 235 Notes to Financial Statements 77 8 ASC 250 Accounting Changes and Error Corrections 99 9 ASC 255 Changing Prices 121 10 ASC 260 Earnings Per Share 125 11 ASC 270 Interim Reporting 139 12 ASC 272 Limited Liability Entities 149 13 ASC 274 Personal Financial Statements 153 14 ASC 275 Risks and Uncertainties 159 15 ASC 280 Segment Reporting 169 16 ASC 310 Receivables 177 17 ASC 320 Investments—Debt Securities 195 18 ASC 321 Investments—Equity Securities 209 19 ASC 323 Investments—Equity Method and Joint Ventures 217 20 ASC 325 Investments—Other 231 21 ASC 326 Financial Instruments—Credit Losses 239 22 ASC 330 Inventory 251 23 ASC 340 Other Assets and Deferred Costs 261 24 ASC 350 Intangibles—Goodwill and Other 269 25 ASC 360 Property, Plant, and Equipment 291 26 ASC 405 Liabilities 303 27 ASC 410 Asset Retirement and Environmental Obligations 309 28 ASC 420 Exit or Disposal Cost Obligations 323 29 ASC 430 Deferred Revenue and Contract Liabilities 331 30 ASC 440 Commitments 333 31 ASC 450 Contingencies 339 32 ASC 460 Guarantees 349 33 ASC 470 Debt 359 34 ASC 480 Distinguishing Liabilities from Equity 377 35 ASC 505 Equity 387 36 ASC 605 Revenue Recognition 409 37 ASC 606 Revenue from Contracts with Customers 411 38 ASC 610 Other Income 443 39 ASC 705 Cost of Sales and Services 449 40 ASC 710 Compensation—General 451 41 ASC 712 Compensation—Nonretirement Postemployment Benefits 457 42 ASC 715 Compensation—Retirement Benefits 459 43 ASC 718 Compensation—Stock Compensation 489 44 ASC 720 Other Expenses 499 45 ASC 730 Research and Development 507 46 ASC 740 Income Taxes 513 47 ASC 805 Business Combinations 529 48 ASC 808 Collaborative Arrangements 551 49 ASC 810 Consolidations 563 50 ASC 815 Derivatives and Hedging 587 51 ASC 820 Fair Value Measurement 619 52 ASC 825 Financial Instruments 627 53 ASC 830 Foreign Currency Matters 641 54 ASC 835 Interest 649 55 ASC 840 Leases 657 56 ASC 842 Leases 665 57 ASC 845 Nonmonetary Transactions 685 58 ASC 848 Reference Rate Reform 691 59 ASC 850 Related-Party Disclosures 699 60 ASC 852 Reorganizations 707 61 ASC 853 Service Concession Arrangements 729 62 ASC 855 Subsequent Events 733 63 ASC 860 Transfers and Servicing 739 Index 751

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Book SynopsisTable of ContentsPreface to Fifth Edition xi Acknowledgments xv Part One Reading Between the Lines 1 Chapter 1 The Adversarial Nature of Financial Reporting 3 The Purpose of Financial Reporting 4 The Flaws in the Reasoning 8 Small Profits and Big Baths 12 Maximizing Growth Expectations 13 Downplaying Contingencies 20 The Importance of Being Skeptical 23 Conclusion 27 Part Two The Basic Financial Statements 31 Chapter 2 The Balance Sheet 33 The Value Problem 34 Comparability Problems in the Valuation of Financial Assets 36 Instantaneous Wipeout of Value 38 How Good Is Goodwill? 40 Losing Value the Old-Fashioned Way 44 True Equity Is Elusive 45 Book Value May Overstate Reality 46 Pros and Cons of a Market-Based Equity Figure 49 The Common Form Balance Sheet 51 Conclusion 53 Chapter 3 The Income Statement 55 Making the Numbers Talk 55 How Real Are the Numbers? 61 Conclusion 85 Chapter 4 The Statement of Cash Flows 87 The Cash Flow Statement and the Leveraged Buyout 89 Analytical Applications 95 In Defense of Slack 121 Conclusion 123 Part Three A Closer Look at Profits 125 Chapter 5 What Is Profit? 127 Bona Fide Profits versus Accounting Profits 127 Which Costs Count? 130 Conclusion 134 Chapter 6 Revenue Recognition 135 Making It Up at Gowex 135 Globo’s Foreseen Fall from Grace 139 Channel-Stuffing in the Drug Business 143 A Second Take on Earnings 146 Making the Numbers at M/A-Com 149 Astray on Layaway 151 Recognizing Membership Fees 152 A Potpourri of Liberal Revenue Recognition Techniques 155 Fattening Earnings with Empty Calories 156 Tardy Disclosure at Halliburton 162 Managing Earnings with Rainy Day Reserves 165 Fudging the Numbers: A Systematic Problem 168 Conclusion 171 Chapter 7 Expense Recognition 173 Diamond Foods’s Movable Expenses 173 Nortel’s Deferred Profit Plan 176 Grasping for Earnings at General Motors 181 Time-Shifting at Freddie Mac 184 Conclusion 186 Chapter 8 The Applications and Limitations of EBITDA 187 EBIT, EBITDA, and Total Enterprise Value 188 The Role of EBITDA in Credit Analysis 193 Abusing EBITDA 196 A More Comprehensive Cash Flow Measure 198 Working Capital Adds Punch to Cash Flow Analysis 201 Conclusion 203 Chapter 9 The Reliability of Disclosure and Audits 205 Where Was the Cash? 206 Sloppiness Can Be a Red Flag 210 How Manipulation Evades Detection 214 Systematic Problems in Auditing 215 Conclusion 220 Chapter 10 Mergers-and-Acquisitions Accounting 221 Goodwill Goes Bad 223 Double Trouble 224 Conclusion 227 Chapter 11 Is Fraud Detectable? 229 Telltale Signs of Manipulation 230 Fraudsters Know Few Limits 233 Enron: A Media Sensation 233 HealthSouth’s Excruciating Ordeal 242 Milk and Other Liquid Assets 249 Trouble Was Brewing at Luckin 252 Conclusion 254 Part Four Forecasts and Security Analysis 255 Chapter 12 Forecasting Financial Statements 257 A Typical One-Year Projection 257 Sensitivity Analysis with Projected Financial Statements 270 Projecting Financial Flexibility 276 Pro Forma Financial Statements 279 Multiyear Projections 285 Conclusion 299 Chapter 13 Credit Analysis 301 Balance Sheet Ratios 302 Income Statement Ratios 311 Statement of Cash Flows Ratios 316 Combination Ratios 318 Relating Ratios to Credit Risk 326 Conclusion 342 Chapter 14 Equity Analysis 343 The Dividend Discount Model 344 The Price-Earnings Ratio 350 The Du Pont Formula 360 Valuation through Restructuring Potential 364 Advanced Equity Analysis 370 Conclusion 373 Notes 375 Glossary 387 Further Reading 405 About the Authors 407 Index 409

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Book SynopsisTable of ContentsPreface xv Acknowledgments xvii About the CFA Institute Investment Series xix Chapter 1 Introduction to Financial Statement Analysis 1 Learning Outcomes 1 1. Introduction 1 2. Roles of Financial Reporting and Financial Statement Analysis 2 3. Primary Financial Statements and Other Information Sources 8 3.1. Financial Statements and Supplementary Information 9 3.2. Other Sources of Information 28 4. Financial Statement Analysis Framework 28 4.1. Articulate the Purpose and Context of Analysis 30 4.2. Collect Data 30 4.3. Process Data 31 4.4. Analyze/Interpret the Processed Data 31 4.5. Develop and Communicate Conclusions/Recommendations 32 4.6. Follow-Up 32 5. Summary 32 References 34 Practice Problems 34 Chapter 2 Financial Reporting Standards 37 Learning Outcomes 37 1. Introduction 37 2. The Objective of Financial Reporting 38 3. Standard-Setting Bodies and Regulatory Authorities 39 3.1. Accounting Standards Boards 39 3.2. Regulatory Authorities 41 4. The International Financial Reporting Standards Framework 46 4.1. Qualitative Characteristics of Financial Reports 46 4.2. Constraints on Financial Reports 48 4.3. The Elements of Financial Statements 49 4.4. General Requirements for Financial Statements 50 5. Comparison of IFRS with Alternative Reporting Systems 53 6. Monitoring Developments in Financial Reporting Standards 55 6.1. New Products or Types of Transactions 55 6.2. Evolving Standards and the Role of CFA Institute 55 7. Summary 57 Practice Problems 58 Chapter 3 Understanding Income Statements 61 Learning Outcomes 61 1. Introduction 62 2. Components and Format of the Income Statement 62 3. Revenue Recognition 68 3.1. General Principles 69 3.2. Accounting Standards for Revenue Recognition 70 4. Expense Recognition 73 4.1. General Principles 74 4.2. Issues in Expense Recognition 78 4.3. Implications for Financial Analysis 83 5. Non-Recurring Items and Non-Operating Items 84 5.1. Discontinued Operations 84 5.2. Unusual or Infrequent Items 85 5.3. Changes in Accounting Policies 86 5.4. Non-Operating Items 89 6. Earnings per Share 90 6.1. Simple versus Complex Capital Structure 90 6.2. Basic EPS 91 6.3. Diluted EPS 92 6.4. Changes in EPS 98 7. Analysis of the Income Statement 99 7.1. Common-Size Analysis of the Income Statement 99 7.2. Income Statement Ratios 101 8. Comprehensive Income 103 9. Summary 106 Practice Problems 108 Chapter 4 Understanding Balance Sheets 113 Learning Outcomes 113 1. Introduction 113 2. Components and Format of the Balance Sheet 114 2.1. Balance Sheet Components 115 2.2. Current and Non-Current Classification 116 2.3. Liquidity-Based Presentation 117 3. Current Assets and Current Liabilities 118 3.1. Current Assets 118 3.2. Current Liabilities 123 4. Non-Current Assets 127 4.1. Property, Plant, and Equipment 128 4.2. Investment Property 129 4.3. Intangible Assets 129 4.4. Goodwill 132 4.5. Financial Assets 135 4.6. Deferred Tax Assets 138 5. Non-Current Liabilities 139 5.1. Long-term Financial Liabilities 140 5.2. Deferred Tax Liabilities 140 6. Equity 141 6.1. Components of Equity 141 6.2. Statement of Changes in Equity 144 7. Analysis of the Balance Sheet 145 7.1. Common-Size Analysis of the Balance Sheet 146 7.2. Balance Sheet Ratios 153 8. Summary 156 Practice Problems 158 Chapter 5 Understanding Cash Flow Statements 163 Learning Outcomes 163 1. Introduction 163 2. Components and Format of the Cash Flow Statement 164 2.1. Classification of Cash Flows and Non-Cash Activities 165 2.2. A Summary of Differences between IFRS and US GAAP 167 2.3. Direct and Indirect Methods for Reporting Cash Flow from Operating Activities 168 3. The Cash Flow Statement: Linkages and Preparation 177 3.1. Linkages of the Cash Flow Statement with the Income Statement and Balance Sheet 178 3.2. Steps in Preparing the Cash Flow Statement 179 3.3. Conversion of Cash Flows from the Indirect to the Direct Method 191 4. Cash Flow Statement Analysis 192 4.1. Evaluation of the Sources and Uses of Cash 193 4.2. Common-Size Analysis of the Statement of Cash Flows 197 4.3. Free Cash Flow to the Firm and Free Cash Flow to Equity 202 4.4. Cash Flow Ratios 204 5. Summary 205 Practice Problems 206 Chapter 6 Financial Analysis Techniques 213 Learning Outcomes 213 1. Introduction 213 2. The Financial Analysis Process 214 2.1. The Objectives of the Financial Analysis Process 215 2.2. Distinguishing between Computations and Analysis 216 3. Analytical Tools and Techniques 218 3.1. Ratios 221 3.2. Common-Size Analysis 226 3.3. The Use of Graphs as an Analytical Tool 232 3.4. Regression Analysis 233 4. Common Ratios Used in Financial Analysis 234 4.1. Interpretation and Context 234 4.2. Activity Ratios 235 4.3. Liquidity Ratios 241 4.4. Solvency Ratios 246 4.5. Profitability Ratios 250 4.6. Integrated Financial Ratio Analysis 254 5. Equity Analysis 262 5.1. Valuation Ratios 262 5.2. Industry-Specific Ratios 265 5.3. Historical Research on Ratios in Equity Analysis 267 6. Credit Analysis 268 6.1. The Credit Rating Process 268 6.2. Historical Research on Ratios in Credit Analysis 269 7. Business and Geographic Segments 270 7.1. Segment Reporting Requirements 270 7.2. Segment Ratios 271 8. Model Building and Forecasting 274 9. Summary 275 References 275 Practice Problems 276 Chapter 7 Inventories 283 Learning Outcomes 283 1. Introduction 283 2. Cost of Inventories 285 3. Inventory Valuation Methods 286 3.1. Specific Identification 287 3.2. First-In, First-Out (FIFO) 287 3.3. Weighted Average Cost 287 3.4. Last-In, First-Out (LIFO) 288 3.5. Calculation of Cost of Sales, Gross Profit, and Ending Inventory 288 3.6. Periodic versus Perpetual Inventory Systems 290 3.7. Comparison of Inventory Valuation Methods 293 4. The LIFO Method 295 4.1. LIFO Reserve 295 4.2. LIFO Liquidations 296 5. Inventory Method Changes 303 6. Inventory Adjustments 304 7. Evaluation of Inventory Management 311 7.1. Presentation and Disclosure 312 7.2. Inventory Ratios 312 7.3. Financial Analysis Illustrations 313 8. Summary 323 Practice Problems 325 Chapter 8 Long-Lived Assets 339 Learning Outcomes 339 1. Introduction 340 2. Acquisition of Long-Lived Assets 340 2.1. Property, Plant, and Equipment 341 2.2. Intangible Assets 343 2.3. Capitalizing versus Expensing: Impact on Financial Statements and Ratios 348 2.4. Capitalization of Interest Costs 353 2.5. Capitalization of Internal Development Costs 355 3. Depreciation and Amortization of Long-Lived Assets 359 3.1. Depreciation Methods and Calculation of Depreciation Expense 360 3.2. Amortization Methods and Calculation of Amortization Expense 368 4. The Revaluation Model 369 5. Impairment of Assets 373 5.1. Impairment of Property, Plant, and Equipment 373 5.2. Impairment of Intangible Assets with a Finite Life 375 5.3. Impairment of Intangibles with Indefinite Lives 376 5.4. Impairment of Long-Lived Assets Held for Sale 376 5.5. Reversals of Impairments of Long-Lived Assets 376 6. Derecognition 376 6.1. Sale of Long-Lived Assets 377 6.2. Long-Lived Assets Disposed of Other than by a Sale 378 7. Presentation and Disclosures 379 8. Investment Property 389 9. Summary 393 Practice Problems 395 Chapter 9 Income Taxes 407 Learning Outcomes 407 1. Introduction 408 2. Differences between Accounting Profit and Taxable Income 408 2.1. Current Tax Assets and Liabilities 409 2.2. Deferred Tax Assets and Liabilities 410 3. Determining the Tax Base of Assets and Liabilities 413 3.1. Determining the Tax Base of an Asset 414 3.2. Determining the Tax Base of a Liability 415 3.3. Changes in Income Tax Rates 417 4. Temporary and Permanent Differences Between Taxable and Accounting Profit 418 4.1. Taxable Temporary Differences 419 4.2. Deductible Temporary Differences 419 4.3. Examples of Taxable and Deductible Temporary Differences 420 4.4. Temporary Differences at Initial Recognition of Assets and Liabilities 422 4.5. Business Combinations and Deferred Taxes 423 4.6. Investments in Subsidiaries, Branches, Associates, and Interests in Joint Ventures 423 5. Unused Tax Losses and Tax Credits 423 6. Recognition and Measurement of Current and Deferred Tax 424 6.1. Recognition of a Valuation Allowance 425 6.2. Recognition of Current and Deferred Tax Charged Directly to Equity 425 7. Presentation and Disclosure 428 8. Comparison of IFRS and US GAAP 433 9. Summary 436 Practice Problems 437 Chapter 10 Non-Current (Long-Term) Liabilities 443 Learning Outcomes 443 1. Introduction 443 2. Bonds Payable 444 2.1. Accounting for Bond Issuance 444 2.2. Accounting for Bond Amortization, Interest Expense, and Interest Payments 448 2.3. Current Market Rates and Fair Value Reporting Option 453 2.4. Derecognition of Debt 457 2.5. Debt Covenants 459 2.6. Presentation and Disclosure of Long-Term Debt 461 3. Leases 464 3.1. Lessee accounting 465 3.2. Lessor accounting 466 4. Introduction to Pensions and Other Post- Employment Benefits 468 5. Evaluating Solvency: Leverage and Coverage Ratios 472 6. Summary 475 Practice Problems 477 Chapter 11 Financial Reporting Quality 483 Learning Outcomes 483 1. Introduction 484 2. Conceptual Overview 484 2.1. GAAP, Decision-Useful, Sustainable, and Adequate Returns 486 2.2. GAAP, Decision-Useful, but Sustainable? 486 2.3. Biased Accounting Choices 487 2.4. Departures from GAAP 496 2.5. Differentiate between Conservative and Aggressive Accounting 498 3. Context for Assessing Financial Reporting Quality 501 3.1. Motivations 501 3.2. Conditions Conducive to Issuing Low-Quality Financial Reports 501 3.3. Mechanisms That Discipline Financial Reporting Quality 502 4. Detection of Financial Reporting Quality Issues 510 4.1. Presentation Choices 510 4.2. Accounting Choices and Estimates 516 4.3. Warning Signs 533 5. Summary 538 References 539 Practice Problems 540 Chapter 12 Applications of Financial Statement Analysis 545 Learning Outcomes 545 1. Introduction 545 2. Application: Evaluating Past Financial Performance 546 3. Application: Projecting Future Financial Performance 550 3.1. Projecting Performance: An Input to Market-Based Valuation 551 3.2. Projecting Multiple-Period Performance 555 4. Application: Assessing Credit Risk 559 5. Application: Screening for Potential Equity Investments 561 6. Analyst Adjustments to Reported Financials 565 6.1. A Framework for Analyst Adjustments 565 6.2. Analyst Adjustments Related to Investments 565 6.3. Analyst Adjustments Related to Inventory 566 6.4. Analyst Adjustments Related to Property, Plant, and Equipment 569 6.5. Analyst Adjustments Related to Goodwill 571 7. Summary 573 References 574 Practice Problems 574 Chapter 13 Intercorporate Investments 577 Learning Outcomes 577 1. Introduction 577 2. Basic Corporate Investment Categories 578 3. Investments in Financial Assets: IFRS 9 579 3.1. Classification and Measurement 580 3.2. Reclassification of Investments 582 4. Investments in Associates and Joint Ventures 583 4.1. Equity Method of Accounting: Basic Principles 584 4.2. Investment Costs That Exceed the Book Value of the Investee 587 4.3. Amortization of Excess Purchase Price 588 4.4 Fair Value Option 590 4.5. Impairment 591 4.6. Transactions with Associates 591 4.7. Disclosure 594 4.8. Issues for Analysts 595 5. Business Combinations 595 5.1. Acquisition Method 597 5.2. Impact of the Acquisition Method on Financial Statements, Post-Acquisition 599 5.3. Th e Consolidation Process 601 5.4. Financial Statement Presentation Subsequent to the Business Combination 607 5.5. Variable Interest and Special Purpose Entities 610 5.6. Additional Issues in Business Combinations That Impair Comparability 613 6. Summary 614 Practice Problems 615 Chapter 14 Employee Compensation: Post-Employment and Share-Based 627 Learning Outcomes 627 1. Introduction 627 2. Pensions and Other Post-Employment Benefits 628 2.1. Types of Post-Employment Benefit Plans 628 2.2. Measuring a Defined Benefit Pension Plan’s Obligations 631 2.3. Financial Statement Reporting of Pension Plans and Other Post-Employment Benefits 632 2.4. Disclosures of Pension and Other Post-Employment Benefits 645 3. Share-Based Compensation 656 3.1. Stock Grants 658 3.2. Stock Options 659 3.3. Other Types of Share-Based Compensation 662 4. Summary 662 Reference 663 Practice Problems 663 Chapter 15 Multinational Operations 673 Learning Outcomes 673 1. Introduction 674 2. Foreign Currency Transactions 675 2.1. Foreign Currency Transaction Exposure to Foreign Exchange Risk 676 2.2. Analytical Issues 680 2.3. Disclosures Related to Foreign Currency Transaction Gains and Losses 682 3. Translation of Foreign Currency Financial Statements 688 3.1. Translation Conceptual Issues 688 3.2. Translation Methods 693 3.3. Illustration of Translation Methods (Excluding Hyperinflationary Economies) 701 3.4. Translation Analytical Issues 704 3.5. Translation when a Foreign Subsidiary Operates in a Hyperinflationary Economy 716 3.6. Companies Use Both Translation Methods at the Same Time 720 3.7. Disclosures Related to Translation Methods 721 4. Multinational Operations and a Company’s Effective Tax Rate 727 5. Additional Disclosures on the Effects of Foreign Currency 730 5.1. Disclosures Related to Sales Growth 730 5.2. Disclosures Related to Major Sources of Foreign Exchange Risk 733 6. Summary 734 Practice Problems 736 Chapter 16 Analysis of Financial Institutions 749 Learning Outcomes 749 1. Introduction 749 2. What Makes Financial Institutions Different? 750 2.1. Global Organizations 753 2.2. Individual Jurisdictions’ Regulatory Authorities 755 3. Analyzing a Bank 756 3.1. The CAMELS Approach 756 3.2. Other Factors Relevant to Analysis of a Bank 773 3.3. An Illustration of the CAMELS Approach to Analysis of a Bank 777 4. Analyzing an Insurance Company 800 4.1. Property and Casualty Insurance Companies 800 4.2. Life and Health Insurance Companies 809 5. Summary 816 Practice Problems 817 Chapter 17 Evaluating Quality of Financial Reports 825 Learning Outcomes 825 1. Introduction 825 2. Quality of Financial Reports 827 2.1. Conceptual Framework for Assessing the Quality of Financial Reports 827 2.2. Potential Problems that Affect the Quality of Financial Reports 829 3. Evaluating the Quality of Financial Reports 840 3.1. General Steps to Evaluate the Quality of Financial Reports 841 3.2. Quantitative Tools to Assess the Likelihood of Misreporting 842 4. Earnings Quality 845 4.1. Indicators of Earnings Quality 845 4.2. Evaluating the Earnings Quality of a Company (Cases) 855 4.3. Bankruptcy Prediction Models 866 5. Cash Flow Quality 867 5.1. Indicators of Cash Flow Quality 867 5.2. Evaluating Cash Flow Quality 868 6. Balance Sheet Quality 876 7. Sources of Information about Risk 880 7.1. Limited Usefulness of Auditor’s Opinion as a Source of Information about Risk 880 7.2. Risk-Related Disclosures in the Notes 884 7.3. Management Commentary (Management Discussion and Analysis, or MD&A) 888 7.4. Other Required Disclosures 891 7.5. Financial Press as a Source of Information about Risk 892 8. Summary 892 References 894 Practice Problems 896 Chapter 18 Integration of Financial Statement Analysis Techniques 901 Learning Outcomes 901 1. Introduction 901 2. Case Study: Long-Term Equity Investment 903 2.1. Phase 1: Define a Purpose for the Analysis 903 2.2. Phase 2: Collect Input Data 903 2.3. Phase 3: Process Data and Phase 4: Analyze/Interpret the Processed Data 904 2.4. Phase 5: Develop and Communicate Conclusions and Recommendations (e.g., with an Analysis Report) 932 2.5. Phase 6: Follow-up 933 3. Summary 933 Practice Problems 933 Glossary 937 About the Editors 947 About the CFA Program 949 Index 951

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Book SynopsisThrough a combination of practical guidance and case studies, the author provides insight into what makes not-for-profits different. Updated for revenue recognition, grants and contracts, and financial reporting, this book offers guidance on FASB's new financial statement standard and revenue recognition standard which will have a major impact on financial reporting for not for profits. It helps answer the questions: Are you aware of how not-for-profit financial statements will change because of FASB's Financial Statement Standard? Do you know what makes not-for-profit accounting and financial reporting different? Key topics include: Grants and contractsExpense reportingNFP financial statement standardRevenue recognitionPerformance measuresTable of ContentsChapter 1 1-1 Financial Reporting 1-1 Net assets 1-2 The basic financial statements 1-4 Reporting formats 1-15 Notes to the financial statements 1-19 Investments and investment income 1-20 Summary 1-27 Practice questions 1-28 Chapter 2 2-1 Exchange Transactions, Contributions, and Gains and Losses 2-1 Resources for the mission 2-3 Exchange (reciprocal) transactions 2-6 Contributions 2-15 Identifying gains and losses 2-24 Agency transactions 2-25 Summary 2-26 Practice questions 2-27 Chapter 3 3-1 Expenses 3-1 Expenses versus losses 3-2 Functional reporting of expenses 3-4 Reclassifications 3-16 Summary 3-18 Practice questions 3-19 Chapter 4 4-1 The Not-for-Profit Environment and Performance Measures 4-1 The NFP environment 4-2 Types of NFP organizations 4-6 Fund accounting 4-9 Measuring performance 4-10 Reporting information in the statement of activities 4-11 Ratios and other tools 4-13 Input, output, and outcomes 4-16 Summary 4-19 Practice questions 4-20 Appendix A A-1 Excerpt of Appendix A of Chapter 5 of AICPA Audit and Accounting Guide Not-for-Profit Entities A-1 Glossary Glossary 1 Index Index 1 Solutions Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 4 Chapter 3 Solutions 8 Chapter 4 Solutions 10

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Book SynopsisUnderstanding the basics of financial accounting can be a tricky task to master. This practical guidebook provides an overview of the fundamental principles in a jargon-free and simple format.Financial Accounting: The Basics provides concise overviews of the key financial accounting topics supplemented by practical examples and exercises to enable readers to test their knowledge and understanding in bite-sized chunks. In empowering students to learn at their own pace, the book enhances course learning to maximise chances of overall success. Topics covered include: The interpretation of financial statements and the accounting equation Processing accounting information Accounting for inventories Non-current assets and depreciation Cash flow statements and analysis With the latest coverage of  International Financial Reporting Standards (IFRS) terminology, and separate chapters on cash flow Table of Contents1. Financial Statements and the Accounting Equation; 2. Processing Accounting Information; 3. Accounting for Inventories; 4. Non-Current Assets and Depreciation; 5. Final Adjustments to Accounts; 6. Incomplete Records; 7. Partnerships; 8. Cash Flow Statements and Analysis; 9. The Interpretation of Financial Statements; 10. General Questions

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Book SynopsisBehavioral Corporate Finance provides instructors with a comprehensive pedagogical approach for teaching students how behavioral concepts apply to corporate finance. The primary goal  is to identify the key psychological obstacles to value maximizing behavior, along with steps that managers can take to mitigate the effects of these obstacles.Table of Contents1 Behavioral Foundations2 Introduction to Behavioral Analysis3 Valuation4 Capital Budgeting5 Inefficient Markets and Corporate Decisions6 Perceptions about Risk and Return7 Capital Structure8 Dividend Policy9 Agency Conflicts and Corporate Governance10 Mergers and Acquisitions11 Financial Management and Group Process

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Book Synopsis

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Book Synopsis

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Book Synopsis

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Book SynopsisJamie Elliott is a director who has worked for Deloitte, Huawei, Panasonic, and Mott MacDonald. Prior to his corporate career, he lectured in undergraduate degree programmes and was Assistant Professor in MBA and Executive Education programmes at the London Business School. Barry Elliott has extensive teaching experience in undergraduate, postgraduate, and professional programmes in England, New Zealand, China, Hong Kong, and Singapore. He has worked for Coopers & Lybrand as a Training Manager in London and National Training Manager in Australia. He has extensive experience as an external examiner in higher education at all levels of professional education.Trade Review"Well-structured, informative, and enriched with relevant examples. The coverage of established and contemporary issues within financial accounting and reporting is comprehensive." Dr Chloe Wu, Lecturer and Assistant Professor in Accounting and Finance, University of Leeds "An excellent well-written text, offering students ample examples to apply and learn. The textbook provides a balanced structure for accounting and non-accounting students." Sajid Bashir, Lecturer & Doctorate Associate in Accounting and Financial Management, Sheffield University Management School Table of ContentsBrief contents: PART 1 INTRODUCTION TO ACCOUNTING ON A CASH FLOW AND ACCRUAL ACCOUNTING BASIS Accounting and reporting on a cash flow basis Accounting and reporting on an accrual accounting basis PART 2 PREPARATION OF INTERNAL AND PUBLISHED FINANCIAL STATEMENTS Preparation of financial statements of profit or loss and other comprehensive income, changes in equity and financial position Annual report: additional financial disclosures Statements of cash flows Accounting for price-level changes PART 3 REGULATORY FRAMEWORK – AN ATTEMPT TO ACHIEVE UNIFORMITY Financial reporting – evolution of global standards Concepts – evolution of an international conceptual framework Revenue recognition PART 4 STATEMENT OF FINANCIAL POSITION – EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE Share capital, distributable profits and reduction of capital Liabilities Financial instruments Employee benefits Taxation in company accounts Property, plant and equipment (PPE) Leasing Intangible assets Inventories Construction contracts PART 5 CONSOLIDATED ACCOUNTS Accounting for groups at the date of acquisition Preparation of consolidated statements of financial position after the date of acquisition Preparation of consolidated statements of profit or loss, changes in equity and cash flows Accounting for associates and joint arrangements Introduction to accounting for exchange differences PART 6 INTERPRETATION Earnings per share Review of financial ratio analysis Analysis of published financial statements PART 7 ACCOUNTABILITY Corporate governance Ethical behaviour and implications for accountants Integrated reporting: sustainability, environmental and social Index Full contents: PART 1 INTRODUCTION TO ACCOUNTING ON A CASH FLOW AND ACCRUAL ACCOUNTING BASIS Accounting and reporting on a cash flow basis 1.1 Introduction 1.2 Shareholders 1.3 What skills does an accountant require in respect of external reports? 1.4 Managers 1.5 What skills does an accountant require in respect of internal reports? 1.6 Procedural steps when reporting to internal users 1.7 Agency costs 1.8 Illustration of periodic financial statements prepared under the cash flow concept to disclose realised operating cash flows 1.9 Illustration of preparation of statement of financial position 1.10 Treatment of non-current assets in the cash flow model 1.11 What are the characteristics of these data that make them reliable? 1.12 Reports to external users 1.13 Micro businesses Summary Review questions Exercises Notes Accounting and reporting on an accrual accounting basis 2.1 Introduction 2.2 Historical cost convention 2.3 Accrual basis of accounting 2.4 Mechanics of accrual accounting – adjusting cash receipts and payments 2.5 Reformatting the statement of financial position 2.6 Accounting for the sacrifice of non-current assets 2.7 Published statement of cash flows Summary Review questions Exercises Notes PART 2 PREPARATION OF INTERNAL AND PUBLISHED FINANCIAL STATEMENTS Preparation of financial statements of profit or loss and other comprehensive income, changes in equity and financial position 3.1 Introduction 3.2 Preparing an internal statement of profit or loss from a trial balance 3.3 Reorganising the income and expenses into one of the formats required for publication 3.4 Format 1: classification of operating expenses and other income by function 3.5 Format 2: classification of operating expenses according to their nature 3.6 Other information to be presented in the profit or loss section 3.7 Other comprehensive income 3.8 Presentation of non-recurring items and their effect on operating income 3.9 How decision-useful is the statement of profit or loss and other comprehensive income? 3.10 Statement of changes in equity 3.11 The statement of financial position 3.12 The explanatory notes that are part of the financial statements 3.13 Has prescribing the formats meant that identical transactions are reported identically? 3.14 Fair presentation 3.15 What does an investor need in addition to the primary financial statements to make decisions? 3.16 IAS 1 ED General Presentation and Disclosures Summary Review questions Exercises Notes Annual report: additional financial disclosures 4.1 Introduction 4.2 IAS 10 Events after the Reporting Period 4.3 IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 4.4 What do segment reports provide? 4.5 IFRS 8 Operating Segments 80 4.6 Benefits and continuing concerns following the issue of IFRS 8 4.7 Discontinued operations — IFRS 5 Non-current Assets Held for Sale and Discontinued Operations 4.8 Held for sale — IFRS 5 Non-current Assets Held for Sale and Discontinued Operations 4.9 IAS 24 Related Party Disclosures Summary Review questions Exercises Notes Statements of cash flows 5.1 Introduction 5.2 Development of statements of cash flows 5.3 Applying IAS 7 (revised) Statement of Cash Flows 5.4 Step approach to preparation of a statement of cash flows — indirect method 5.5 Additional notes required by IAS 7 5.6 Analysing statements of cash flows 5.7 Approach to answering questions with time constraints 5.8 Preparing a statement of cash flows when no statement of income is available 5.9 Critique of cash flow accounting Summary Review questions Exercises Notes Accounting for price-level changes 6.1 Introduction 6.2 Review of the problems of historical cost accounting (HCA) 6.3 Inflation accounting 6.4 The concepts in principle 6.5 The four models illustrated for a company with cash purchases and sales 6.6 Critique of each model 6.7 Operating capital maintenance – a comprehensive example 6.8 Critique of CCA statements 6.9 Measurement bases 6.10 The IASB position where there is hyperinflation 6.11 Future developments Summary Review questions Exercises Bibliography Notes PART 3 REGULATORY FRAMEWORK – AN ATTEMPT TO ACHIEVE UNIFORMITY Financial reporting — evolution of global standards 7.1 Introduction 7.2 Why do we need financial reporting standards? 7.3 Why do we need standards to be mandatory? 7.4 Arguments in support of standards 7.5 Arguments against standards 7.6 The Financial Reporting Council (FRC) as a regulatory body 7.7 The International Accounting Standards Board 7.8 Standard setting and enforcement in the European Union (EU) 7.9 Standard setting and enforcement in the US 7.10 Advantages and disadvantages of global standards for publicly accountable entities 7.11 How do reporting requirements differ for non-publicly accountable entities? 7.12 IFRS for SMEs 7.13 Why have there been differences in financial reporting? 7.14 Move towards a conceptual framework Summary Review questions Exercises Notes Concepts — evolution of an international conceptual framework 8.1 Introduction 8.2 Different countries meant different financial statements 8.3 Historical overview of the evolution of financial accounting theory 8.4 Developing the Framework for the Preparation and Presentation of Financial Statements 8.5 Conceptual Framework for Financial Reporting 2018 8.6 Current developments – concept of materiality Summary and evaluation of position to date Review questions Exercises Revenue recognition 9.1 Introduction 9.2 The issues involved in developing the new standard 9.3 IFRS 15 Revenue from Contracts with Customers 9.4 Five-step process to identify the amount and timing of revenue 9.5 Disclosures Summary Review questions Exercises Notes PART 4 STATEMENT OF FINANCIAL POSITION — EQUITY, LIABILITY AND ASSET MEASUREMENT AND DISCLOSURE Share capital, distributable profits and reduction of capital 10.1 Introduction 10.2 Common themes 10.3 Total owners' equity: an overview 10.4 Total shareholders' funds: more detailed explanation 10.5 Accounting entries on issue of shares 10.6 Creditor protection: capital maintenance concept 10.7 Creditor protection: why capital maintenance rules are necessary 10.8 Creditor protection: how to quantify the amounts available to meet creditors’ claims 10.9 Issued share capital: minimum share capital 10.10 Distributable profits: general considerations 10.11 Distributable profits: how to arrive at the amount using relevant accounts 10.12 When may capital be reduced? 10.13 Writing off part of capital which has already been lost and is not represented by assets 10.14 Repayment of part of paid-in capital to shareholders or cancellation of unpaid share capital 10.15 Purchase of own shares Summary Review questions Exercises Notes Liabilities 11.1 Introduction 11.2 Provisions — a decision tree approach to their impact on the statement of financial position 11.3 Treatment of provisions 11.4 The general principles that IAS 37 applies to the recognition of a provision 11.5 Management approach to measuring the amount of a provision 11.6 Application of criteria illustrated 11.7 Provisions for specific purposes 11.8 Contingent liabilities 11.9 Contingent assets 11.10 Criticisms of IAS 37 11.11 Future progress Summary Review questions Exercises Notes Financial instruments 12.1 Introduction 12.2 Financial instruments – the IASB’s problem child 12.3 IAS 32 Financial Instruments: Disclosure and Presentation 12.4 IFRS 9 Financial Instruments 12.5 IFRS 7 Financial Instruments: Disclosure Summary Review questions Exercises Notes Employee benefits 13.1 Introduction 13.2 Greater employee interest in pensions 13.3 Financial reporting implications 13.4 Types of scheme 13.5 Accounting for defined contribution pension schemes 13.6 Accounting for defined benefit pension schemes 13.7 IAS 19 Employee Benefits 13.8 The asset or liability for pension and other post-retirement costs 13.9 Changes in the pension asset or liability position 13.10 Comprehensive illustration 13.11 Multi-employer plans 13.12 Disclosures 13.13 Other long-service benefits 13.14 Short-term benefits 13.15 Termination benefits 13.16 IFRS 2 Share-based Payment 13.17 Scope of IFRS 2 13.18 Recognition and measurement 13.19 Equity-settled share-based payments 13.20 Cash-settled share-based payments 13.21 Transactions which may be settled in cash or shares 13.22 IAS 26 Accounting and Reporting by Retirement Benefit Plans Summary Review questions Exercises Notes Taxation in company accounts 14.1 Introduction 14.2 Corporation tax 14.3 Corporation tax systems — the theoretical background 14.4 Dividends pre- and post-2016 14.5 Corporation tax systems – avoidance and evasion 14.6 IAS 12 — accounting for current taxation 14.7 Deferred tax 14.8 A critique of deferred taxation 14.9 Value added tax (VAT) Summary Review questions Exercises Notes Property, plant and equipment (PPE) 15.1 Introduction 15.2 PPE — concepts and the relevant IASs and IFRSs 15.3 What is PPE? 15.4 How is the cost of PPE determined? 15.5 What is depreciation? 15.6 What are the constituents in the depreciation formula? 15.7 Calculation of depreciation 15.8 Measurement subsequent to initial recognition 15.9 IAS 36 Impairment of Assets 15.10 IFRS 5 Non-current Assets Held for Sale and Discontinued Operations 15.11 Disclosure requirements 15.12 Government grants towards the cost of PPE 15.13 Investment properties 15.14 Effect of accounting policy for PPE on the interpretation of the financial statements Summary Review questions Exercises Notes Leasing 16.1 Introduction 16.2 Need for an accounting standard on leasing 16.3 Terms and conditions of a lease 16.4 Leases in the financial statements of lessees under IFRS 16 16.5 Leases in the financial statements of lessors 16.6 Sale and leaseback transactions Summary Review questions Exercises Notes Intangible assets 17.1 Introduction 17.2 Intangible assets defined 17.3 Accounting treatment for research and development 17.4 Why is research expenditure not capitalised? 17.5 Capitalising development costs 17.6 Disclosure of R&D 17.7 IFRS for SMEs' treatment of intangible assets 17.8 Internally generated and purchased goodwill 17.9 The accounting treatment of goodwill 17.10 Critical comment on the various methods that have been used to account for goodwill 17.11 Negative goodwill/badwill 17.12 Brands 17.13 Accounting for acquired brands 17.14 Intellectual capital disclosures (ICDs) in the annual report 17.15 Review of implementation of IFRS 3 17.16 Review of the implementation of identified intangibles under IAS 38 Summary Review questions Exercises Notes Inventories 18.1 Introduction 18.2 Inventory defined 18.3 The impact of inventory valuation on profits 18.4 IAS 2 Inventories 18.5 Inventory valuation 18.6 Work in progress 18.7 Inventory control 18.8 Creative accounting 18.9 Audit of the year-end physical inventory count 18.10 Published accounts 18.11 Agricultural activity Summary Review questions Exercises Notes Construction contracts 19.1 Introduction 19.2 Construction contracts 19.3 IFRS 15 treatment of construction contracts 19.4 Accounting for a contract – an example 19.5 Illustration — loss-making contract using the step approach 19.6 Public & private partnerships 19.7 Requirements of IFRIC 12 Service Concession Arrangements 19.8 Worked example of service concession accounting Summary Review questions Exercises Notes PART 5 CONSOLIDATED ACCOUNTS Accounting for groups at the date of acquisition 20.1 Introduction 20.2 Preparing consolidated accounts for a wholly owned subsidiary 20.3 IFRS 10 Consolidated Financial Statements 20.4 Fair values 20.5 Illustration where there is a wholly owned subsidiary 20.6 Preparing consolidated accounts when there is a partly owned subsidiary 20.7 The treatment of differences between a subsidiary's fair value and book value 20.8 The parent issues shares to acquire shares in a subsidiary 20.9 IFRS 3 Business Combinations treatment of goodwill at the date of acquisition 20.10 When may a parent company not be required to prepare consolidated accounts? 20.11 When may a parent company exclude or not exclude a subsidiary from a consolidation? 20.12 IFRS 13 Fair Value Measurement 20.13 What advantages are there for stakeholders from requiring groups to prepare consolidated accounts? Summary Review questions Exercises Notes Preparation of consolidated statements of financial position after the date of acquisition 21.1 Introduction 21.2 Uniform accounting policies and reporting dates 21.3 Pre- and post-acquisition profits/losses 21.4 The Bend Group — assuming there have been no inter-group transactions 21.5 Inter-company transactions 21.6 The Prose Group — assuming there have been inter-group transactions Summary Review questions Exercises Notes Preparation of consolidated statements of profit or loss, changes in equity and cash flows 22.1 Introduction 22.2 Eliminate inter-company transactions 22.3 Preparation of a consolidated statement of profit or loss – the Ante Group 22.4 The statement of changes in equity (SOCE) 22.5 Other consolidation adjustments 22.6 A subsidiary acquired part-way through the year 22.7 Published format statement of profit or loss 22.8 Consolidated statements of cash flows Summary Review questions Exercises Notes Accounting for associates and joint arrangements 23.1 Introduction 23.2 Definitions of associates and of significant influence 23.3 The treatment of associated companies in the financial statements of the investor 23.4 The Brill Group — group accounts with a profit-making associate 23.5 The Brill Group — group accounts with a loss-making associate 23.6 The acquisition of an associate part-way through the year 23.7 Joint arrangements 23.8 Disclosure in the financial statements Summary Review questions Exercises Notes Introduction to accounting for exchange differences 24.1 Introduction 24.2 How to record foreign currency transactions in a company's own books 24.3 Boil plc — a more detailed illustration 24.4 IAS 21 Concept of Functional and Presentation Currencies 24.5 Translating the functional currency into the presentation currency 24.6 Preparation of consolidated accounts 24.7 How to reduce the risk of translation differences 24.8 Critique of the use of presentational currency 24.9 IAS 29 Financial Reporting in Hyperinflationary Economies Summary Review questions Exercises Notes PART 6 INTERPRETATION Earnings per share 25.1 Introduction 25.2 Why is the earnings per share figure important? 25.3 How is the EPS figure calculated? 25.4 The use to shareholders of the EPS 25.5 Illustration of the basic EPS calculation 25.6 Adjusting the number of shares used in the basic EPS calculation 25.7 Rights issues 25.8 Adjusting the earnings and number of shares used in the diluted EPS calculation 25.9 Procedure where there are several potential dilutions 25.10 Exercise of conversion rights during the financial year 25.11 Disclosure requirements of IAS 33 25.12 Enhanced disclosures Summary Review questions Exercises Notes Review of financial ratio analysis 26.1 Introduction 26.2 Overview of techniques for the analysis of financial data 26.3 Ratio analysis — a case study 26.4 Introductory review 26.5 Financial statement analysis, part 1 — financial performance 26.6 Financial statement analysis, part 2 — liquidity 26.7 Financial statement analysis, part 3 — financing 26.8 Peer comparison 26.9 Report based on the analysis 26.10 Caution when using ratios for prediction Summary Review questions Exercises Analysis of published financial statements 27.1 Introduction 27.2 Alternative performance measures 27.3 EBITDA 27.4 EBITDAR 27.5 EBITDARM 27.6 Regulators' reaction to use of an alternative management performance measure (APM) 27.7 Use of ratios as thresholds 27.8 Predicting corporate failure 27.9 Investor-specific ratios 27.10 Published financial statements — their limitations for interpretation purposes 27.11 Improvement of information for shareholders 27.12 Valuing shares of an unquoted company — quantitative process 27.13 Valuing shares of an unquoted company — qualitative process 27.14 Possible effects of a pandemic (Covid-19) 27.15 Possible effects of Brexit Summary Review questions Exercises Notes PART 7 ACCOUNTABILITY Corporate governance 28.1 Introduction 28.2 A systems perspective 28.3 Different jurisdictions have different governance priorities 28.4 The effect on capital markets of good corporate governance 28.5 Risk management 28.6 The role of internal control, internal audit and audit committees in corporate governance 28.7 External audits in corporate governance 28.8 Detection of fraud 28.9 The Regulator’s approach to promoting improved disclosures 28.10 International perspective (IFIAR) 28.11 The future of audit 28.12 Executive remuneration in the UK 28.13 Corporate governance — ways to make directors accountable Summary Review questions Exercises Notes Ethical behaviour and implications for accountants 29.1 Introduction 29.2 The meaning of ethical behaviour 29.3 The accounting standard-setting process and ethics 29.4 The International Code of Ethics for Professional Accountants 2018 29.5 Implications of ethical values for the principles — versus rules-based approaches to accounting standards 29.6 Ethics in the accountant's work environment — a research report 29.7 Implications of unethical behaviour for stakeholders using the financial reports 29.8 The increasing role of whistle-blowing 29.9 Legal requirement to report — national and international regulation 29.10 Why should students learn ethics? Summary Review questions Exercises Notes Integrated reporting: sustainability, environmental and social 30.1 Introduction 30.2 Environmental and social disasters, the adverse consequences that can follow and the lessons to be learnt 30.3 Management accountability for environmental and social responsibility 30.4 Integrated reporting concepts 30.5 The historical context of the evolution of integrated reporting including the drivers of this movement 30.6 The seriousness of current threats: sustainability — climate change and pollution 30.7 The efforts on which integrated reporting builds 30.8 The contribution of accountants 30.9 Integrated reporting — its impact on the future development of financial reporting and accounting 30.10 Reporting to stakeholders to account for stewardship 30.11 Reporting to stakeholders to assist decision making 30.12 Real-time reporting 30.13 Other means of communication with stakeholders 30.14 The way forward for improved sustainability disclosure Summary Review questions Exercises Notes Publisher's acknowledgements Index

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Book SynopsisJamie Elliott is a director who has worked for Deloitte, Huawei, Panasonic, and Mott MacDonald. Prior to his corporate career, he lectured in undergraduate degree programmes and was Assistant Professor in MBA and Executive Education programmes at the London Business School. Barry Elliott has extensive teaching experience in undergraduate, postgraduate, and professional programmes in England, New Zealand, China, Hong Kong, and Singapore. He has worked for Coopers & Lybrand as a Training Manager in London and National Training Manager in Australia. He has extensive experience as an external examiner in higher education at all levels of professional education.

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Book Synopsis Understanding accounts just got easierThere has never been a time when managers have been more exposed to financial statements than they are today. Even if you are a non-financial manager, you will often be involved in budgeting and regular financial reporting. You are expected to understand the accounts put in front of you and to contribute to the analysis and interpretation of the figures. It is important that you understand the principles of analysing and interpreting accounts. You will then be able to deal with questionsabout the performance of your business and your customers'' businesses. Understanding and Interpreting Accounts In A Week is written for managers who need to answer these questions. By setting aside a little time each day for a week, you will greatly increase your understanding of accounts and how to interpret them.- Sunday: The right approach- Monday: An introduction to accounts- Tuesday: The profit and loss account orTable of Contents : Sunday: The Right Approach : Monday: Introduction to published accounts : Tuesday: Income statement : Wednesday: Statement of Financial Position : Thursday: The remainder of a set of accounts : Friday: Cash and investment ratios : Saturday: In-depth work with public accounts

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Book SynopsisThis book examines Social Impact Bonds as a means to finance social services, and how mainstream and heterodox economic theory can help understand their existence and emergence.Table of ContentsPreface Acknowledgements List of Tables List of Figures INTRODUCTION Part A: The Characteristics and Emergence of the Social Impact Bond Model Chapter 1: The Structure of Social Impact Bonds Introduction I. Defining SIBs II. Public versus Private Dimensions in Social Service Provision III. Defining Features of SIBs IV. Conclusion Chapter 2: The Short History of SIBs and the Development of the Enabling Field Introduction I. The Scale of Impact Bonds by Sector II. The Distribution of SIBs by Country III. SIBs Delivering results IV. Investor returns V. Conclusion Part B: Efficiency-Based Explanations of SIB Emergence Chapter 3: The Rationale of SIBs Introduction I. Claim 1: SIBs Allow More Social Programs to be Delivered II. Claim 2: Better programs: Higher quality and greater effectiveness III. Claim 3: Better system: IV. Conclusion Chapter 4: Social Impact Bonds as Public Private Partnerships Introduction I. Review of the Public Private Partnership (PPP) Infrastructure Delivery Model II. SIBs as Public Private Partnerships III. Economic Theory and Modeling of PPPs and SIBs IV. A Comparative Framework for Evaluating SIBs versus conventional procurement V. Conclusion Part C: The Political Economy of SIBS Chapter 5: Private Institutional Participants in SIBs Introduction I. The Institutional Participants in SIBs II. Service Providers: The Significance of the Non-Profit Form III. Altruism, Intrinsic Motivation and Reciprocity IV. Implications for SIB Implementation and Design V. Conclusion Chapter 6: Government Introduction I. Motivations of Government II. Relative Cost Critique III. Theories of the State IV. Implications for SIB Design and Regulation V. Conclusion Chapter 7: The Political Economic Context of SIB Emergence Introduction I. Defining neoliberalism II. Financialization III. Comparative Analysis of SIB Leaders and Followers IV. Side note: The UK Versus the US V. Conclusion Chapter 8: Development Impact Bonds Introduction I. Expanding Enabling Fields II. Examples of DIBs III. Other Observations on Existing DIBs IV. A Closer Look at the Claimed Rationale of Results-Based Aid and its Challenges V. Are DIBs the Future for Foreign Aid? VI. DIBs and the Need for Foreign Aid Chapter 9: Policy Recommendations, Reforms and Alternatives Introduction I. Recap of Policy Recommendations II. The Micro Alternative: Conventional delivery through (re)building state capacity III. The Macro Alternative: Universalism vs. Individualized Approaches IV. Conclusion References Appendix A Review of Meta-analytical Studies on Common SIB Policy Sectors Appendix B: Sector Proportion of SIBs, by Country Appendix C: Reported and Estimated SIB Maximum and Expected Investor Returns Appendix D: Description of Value for Money Analysis in Applied Public Finance Appendix E: Social Investment and Entrepreneurship Concepts Appendix F: Development Impact Bonds

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Book SynopsisThe 2008 financial crisis and its subsequent economic impacts generated a challenge for national and regional governments across the world. From this economic ruin, the Social Impact Bond (SIB) was born as an alternative mechanism for government procurement and delivery of social public services. Social Service, Private Gain examines the evolution of SIBs, how they work, their theoretical motivation, and their global proliferation. The book critically assesses the potential of SIBs to constructively contribute to solving the multifaceted social challenges emerging from a context of entrenched and growing inequality. Claiming to bring incremental resources to the rescue, SIBs have taken up disproportionate space with new legislation, policy, subsidies, institutional supports, lobbyists, and intermediaries facilitating SIBs and thriving on their associated transaction costs. Drawing on mainstream and heterodox economic theory, practical case studies, and empirical data,Table of ContentsPreface Acknowledgements List of Tables List of Figures INTRODUCTION Part A: The Characteristics and Emergence of the Social Impact Bond Model Chapter 1: The Structure of Social Impact Bonds Introduction I. Defining SIBs II. Public versus Private Dimensions in Social Service Provision III. Defining Features of SIBs IV. Conclusion Chapter 2: The Short History of SIBs and the Development of the Enabling Field Introduction I. The Scale of Impact Bonds by Sector II. The Distribution of SIBs by Country III. SIBs Delivering results IV. Investor returns V. Conclusion Part B: Efficiency-Based Explanations of SIB Emergence Chapter 3: The Rationale of SIBs Introduction I. Claim 1: SIBs Allow More Social Programs to be Delivered II. Claim 2: Better programs: Higher quality and greater effectiveness III. Claim 3: Better system: IV. Conclusion Chapter 4: Social Impact Bonds as Public Private Partnerships Introduction I. Review of the Public Private Partnership (PPP) Infrastructure Delivery Model II. SIBs as Public Private Partnerships III. Economic Theory and Modeling of PPPs and SIBs IV. A Comparative Framework for Evaluating SIBs versus conventional procurement V. Conclusion Part C: The Political Economy of SIBS Chapter 5: Private Institutional Participants in SIBs Introduction I. The Institutional Participants in SIBs II. Service Providers: The Significance of the Non-Profit Form III. Altruism, Intrinsic Motivation and Reciprocity IV. Implications for SIB Implementation and Design V. Conclusion Chapter 6: Government Introduction I. Motivations of Government II. Relative Cost Critique III. Theories of the State IV. Implications for SIB Design and Regulation V. Conclusion Chapter 7: The Political Economic Context of SIB Emergence Introduction I. Defining neoliberalism II. Financialization III. Comparative Analysis of SIB Leaders and Followers IV. Side note: The UK Versus the US V. Conclusion Chapter 8: Development Impact Bonds Introduction I. Expanding Enabling Fields II. Examples of DIBs III. Other Observations on Existing DIBs IV. A Closer Look at the Claimed Rationale of Results-Based Aid and its Challenges V. Are DIBs the Future for Foreign Aid? VI. DIBs and the Need for Foreign Aid Chapter 9: Policy Recommendations, Reforms and Alternatives Introduction I. Recap of Policy Recommendations II. The Micro Alternative: Conventional delivery through (re)building state capacity III. The Macro Alternative: Universalism vs. Individualized Approaches IV. Conclusion References Appendix A Review of Meta-analytical Studies on Common SIB Policy Sectors Appendix B: Sector Proportion of SIBs, by Country Appendix C: Reported and Estimated SIB Maximum and Expected Investor Returns Appendix D: Description of Value for Money Analysis in Applied Public Finance Appendix E: Social Investment and Entrepreneurship Concepts Appendix F: Development Impact Bonds

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Book SynopsisThis book explains how and why corporations use the internet for reporting to their stakeholders. While many such books are limited to financial reporting, this book extends to business reporting, environmental, social and governance (ESG) reporting and integrated reporting. A key part of it is the impact of the major drivers entering into modern reporting, including the movement to data driven decision making, impact of big data, advanced analytics, and the use of electronic representations of data with tools such as XBRL. It also explores the various vehicles for using the internet, including social media and blogs as well as corporate websites and the websites of regulators. And it delves into the impact of portable devices, like smart phones and tablets. Corporate reporting on the internet is changing fast because of changes in technology and in stakeholder expectations. For example, stakeholders now expect a lot more from companies than they did a few years ago in disclosing the effects of the company on the environment and the effects of the environment on the company. The book describes the evolution of corporate reporting in recent years, the state of the art now and provides a roadmap for companies to follow in the near future - a roadmap they should be starting on now. So this book is of interest to executives in charge of the reporting function for their companies, to students of accounting and management who aspire to corporate reporting responsibilities and to serious investors and others with a strong interest in corporate reporting and the direction in which it is headed. Most importantly, the book lays out a strong case for integrated reporting, what it means, attempts at integrated reporting so far, and the future of integrated websites. It also shows how reporting on the internet is ideally suited to fostering the growth of integrated reporting.

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Book SynopsisThe issue of sustainability has become increasingly important at a global level, prompting governments, international organizations, and private and public organizations to seek ways to contribute to sustainable development. However, the lack of accountability and transparency in organizations has made it difficult to identify, measure, and disclose their sustainable practices and impacts. Additionally, there is a lack of consensus on the determinants and impacts of the extent and quality of non-financial information reporting. Enhancing Sustainability Through Non-Financial Reporting is a book edited by Albertina Monteiro, Ana Pinto Borges, and Elvira Vieira that offers a comprehensive analysis of the relationship between sustainability/ Environmental, Social and Governance (ESG) practices and reporting, and the accounting, finance, and management fields. The book provides a high-quality vehicle for the dissemination of new knowledge and tendencies, using both qualitative and quantitative methods. It welcomes and encourages articles from both academics and practitioners, with empirical and theoretical articles accepted to reach various audiences and a diversity of topics. The book aims to better understand the contributions of organizations to sustainable development, the level, determinates, and impacts of non-financial information reporting, the impact of sustainability reporting standards on the extent and quality of non-financial reporting, and the role and challenges of accounting, finance, management, and auditing. It is an essential resource for academics and practitioners in accounting, finance, and management, as well as other interested groups and individuals seeking to enhance sustainability through non-financial reporting.

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Book SynopsisThis research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting. Its review of the accounting judgment and decision making research published in the five top-tier accounting journals over the last forty years shows that there is a limited number of studies that have examined the importance of consistency in interpreting and applying a single set of accounting standards. Furthermore, the monographs and reviews on audit judgment and decision making research published over the years have strengthened this strand of research in auditing by providing insights and suggesting avenues for future research. However, limited comprehensive reviews have been published so far for the research undertaken in the domain of accounting judgment. This research monograph provides empirical evidence on the factors that act as constraints on achieving the objectives of convergence of financial reporting.Table of ContentsSynopsis. About the Authors. Acknowledgments. Chapter 1 Introduction. Chapter 2 International Convergence of Financial Reporting Standards: Evidence from the South Pacific Region. Chapter 3 A Critique of the Influence of Globalization and Convergence of Accounting Standards in Fiji. Chapter 4 Accounting Judgment and Decision-Making Research: Evaluation of Publications in Top-Tier Accounting Journals (1970–2010). Chapter 5 Judgments Based on Interpretation of “New” and “Complex” International Financial Reporting Standards (IFRS) within a Country: Evidence from Fiji. Chapter 6 Cultural and Noncultural Factors Affecting Judgments of Professional Accountants: A Comparative Study of Australia and Fiji. Chapter 7 Implications and Directions for Future Research. References. Achieving Global Convergence of Financial Reporting Standards: Implications from the South Pacific Region. Studies in managerial and financial accounting. Studies in managerial and financial accounting. Copyright page.

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Book SynopsisThis edited volume will highlight recent research in derivatives modelling and markets in a post-crisis world across a number of dimensions or themes. The book addresses the following main areas: derivatives models and pricing, model application and performance backtesting, new products and market features. Particular themes encompass: - continuous and discrete time modeling, - statistical arbitrage models, - arbitrage-free pricing, risk-neutral implied densities, - equilibrium pricing approaches (including e.g. co-integration), - applications of methods in computational statistics including simulation, - computationally intense techniques for pricing, estimation and backtesting, - complex derivative products, - credit and counterparty risk, - innovative market and product structures.Table of ContentsList of Contributors. Derivatives Securities Pricing and Modelling. On the Role of Option Applications in Economic Instability. Derivatives, Commodities, and Social Costs: Exploring Correlation in Economic Uncertainty. Contingent Capital Securities: Problems and Solutions. High Dimensionality in Finance: A Graph-Theory Analysis. Recovering Stochastic Processes from Option Prices. The Pricing Kernel Puzzle: Reconciling Index Option Data and Economic Theory. Risk-Neutral Densities and Catastrophe Events. Non-Gaussian Price Dynamics and Implications for Option Pricing. On the Empirical Behavior of Stochastic Volatility Models: Do Skewness and Kurtosis Matter?. Re-Evaluating Hedging Performance for Asymmetry: The Case of Crude Oil. On the Binomial-Tree Approach to Convertible Bonds Pricing and Risk Assessment. A New Paradigm for Inflation Derivatives Modeling. An Option-Pricing Framework for the Valuation of Fund Management Compensation. An Equity-Based Credit Risk Model. Business Cycles and the Impact of Macroeconomic Surprises on Interest Rate Swap Spreads: Australian Evidence. The Evolution of the Use of Derivatives in Slovenian Non-Financial Companies. Subject Index. Derivative Securities Pricing and Modelling. Contemporary Studies in Economic and Financial Analysis. Contemporary Studies in Economic and Financial Analysis. Copyright page.

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Book SynopsisBusiness sustainability has advanced from greenwashing and branding to being a business imperative. Stakeholders, including shareholders, demand, regulators require, and companies now need to report their sustainability performance. No longer is this a choice for businesses. A decade ago, fewer than 50 companies released sustainability reports, and now more 8,000 global public companies disclose sustainability performance information on some or all five economic, governance, social, ethical, and environmental (EGSEE) dimensions of sustainability performance, and this trend is expected to continue. Indeed, more than 6,000 European public companies would be required to disclose their environmental, social, governance and diversity information for their 2017 reporting year. However, the proper determination of sustainability performance, accurate and reliable reporting and independent assurance of sustainability information remain major challenges for organizations of all types and sizes.Through reading this book, you will:Identify sustainability strategies to create innovation in new products, services, energy-efficiency, environmental facilities and green initiatives.Understand the role and responsibilities of all participants in the corporate reporting process, including directors, officers, internal auditors, external auditors, legal counsel, and investors.See ways to improve public trust, investor confidence, business reputation, employee satisfaction, corporate culture, social responsibility and environmental performance.Learn all five economic, governance, social, ethical and environmental (EGSEE) dimensions of sustainability performance separately and their integrated and interactive effects on achieving the goal of creating sustainable value for all stakeholders, including shareholders.Learn how to adopt best practices in sustainability development and performance, and deliver effective integrated sustainability reporting and assurance.Table of ContentsPreface1. Introduction to business sustainability performance, reporting, and assurance 2. Relevance and importance of business sustainability for corporations3. Business sustainability drivers4. Financial dimensions of sustainability performance and reporting5. Nonfinancial dimensions of sustainability performance and reporting6. Sustainability performance reporting and assurance7. Future of sustainability performance, reporting, and assurance8. Sustainability performance, reporting, and assurance in actionAbout the author

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Book SynopsisFinancial reporting is a strategic means of communication: management has an opportunity to interpret, and the power to deliver, what is materially important to the organization’s stakeholders. Understanding materiality means steering the company in the right direction, and many internal management battles regarding what and how to disclose in external financial reporting run on the verge of materiality. This book offers an integrated perspective of materiality from the angles of accounting (IFRS, US GAAP and SEC Rules and Regulations), auditing, internal control over financial reporting, management commentary, financial analysis, management control, forensic analysis, sustainability reporting, corporate responsibility, assurance standards, integrated reporting, and limited legal considerations. In Materiality in Financial Reporting: An Integrative Perspective, the author adopts a practical, operational approach to show how strategy, processes, and communication can be used to devise a consistent corporate governance system of materiality.Trade ReviewMost of the internal management battles for what financial information to filter through the internal reporting layers and what to disclose and how in the external financial statements run on the verge of what is and is not material, says Bellandi. Often the question of materiality is in fact a cover for some other reason, he says, and forensic analysts are aware than when a company says something is not material, this alone is a good reason to investigate what this statement is trying to conceal. His topics include conceptual bases of materiality, actors and models of materiality, the materiality determination process, and accounting materiality in the real world. -- Annotation ©2018 * (protoview.com) *Table of ContentsPREFACE PART I: INTRODUCTION AND BACKGROUND PART II: CONCEPTUAL BASES OF MATERIALITY PART III: ACTORS AND MODELS OF MATERIALITY PART IV: APPLICATION OF MATERIALITY PART V: ASSESSING MATERIALITY PART VI: THE MATERIALITY DETERMINATION PROCESS PART VII: WHERE STANDARDS SPECIFICALLY REQUIRE MATERIALITY JUDGMENTS PART VIII: ACCOUNTING MATERIALITY IN THE REAL WORLD

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Book SynopsisAdvances in Environmental Accounting & Management aims to advance knowledge of the governance and management of corporate environmental impacts and the accounting for these, including issues related to measurement, valuation, and disclosure. It also aims to increase the awareness of management, accounting practitioners, investors and other stakeholders of the financial and social consequences of corporate environmental impacts, encouraging greater environmental accountability and responsibility. The first chapter in this volume (Dr Yousuf Kamal) is set in the context of the Bangladeshi garment industry, while the second chapter (Delphine Gibassier) explores the practice of water accounting. The remainder of this volume presents three chapters from the 3rd French Conference on Social and Environmental Accounting Research, guest edited by Sophie Giordano-Spring, Jonathan Maurice and Charles H. Cho. These chapters consider sustainability in Canadian CPA teaching programmes (Emilio Boulianne and S. Leanne Keddie); mandatory environmental reporting in France (Juliette Senn); and CSR reporting practices in Brazil and South Korea (Hyemi Shin and Adrián Zicari).Trade ReviewBusiness researchers from Europe and Canada offer five chapters on sustainability accounting. They discuss perceptions of social audit in the garment industry in Bangladesh, the practice of corporate water accounting, the place of sustainability in Canadian CPA (Chartered Professional Accountant) teaching programs, the impact of mandatory environmental reporting in France, and developments in corporate social responsibility reporting practices in telecommunications companies in Brazil and South Korea. The final three chapters are from the 3rd French Conference on Social and Environmental Accounting Research, held in June 2015 in Cergy, France. -- Annotation ©2018 * (protoview.com) *Table of ContentsEditors' Introduction; Ataur Belal and Stuart Cooper Stakeholders' Perceptions of Social Audit in Bangladesh; Yousuf Kamal Corporate Water Accounting, Where Do We Stand? The International Water Accounting Field and French Organizations; Delphine Gibassier Special Section: CSEAR, France 2015 Guest Editors' Introduction to the Special Section; Sophie Giordano-Spring, Jonathan Maurice and Charles H. Cho Where is Sustainability within the Canadian CPA Education Program?; Emilio Boulianne and S. Leanne Keddie "Comply or Explain" If You Do Not Disclose Environmental Accounting Information: Does New French Regulation Work?; Juliette Senn Don't Judge a Book By Its Cover! Comparative Study of the Adaptation and Evolution of CSR Reporting by Telecommunication Companies in Brazil and South Korea; Hyemi Shin and Adrián Zicari

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Book SynopsisPerspectives on International Financial Reporting and Auditing in the Airline Industry draws on the framework of financial reporting in the global airline industry for the year 2018 and focuses on the airline financial reporting based on International Financial Reporting Standards (IFRSs) and audit of airline financial reporting based on International Standards on Auditing (ISAs). Contributing to the accounting policy choice debate from a sector-specific perspective, this book considers the existing policy choices under IFRSs, in order to observe the diversity, and comparability in the airline industry. It analyses the cumulative of effect of the adoption of IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases in the airline industry, including the case of Air France - KLM and it takes a picture of segment reporting in terms of diversity and comparability in the airline industry. Finally, it analyzes audit reports of airlines reporting under IFRS in terms of International Standards on Auditing, in terms of diversity of audit practices. This book provides valuable insights into perspectives on international financial reporting and auditing in the airline industry and is essential reading for both researchers and professionals.Table of ContentsPart I International Financial Reporting Chapter 1. Overview of Financial Reporting in the Airline Industry Chapter 2. Some Observations on IFRS Accounting Policy Choices: The Case of the Airline Industry Chapter 3. Some Observations on IFRS 15 and IFRS 16 in the Airline Industry: The Case of Air France – KLM Chapter 4. Some Observations on IFRS 8 Operating Segments: The Case of the Airline Industry Part II International Auditing Chapter 5. Some Observations on International Auditing: The Case of the Airline Industry

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Book SynopsisIntegrating Performance Management and Enterprise Risk Management Systems offers a novel understanding of the multifaceted shades that surround the long called-for and yet not realised integration between performance management and enterprise risk management systems. Spanò and Zagaria depart from the idea that the main limitations so far refer to the jeopardization of extant contributions, the lack of a fully holistic perspective of analysis and interpretation, and the need to closely consider potential opportunities and threats in the current VUCA (volatile, uncertain, complex, and ambiguous) world – issues concerning ethical concerns and accountability pressures, power dynamics, social and sustainability implications, and technological impacts. Their study supports a substantive integration of performance management and enterprise risk management systems encompassing the current theoretical debates and the multiple practical and policy interventions, highlighting overlaps and gaps, and fostering a more systematic approach towards the embeddedness of unified routines and behaviours. The authors suggest looking at performance management and enterprise risk management systems as logics rather than functions, as languages rather than tools, and devoting major attention to soft variables in addition to hard ones, towards a novel comprehension of timely dynamics paramount for academics, practitioners and policy makers.Table of ContentsIntroduction Chapter 1. Performance Management systems: Emerging Issues and Future Trends Chapter 2. Enterprise Risk Management systems: Emerging Issues and Future Trends Chapter 3. Integrating Performance Management and Enterprise Risk Management Systems Conclusions

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Book SynopsisThe vast majority of national authorities have made a public commitment supporting a single set of high-quality global accounting standards as of January 13, 2021 requiring or permitting the use of IFRS Standards for domestic, publicly accountable companies and institutions. This includes all member states of the European Union (EU) and the European Economic Area (EEA), in which IFRS Standards are mandatory for all companies whose securities trade in a regulated market. Despite this, there still remains a lack of research on International Financial Reporting Standards (IFRS) implementation and this inaugural volume of Contributions to International Accounting (CIA) aims to address this vital gap, focusing on providing relevant and timely information for local and international policymakers.Table of ContentsChapter 1. Introduction - International Financial Reporting Standards (IFRS): Where we are now? Chapter 2. Implementation of International Financial Reporting Standards (IFRS) in Developing Countries Chapter 3. The Cultural Impact of International Financial Reporting Standards (IFRS) Implementation Chapter 4. The Economic Impact of International Financial Reporting Standards (IFRS) Implementation Chapter 5. Disclosure, Transparency and International Financial Reporting Standards Chapter 6. Theory of International Financial Reporting Standards (IFRS) Implementation Chapter 7. Antecedents of IFRS Adoption in BRICS Nations: A Meta-synthesis

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