The ValueReporting Revolution: Moving Beyond the Earnings Game
| Author | : | |
| Rating | : | 4.86 (964 Votes) |
| Asin | : | 0471398799 |
| Format Type | : | paperback |
| Number of Pages | : | 384 Pages |
| Publish Date | : | 2017-06-13 |
| Language | : | English |
DESCRIPTION:
Good "second book" on accounting reform If you want to learn about accounting scams, you probably need Mulford and Comiskey, The Financial Numbers Game. But for a broader view of the virtues and limits of accounting, Eccles and company have a lot to offer. You can skip or skim the somewhat overhyped stuff about the "ValueRevolution" itself (note that three of the authors come from PricewaterhouseCoopers, where they seem to be having some trouble with their space bar, or spacebar). Keep your best brain cells for chapters three through eight, where you get a look at the earnings obsession -- and just as useful, a suggestion of what investors really need and want. A Call to Arms "ValueReporting" smoothly describes many broken financial reporting processes, including "whispering", a time-consuming process that CFOs play with analysts, where CFOs "whisper" their earnings expectations to the analyst, making the analysts appear intelligent. A great deal for the analyst cause they don't have to do any real analysis. If the CFO does not play this game, they risk the wrath of Wall Street. The problem with this is that it is in violation of the spirit (if not the law) of the yet to be enforced SEC Fair Disclosure Act which states that Sally Q. Public gets to know material information the same time that . An XML Software Guy Reviews "The Value Reporting Revolution" This is the most lucid coverage of an accounting topic that I have ever read, and also the clearest in marrying the underlying accounting principles to the related software topics. The first part of the book explains what Value Reporting is (no surprises here) and why it is needed (in theory). The book then gives how-to examples to clarify the concept. The middle of the book distinguishes this book from many other similar texts -- it explores the history of audited financial reporting, examines previous reforms and why they did not succeed more fully, then gives a data-rich analysis of why Value Reporting is REALLY neede
Even with the recent drop-off in stock prices, there's still great variation in how financial markets are valuing companies. To add more predictability to valuations, says this team of authors from PricewaterhouseCoopers, companies should take the initiative and publicize the nonfinancial measures that can drive future success. --The Harvard Business Review . The book covers these important debates, as well as the shifting world of accounting principles and oversight, in a comprehensive fashion and with clear prose. The main trouble, they find, lies not in disagreements over the key drivers but in executives' age-old reluctance to divulge information. Yet while parts of this lengthy,
Robert H. Written by an international team of experts, The Value Reporting Revolution clearly explains why corporations must move toward greater transparency and, more importantly, it provides a comprehensive framework for achieving that goal. Among other important lessons, readers learn how to identify the gaps between how corporate managers perceive their disclosure practices versus how the markets see them, as well as how to leverage their organizations' electronic communications technology and tools to ensure easy access to vital information and more meaningful data analysis. Herz (New York, NY) is a Partner at Pricewat