The end of accounting and the path forward for investors and managers
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 comprehensiv...
| Otros Autores: | , |
|---|---|
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Hoboken, New Jersey :
Wiley
2016.
|
| Edición: | 1st edition |
| Colección: | Wiley finance series.
|
| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009631490606719 |
Tabla de Contenidos:
- Cover
- Title Page
- Copyright
- Contents
- Acknowledgments
- The Book in a Nutshell
- Prologue
- Chapter 1: Corporate Reporting Then and Now: A Century of "Progress
- Spot the Differences
- Differences Spotted
- Real Improvements Spotted?
- A Devil's Advocate
- Takeaway
- Chapter 2: And You Thought Earnings Are the Bottom Line
- The Lucrative Earnings Prediction
- Curb Your Enthusiasm
- Earnings Had Its Days of Glory
- But Wait, What about the Earnings Consensus?
- Takeaway
- Part One: Matter of Fact
- Chapter 3: The Widening Chasm between Financial Information and Stock Prices
- How to Measure the Usefulness of Financial Information
- Honey, I Shrunk Accounting
- Some Useful Details
- And Now for Some Intuition
- Who's the Culprit-Earnings or Book Values?
- Are We Fair to Accounting?
- How Can This Be?
- Takeaway
- Chapter 4: Worse Than at First Sight
- When Is a Message Informative?
- A Preempted Announcement
- Measuring Financial Report Timeliness
- Roll the Tape
- Aren't We Trivializing Accounting's Contribution?
- Takeaway
- Chapter 5: Investors' Fault or Accounting's?
- Irrational Investors?
- Eyes to the Future
- Predicting Corporate Earnings
- And the Results Are...
- Reasons, Please
- Investors Alert: An Accounting Loss Isn't What It Used to Be
- Takeaway
- Chapter 6: Finally, For the Still Unconvinced
- But Accounting Is Complicated
- Experts at Work
- Vague Information and Disagreement
- Quantifying Disagreement
- Takeaway
- Chapter 7: The Meaning of It All
- To Recap
- Should Investors Really Care?
- A Last-Ditch Defense of Accounting
- The Decreasing Volatility of Businesses
- Takeaway
- Part Two: Why Is the Relevance Lost?
- Chapter 8: The Rise of Intangibles and Fall of Accounting
- The Intangibles Surge
- Accounting for Intangibles, Inconsistent and Opaque.
- Worst Yet-Misleading Information
- More Bad News
- More, Not Less Information Is Needed
- Intangibles and the Accounting Relevance Lost
- Not in Their Best Interest
- Takeaway
- Chapter 9: Accounting: Facts or Fiction?
- GE Brings Good Things to Life," But Not to Accounting
- How Did Estimates Come to Dominate Accounting?
- Away with Historical Values
- Roll the Tape
- Clinching the Deal
- Takeaway
- Chapter 10: Sins of Omission and Commission
- The Missing Accounting Link
- Accounting and Nonaccounting Events
- Did We Forget Causation?
- On Conservative Accountants
- Takeaway
- Part Three: So, What's to Be Done?
- Chapter 11: What Really Matters to Investors (and Managers)
- The Corporate Mission
- Digging a Bit Deeper
- Strategic Resources
- Mapping Investments to Resources
- Preserving and Renewing the Strategic Resources
- Strategic Asset Deployment and Operation
- Measuring the Value Created
- The Proposed Strategic Resources &
- Consequences Report
- Takeaway
- Chapter 12: Strategic Resources &
- Consequences Report: Case No. I-Media and Entertainment
- Sector Synopsis
- Sirius XM: Resources &
- Consequences Report
- Subscribers Growth
- It's the Strategy, Stupid
- Disruption Threat
- Value Created
- A Reality Check
- But Is This Really What Investors Need?
- Finally, a Report for the Sector
- Chapter 13: Strategic Resources &
- Consequences Report: Case No. 2-Property and Casualty Insurance
- Sector Synopsis
- It All Starts with Strategic Assets
- The Resources &
- Consequences Report: Customers
- New Products-Innovation
- Agents-Still Important
- Operations-Resource Deployment
- Penetrating the Costs Black Box
- Resource Preservation
- Value Created
- Chapter 14: Strategic Resources &
- Consequences Report: Case No. 3-Pharmaceutics and Biotech.
- Strategy and Strategic Resources
- Investing in Innovation
- The Resources &
- Consequences Report: Resource Investments
- Innovation
- Strategic Resources
- Resource Preservation
- Resource Deployment-Operations
- Value Created
- Chapter 15: Strategic Resources &
- Consequences Report: Case No. 4-Oil and Gas Companies
- Accounting Limitations
- Resource Investments
- Strategic Resources
- Resources Threats
- Resource Deployment-Operations
- Value Created
- Part Four: Practical Matters
- Chapter 16: Implementation
- How to Elicit the Proposed Information
- Pfizer Responds to Analysts' Pipeline Questions
- Why the Pipeline Expos?
- An Important Role for the SEC
- Industry Associations Could Help, Too
- But, of Course, Managers' Cooperation Is Indispensable
- Competition and Litigation Concerns
- For Consideration: Lighten the Regulatory Burden
- Takeaway
- Chapter 17: So, What to Do with Accounting? A Reform Agenda
- Revitalizing Accounting
- I. Treat Intangibles as Assets
- II. Reverse the Proliferation of Accounting Estimates
- III. Mitigate Accounting Complexity
- Takeaway
- Chapter 18: Investors' Operating Instructions
- Analysis Focused on Strategic Assets
- Assessing Enterprise Performance and Competitive Edge: The New Approach
- First Step: Taking an Inventory of Strategic Resources
- Second Step: Creating and Maintaining Strategic Assets
- Third Step: Successful Deployment of Strategic Assets
- Takeaway
- Epilogue: Advocacy Needed
- Author Index
- Subject Index
- EULA.
