Accounting Standards: True Or False?

Предна корица
Taylor & Francis, 2006 - 230 страници

Following a spate of high-profile financial scandals (including Enron, WorldCom, and Parmalat), the quality of financial information has come under increasing scrutiny. Many of the accounting standards being imposed on the profession by regulators and standard-setting bodies are now attracting criticism from the business community and the accountancy profession itself.

In this book, Anthony Rayman traces a fundamental flaw in the conventional academic wisdom back to the nineteenth century, and proposes an alternative conceptual framework. He argues that effective corporate governance can be achieved, not by expensive and counterproductive regulations (like the US Sarbanes-Oxley Act and some International Accounting Standards), but by an enhanced accounting information system that exposes corporate management to the full rigour of market forces.

 

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Съдържание

PART IV
9
the physical dimension
13
the value dimension
26
The inflation accounting debate
45
PART III
65
a convenient distraction?
78
Back to basics
103
The threshold of measurement
112
A segregated system of funds and value accounting
152
a question of public accountability
166
PART VI
177
Reconstruction of the conceptual framework
184
Accounting truth and economic reality
190
Economic income the fatal flaw
197
The accountants rate of profit ARP and the internal rate
204
The present value fallacy a graphical representation
211

The fatal conceit of managerial capitalism
120
Whats wrong with accounting standards?
126
PART V
139

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