Accounting And The Truth Of Earnings Reports
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Accounting And The Truth Of Earnings Reports
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Author : Norman B. Macintosh
language : en
Publisher:
Release Date : 2008
Accounting And The Truth Of Earnings Reports written by Norman B. Macintosh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
This essay investigates the philosophical nature of accounting reports of earnings. Standard setters' authoritative pronouncements [conceptual frameworks, GAAP, EITFs, etc.] hold to the realist philosophical view that true earnings reports are ex post representations of some ex ante out-there, preexisting, extralinguistic real economic increase in the enterprise's wealth. Contra this view, in practice financial accounting executives, in league with investment analysts, routinely engage in the earnings management and manipulation in order to satisfy the capital market's insatiable demands for earnings levels which will support and enhance the enterprise's stock market price.The essay considers this state of affairs from Harold Frankfurt's [2005, 2006] truth, lies, and bullshit treatise. It sees earnings reports as short of lies, and so the accountants can only be faulted for their indifference to the truth and for giving the impression that they are trying to present the truth. A poststructuralist philosophical perspective, however, problematizes this conclusion on the basis that accounting language is not a transparent medium but rather is the material used to manufacture accounting truths. It sees accounting truths as contingent upon linguistic doctrinal accounting discourses currently ceded place of privilege by standard setters and upon the subjective considerations of accountants when they produce reports of earnings. The essay concludes that both Frankfurt's perspective and that of poststructuralist philosophers can provide valuable insights into this process.
The Number
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Author : Alex Berenson
language : en
Publisher: Random House
Release Date : 2003-03-04
The Number written by Alex Berenson and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-03-04 with Business & Economics categories.
In this commanding big-picture analysis of what went wrong in corporate America, Alex Berenson, a top financial investigative reporter for The New York Times, examines the common thread connecting Enron, Worldcom, Halliburton, Computer Associates, Tyco, and other recent corporate scandals: the cult of the number. Every three months, 14,000 publicly traded companies report sales and profits to their shareholders. Nothing is more important in these quarterly announcements than earnings per share, the lodestar that investors—and these days, that’s most of us—use to judge the health of corporate America. earnings per share is the number for which all other numbers are sacrificed. It is the distilled truth of a company’s health. Too bad it’s often a lie. The Number provides a comprehensive overview of how Wall Street and corporate America lost their way during the great bull market that began in 1982. With fresh insight, wit, and a broad historical perspective, Berenson puts the accounting fraud of the past three years in context, describing how decades of lax standards and shady practices contributed to our current economic troubles. As the bull market turned into a bubble, Wall Street became utterly focused on “the number,” companies’ quarterly earnings. Along the way, the market lost track of what companies are really supposed to do—build profitable businesses with sustainable futures. With their pay soaring, and increasingly tied to their companies’ shares, executives were more than happy to give Wall Street the predictable earnings reports it wanted, what-ever the reality of their businesses. Accountants, analysts, money managers, and individual investors played along, while the Securities and Exchange Commission found itself overwhelmed and underequipped to cope with the earnings game. The Number offers a unified vision of how today’s accounting scandals reflect a broader system failure. As long as investors remain too focused on the number, companies will find ways to manipulate it. Alex Berenson gives anyone who has ever invested in—or worked for—a public company the tools necessary to see beyond the cult of the number, understand accounting and its limits, and recognize patterns that can lead to fraud. After two decades of stock market hype, The Number offers a welcome dose of truth about the way Wall Street and corporate America really work.
Earnings Management
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Author : Joshua Ronen
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-08-06
Earnings Management written by Joshua Ronen and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-08-06 with Business & Economics categories.
This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Earnings Magic And The Unbalance Sheet
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Author : Gary Giroux
language : en
Publisher: John Wiley & Sons
Release Date : 2006-03-20
Earnings Magic And The Unbalance Sheet written by Gary Giroux and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-20 with Business & Economics categories.
Praise for Earnings Magic and the Unbalance Sheet "Gary Giroux brings a breezy, entertaining writing style thatreally helps the reader untangle arcane accounting practices,including stock options, pensions, off-balance sheet items, and therest of his 'dirty thirty.'" —Edward Swanson, Durst Chair and Professor of Accounting,Texas A&M University "Earnings Magic and the Unbalance Sheet provides equityinvestors with clear explanations of today's financial environmenttogether with specific analysis tools to assess the quality ofearnings. Gary Giroux provides a valuable and easy-to-use scoringsystem where investors assign grades to help them in theirinvestment decisions. Earnings Magic is a must-read for anyinvestor in the Dow Jones Industrial Average (Dow 30). Girouxthoroughly analyzes some of the biggest and best knowncompanies." —Andrew McLelland, Assistant Professor of Accounting, AuburnUniversity YOUR KEY TO EVALUATING A COMPANY'S EARNINGS QUALITY Wouldn't you like to know as much as you could about a companybefore you invest in it? Financial information on companies isreadily available, but not necessarily easy to interpret. With shrewd tips and state-of-the-art analytical tools,Earnings Magic and the Unbalance Sheet arms you with the keystrategies and principles to help you evaluate whether a company'sbottom line is headed toward excellence or financial abuse. Thiseye-opening guide expertly walks you through the tangle ofpotentially inflated earnings and misleading accounting disclosuresto determine a company's financial reality.
The End Of Accounting And The Path Forward For Investors And Managers
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Author : Baruch Lev
language : en
Publisher: John Wiley & Sons
Release Date : 2016-06-02
The End Of Accounting And The Path Forward For Investors And Managers written by Baruch Lev and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-02 with Business & Economics categories.
An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation.
Finding Reality In Reported Earnings
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Author : Jan R. Squires
language : en
Publisher: CFA Institute
Release Date : 1997
Finding Reality In Reported Earnings written by Jan R. Squires and has been published by CFA Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
Social Security Information About The Accuracy Of Earnings Records
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Author : United States. General Accounting Office
language : en
Publisher:
Release Date : 1991
Social Security Information About The Accuracy Of Earnings Records written by United States. General Accounting Office and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Social security records categories.
The Truth Behind The Numbers In Financial Statements
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Author : José D. Roncal
language : en
Publisher: Wheatmark, Inc.
Release Date : 2011
The Truth Behind The Numbers In Financial Statements written by José D. Roncal and has been published by Wheatmark, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
Inside: Secrets you need to know to protect your nest egg The economy shows signs of recovering from the worst recession since the 1930s. Savvy investors are already bargain shopping for stocks that are priced well and ready to climb out of the doldrums. But as the saying goes, "once burned, twice shy." It's more important than ever to guard against scams and be very careful about where you invest your hard-earned dollars. Let this book be your guide. In plain English, you'll take a guided tour of a typical financial statement, and learn: How to cut through the hype in an annual report and, with a few simple calculations, know how a company is really performing Why you should turn a deaf ear to "stock tips," even when they come from a broker or financial planner The red flags to look for in financial statements that indicate the management is trying to pull the wool over your eyes Why footnotes to financial statements are "must" reading for any investor How to use the Internet to research markets, companies, and executives to uncover problems, pitfalls and golden opportunities Secrets the pros use to spot the best performing stocks and bonds ahead of the average investor The Truth Behind the Numbers in Financial Statements is written by José Roncal, a respected international dealmaker and corporate finance expert with over 20 years of experience in finance. Read this book and you'll understand why Donald Trump called his last book "a great read." About the Author José D. Roncal is a globally mobile executive with over 20 years of experience in international business and finance, having worked and travelled frequently in six continents. Specializing in telecommunications and information technology industries, Mr. Roncal has served such well-known multinational companies as NCR, AT&T, Verizon Communications and the U.K.-based blue chip company Cable and Wireless. For 20 years, he has lived around the globe as a chief financial officer, focusing on mergers and acquisitions, joint ventures, strategic alliances, and spin-offs. His background includes building, leading, executing and advising corporations through complex restructuring, international expansion, and capital markets transactions in emerging markets. He is particularly adept at structuring and negotiating favorable terms with commercial and investment banks. Mr. Roncal has a solid track record of enhancing internal controls based on strong SEC expertise and deep understanding of Sarbanes-Oxley requirements. Investor relations skills include communication with analysts, investment advisors and shareholders. Mr. Roncal has authored numerous articles on business strategy, finance, accounting, capital markets and the global economy. He holds an MBA from Thunderbird University and a BA from Florida International University, both in the USA, and has attended various senior executive programs at Oxford University in the United Kingdom. His most recent book, also published by Wheatmark, is The Big Gamble: Are You Investing or Speculating?
Empirical Investigation Into The Stock Market Reactions To Corporate Earnings Reports
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Author : Hay Young Chung
language : en
Publisher:
Release Date : 1987
Empirical Investigation Into The Stock Market Reactions To Corporate Earnings Reports written by Hay Young Chung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with categories.
Reading Financial Reports For Dummies
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Author : Lita Epstein
language : en
Publisher: John Wiley & Sons
Release Date : 2009-03-11
Reading Financial Reports For Dummies written by Lita Epstein and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-11 with Business & Economics categories.
The second edition includes over 25 percent new and updated information including: New information on the separate accounting and financial reporting standards for private/small businesses versus public/large businesses Updated information that reflects the 2007 law on international financial reporting standards New content to match SEC and other governmental regulatory changes over the past three years New information about how the analyst-corporate connection has actually changed the playing field The impact of corporate communications and new technologies New examples that reflect the current trends Updated websites and resources