Description |
x, 230 pages : illustrations ; 25 cm |
Contents |
PART I: THE NOBLE ART OF COUNTING BEANS -- 1. STEWARDSHIP REPORTING: THE PHYSICAL DIMENSION -- 2. BUSINESS ACCOUNTING -- 3. PERFORMANCE REPORTING: THE VALUE DIMENSION PART II: THE MEASUREMENT OF INCOME AND VALUE INTRODUCTION -- 4. ECONOMIC INCOME AND ACCOUNTING PROFIT -- 5. THE INFLATION ACCOUNTING "DEBATE" -- 6. HISTORICAL COST OR CURRENT VALUE? PART III: A THEORETICAL BLIND ALLEY INTRODUCTION -- 7. VALUE CHANGE: A WRONG-TURNING? -- 8. ASSET VALUATION: A CONVENIENT DISTRACTION? -- 9. FAIR VALUE ACCOUNTING: A DEAD-END? -- PART IV. BACK TO BASICS INTRODUCTION -- 10. WHAT'S WRONG WITH MODERN INVESTMENT THEORY? -- 11. THE "THRESHOLD OF MEASUREMENT" -- 12. THE FATAL CONCEIT OF MANAGERIAL CAPITALISM -- 13. WHAT'S WRONG WITH MODERN ACCOUNTING STANDARDS? -- PART V. THE SEGREGATION OF FUNDS AND VALUE INTRODUCTION -- 14. FINANCIAL PERFORMANCE AND THE INVESTMENT RATE -- 15. A SEGREGATED SYSTEM OF FUNDS AND VALUE ACCOUNTING -- 16. MANAGEMENT AND THE AUDITOR: A QUESTION OF PUBLIC ACCOUNTABILITY -- PART VI. TRUTH IN ACCOUNTING INTRODUCTION -- 17. ELIMINATION OF THE EXPECTATION GAP -- 18. RECONSTRUCTION OF THE CONCEPTUAL FRAMEWORK -- 19. ACCOUNTING TRUTH AND ECONOMIC REALITY |
Summary |
"Are International Accounting Standards closing the 'expectation gap' between what accounts are believed to represent and what they actually do represent? Or widening it still further?" "This book argues that 'fair value accounting' is a good label for stifling criticism; but it is highly misleading." "Tracing a fundamental flaw in the conventional academic wisdom back to the nineteenth century, this book proposes an alternative conceptual framework. Effective corporate governance is achievable, not by expensive and counterproductive regulations like the US Sarbanes-Oxley Act, but by an enhanced accounting information system that exposes corporate management to the full rigour of market forces." |
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"This piece of analysis challenges the current direction of accounting standards and proposes an alternative. Its novel perspective on financial reporting provides a framework for debating some of the key contemporary issues facing the accountancy profession. Readable and accessible to a wide audience, it will be of interest to all accountants - students, academics, and practitioners."--BOOK JACKET |
Notes |
Formerly CIP. Uk |
Bibliography |
Includes bibliographical references (pages 221-224) and index |
Subject |
International Accounting Standards Board.
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Accounting -- Standards.
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Financial statements.
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LC no. |
2005011716 |
ISBN |
0415377803 (hbk.) |
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0415377811 (paperback) |
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