Accounting Standards: True Or False?

Pirmais vāks
Taylor & Francis, 2006 - 230 lappuses

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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Saturs

Introduction
1
PART IV
9
PART I
11
the physical dimension
13
the value dimension
26
PART II
35
Economic income and accounting profit
37
The inflation accounting debate 6
45
a question of public accountability
166
PART VI
177
Reconstruction of the conceptual framework
184
ix
189
Accounting truth and economic reality
190
1
193
Economic income the fatal flaw
197
13
198

Historical cost or current value?
53
PART III
65
Back to basics
103
The threshold of measurement
112
The fatal conceit of managerial capitalism
120
Whats wrong with accounting standards?
126
PART V
139
A segregated system of funds and value accounting
152
The accountants rate of profit ARP and the internal rate
204
The present value fallacy a graphical representation
211
References
221
26
225
37
226
a wrong turning? 8 Asset valuation a convenient distraction? 9 Fair value accounting a dead end? 55008 65
227
78
228
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