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Everyone interested in building a stronger business needs to understand and use the information captured in financial statements. "In Managing by the Numbers," business education and accounting experts Chuck Kremer and Ron Rizzuto team up with open-book management authority John Case to demystify the numbers. They present a practical, common-sense approach to reading financial statements and to managing the three bottom lines of business financial performance: net profit, operating cash flow, and return on assets. The book features numerous exercises and examples (with associated templates available on the Web), a powerful new management tool known as "The Financial Scoreboard," and an extensive glossary. "Managing by the Numbers" is an essential resource for entrepreneurs, business owners, managers, and anyone eager to improve their mastery of the financial side of running a business.
Firm valuation is currently a very exciting topic. It is interesting for those economists engaged in either practice or theory, particularly for those in finance. The literature on firm valuation recommends logical, quantitative methods, which deal with establishing today's value of future free cash flows. In this respect firm valuation is identical with the calculation of the discounted cash flow, DCF. There are, however, different coexistent versions, which seem to compete against each other. Entity approach and equity approach are thus differentiated. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), whereby these two concepts are classified under entity approach.
Why are there several procedures and not just one? Do they all lead to the same result? If not, where do the economic differences lie? If so, for what purpose are different methods needed? And further: do the known procedures suffice? Or are there situations where none of the concepts developed up to now delivers the correct value of the firm? If so, how is the appropriate valuation formula to be found? These questions are not just interesting for theoreticians; even the practitioner who is confronted with the task of marketing his or her results has to deal with it. The authors systematically clarify the way in which these different variations of the DCF concept are related throughout the book
ENDORSEMENTS FOR LOFFLER: DISCOUNTED 0-470-87044-3
""Compared with the huge number of books on pragmatic approaches to discounted cash flow valuation, there are remarkably few that lay out the theoretical underpinnings of this technique. Kruschwitz and Loffler bringtogether the theory in this area in a consistent and rigorous way that should be useful for all serious students of the topic,""
--Ian Cooper, London Business School
""This treatise on the market valuation of corporate cash flows offers the first reconciliation of conventional cost-of-capital valuation models from the corporate finance literature with state-pricing (or 'risk-neutral' pricing) models subsequently developed on the basis of multi-period no-arbitrage theories. Using an entertaining style, Kruschwitz and Loffler develop a precise and theoretically consistent definition of 'cost of capital', and provoke readers to drop vague or contradictory alternatives,""
--Darrell Duffie, Stanford University
""Handling firm and personal income taxes properly in valuation involves complex considerations. This book offers a new, precise, clear and concise theoretical path that is pleasant to read. Now it is the practitioners task to translate this approach into real-world applications"!"
--Wolfgang Wagner, PricewaterhouseCoopers
""It is an interesting book, which has some new results and it fills a gap in the literature between the usual undergraduate material and the very abstract PhD material in such books as that of Duffie (Dynamic Asset Pricing Theory). The style is very engaging, which is rare in books pitched at this level,""
--Martin Lally, University of Wellington
The International Accounting Standards Board continues to make strides in achieving global convergence of accounting standards, which can be used to bring about uniformity in financial reporting around the world. Uniform reporting reduces the costs of preparing financial statements for multinational companies and facilitates the jobs of investment analysts, investors, and others in assessing business results. PKF International brings together the expertise of their global team to create an indispensable guide to the interpretation and application of IFRS.
This publication provides an illustrative set of consolidated financial statements, prepared in accordance with International Financial Reporting Standards (IFRS), for a fictional manufacturing, wholesale and retail group (IFRS GAAP plc). IFRS GAAP plc is an existing preparer of IFRS consolidated financial statements. This publication is based on the requirements of IFRS standards and interpretations for financial years beginning on or after 1 January 2012. Previous ISBN: 9781847669094
A practical comparison of--and expert guidance on--IFRS and GAAP written by a practicing controller
International Financial Reporting Standards (IFRS) are used in over 120 countries. US companies will inevitably encounter IFRS when evaluating the financial health of suppliers and customers. "IFRS and US GAAP: A Comprehensive Comparison" provides instruction in accounting under IFRS within the context of US accounting standards. Practical and easy-to-use, this book includes a case study of a first time IFRS adoption, emphasizing the much greater degree of professional judgment that is needed for IFRS.Provides a heavy emphasis on practical examplesIncludes an online companion website with downloadable spreadsheets and templatesReflects current financial reporting trendsAddresses accounting requirements of which today's auditors, accountants and preparers of financial reports need to be aware
Clarifying IFRS, its impact on US companies, and where to start in understanding it, "IFRS and US GAAP" prepares US accountants to be knowledgeable with day to day financial accounting issues using IFRS's substantial similarity with US GAAP as a context.
-- Explanations of IFRS and IFRIC interpretations
A one-stop resource for understanding and applying current
International Financial Reporting Standards
As the International Accounting Standards Board (IASB) makes rapid progress towards widespread acceptance and use of IFRS (formerly named International Accounting Standards) worldwide, the need to understand these new standards increases. Now fully revised and updated, IFRS Practical Implementation Guide and Workbook, "Third Edition" is the straightforward handbook for understanding and adapting the IFRS standards.
This quick reference guide includes easy-to-understand IAS/IFRSoutlines, explanations, and practical insights that greatly facilitate understanding of the practical implementation issues involved in applying these complex standards.
Clearly explaining the IASB standards so that even first-time adopters of IFRS will understand the complicated requirements, the Third Edition presents:
Ten recently issued and revised IFRS standards including business combinations, financial instruments and newly issued IFRS for SMEs
New International Financial Reporting Interpretations Committee (IFRIC) projects
Multiple-choice questions with solutions and explanations to ensure thorough understanding of the complex IFRS/IAS standards
Case studies or "problems" with solutions illustrating the practical application of IFRS/IAS
Excerpts from published financial statements around the world
Designed with the needs of the user in mind, "IFRS Practical Implementation Guide and Workbook," Third Edition is an essential desktop reference for accountants and finance professionals, as well as a thorough review guide for the IFRS/IAS certification exam.
Globalization and the accompanying investment facilities available have resulted in rapid popularity for international financial reporting standards (IFRS). However, differences often exist in terms of what firms report, and once inconsistency between tax regulations and financial reporting regulations occur, differences between taxable and accounting practices are inevitable. This book introduces a new approach to corporate financial reporting by investigating goal incongruence (GING) in the context of the principal and agent (PA) setting. The authors argue that improving the method for the disclosure of information would not only increase the quality of corporate financial information and reporting but also reduce the possibility of any GING arising. This book presents the financial implications of international accounting and financial reporting standards (IAS and IFRS), presenting numerous real-life situations, cases, examples and implications to reveal how GING might influence the implementation of corporate financial reporting of profit volumes and sizes, which are the leading drivers of and widely accepted proxies for corporate financial performance.
Praise for Valuation for Financial Reporting, Third Edition
"Writing a book on financial reporting is a challenge in and of itself, let alone to focus on the shifting sands of valuation in financial reporting. Yet, Mard and company have done it again, and this time, it is even more user-friendly, easy to read, and topical. If you intend to wade into the swift currents of providing valuation services for financial reporting, you must have Valuation for Financial Reporting in your library or on your desk " --Neil J. Beaton, CPA/ABV, CFA, ASA, National Partner in Charge of Valuation Services, Grant Thornton, LLP
"I really like the flowcharts. The authors take the complex world of fair value measurement for business combinations and convert it to easily understandable and usable flowcharts, worksheets, and checklists." --Gordon Goodman, Trading Control Officer, Occidental Petroleum, and member of the FASB Valuation Resource Group
"The comments on efficient markets and faithful representation in the first chapter were very (very) helpful and well written. Masterful Great book and I look forward to adding it to the library " --Robin E. Taylor, CPA/ABV, CFE, CVA, CBA, Dixon Hughes PLLC, and Chairman, AICPA Business Valuation Committee
BPP Learning Media provides comprehensive materials that highlight the areas to focus on for your exams and complement the syllabus to increase your understanding.
Practical examples, sample reports, best practices and recommendations to help you deter, detect, and prevent financial statement fraud
Financial statement fraud (FSF) continues to be a major challenge for organizations worldwide. "Financial Statement Fraud: Prevention and Detection, Second Edition" is a superior reference providing you with an up-to-date understanding of financial statement fraud, including its deterrence, prevention, and early detection.
You will find
"Financial Statement Fraud, Second Edition c"ontains recommendations from the SEC Advisory Committee to reduce the complexity of the financial reporting process and improving the quality of financial reports.
Based on 4 years' worth of understanding, this new edition of Financial Reporting for Unlisted Companies in the UK and the Republic of Ireland details how the standard should be applied in different circumstances. This is conveyed using many real-life examples from practice. The content has also been restructured so it is more in line with the structure of FRS 102. This edition of the title also incorporates the micro-entities regime, which had not been transposed into company law at the time the 1st edition was written. The book has also been revised with the changes brought in through the FRC's Triennial Review which was published in December 2017. The principal amendments to the standard are as follows: - The simplification of the measurement of directors' loans to small entities - A requirement for fewer intangible assets to be separated from goodwill in a business combination - Permit investment property rented to another group entity is to be measured by reference to cost, rather than fair value - There is expansion of the circumstances in which a financial instrument may be measured at amortised cost, rather than fair value - The definition of a financial institution has been simplified. New case law covered includes: - Companies Act 2006 and related SIs - FRS 102 The Financial Reporting Standard Applicable in the UK and the Republic of Ireland (March 2018) - FRS 105 The Financial Reporting Standard Applicable to the Micro-entities Regime (March 2018)
BPP Learning Media s status as official ACCA Approved Learning Provider Content means our DipIFR Study Texts and Practice & Revision Kits are reviewed by the ACCA examining team. BPP Learning Media products provide you with the up-to-date material you need for exam success.
Reading Financial Reports For Dummies, 3rd Edition (9781119543954) was previously published as Reading Financial Reports For Dummies, 3rd Edition (9781118761939). While this version features a new Dummies cover and design, the content is the same as the prior release and should not be considered a new or updated product. Discover how to decipher financial reports Especially relevant in today's world of corporate scandals and new accounting laws, the numbers in a financial report contain vitally important information about where a company has been and where it is going. Packed with new and updated information, Reading Financial Reports For Dummies, 3rd Edition gives you a quick but clear introduction to financial reports-and how to decipher the information in them. New information on the separate accounting and financial reporting standards for private/small businesses versus public/large businesses New content to match SEC and other governmental regulatory changes 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 current trends Updated websites and resources Reading Financial Reports For Dummies is for investors, traders, brokers, managers, and anyone else who is looking for a reliable, up-to-date guide to reading financial reports effectively.
Financial reporting is a strategic means of communication: management has an opportunity to interpret, and the power to deliver, what is materially important to the organization's stakeholders. Understanding materiality means steering the company in the right direction, and many internal management battles regarding what and how to disclose in external financial reporting run on the verge of materiality. This book offers an integrated perspective of materiality from the angles of accounting (IFRS, US GAAP and SEC Rules and Regulations), auditing, internal control over financial reporting, management commentary, financial analysis, management control, forensic analysis, sustainability reporting, corporate responsibility, assurance standards, integrated reporting, and limited legal considerations. In Materiality in Financial Reporting: An Integrative Perspective, the author adopts a practical, operational approach to show how strategy, processes, and communication can be used to devise a consistent corporate governance system of materiality.
Save time with the keyword-searchable GAAP 2017 CD-ROM! * Gain instant access to any topic with the point-and-click index and table of contents * Find what you need FAST using bookmarks that allow for easy reference reminders Minimum System Requirements * Adobe Acrobat Reader, Adobe Digital Editions or compatible PDF reader *Please view www.adobe.com for specific requirements. * CD-Rom Drive For technical support, please visit http://www.support.wiley.com. For telephone support, please contact us at: 1-800-762-2974 (U.S.) 1-317-572-3994 (International) 8:00 am to 8:00 pm EST, Monday through Friday CUSTOMER NOTE: PLEASE READ THE FOLLOWING BEFORE OPENING THE PACKAGE. By opening the package, you are agreeing to be bound by the following agreement: This software product is protected by copyright and all rights are reserved by the author, John Wiley & Sons, Inc., or their licensees. You are licensed to use this software as described in the software. Copying the software for any other purpose may be a violation of U.S. Copyright Law. This software product is sold as is without warranty of any kind, either express or implied, including but not limited to the implied warranty of merchantability and fitness for a particular purpose. Neither Wiley nor its dealers or distributors assumes any liability for any alleged or actual damages arising from the use of or the inability to use this software. (Some states do not allow the exclusion of implied warranties, so the exclusion may not apply to you.)
BPP Learning Media is an ACCA approved content provider. Our suite of study tools will provide you with all the accurate and up-to-date material you need for exam success.
BPP Learning Media provides comprehensive materials that highlight the areas to focus on for your exams and complement the syllabus to increase your understanding.
The perfect guide to help you understand XBRL-from the "father of XBRL"
What is XBRL and how can it help you streamline your business reporting? This plain-English guide from the "father of XBRL," Charles Hoffman, will tell you what it is, why it is, and how you can get on the bus with this new SEC-mandated business reporting standard for publicly-traded companies. A CPA, Hoffman is credited with the idea of applying XML data to financial reporting; XBRL is the language that resulted. Learn to prepare financial statements with XBRL, use it for strategic planning, move all relevant departments in your company to the same system, and more.XBRL (eXtensible Business Reporting Language) is an XML-based open standard for accounting data; author Charles Hoffman is credited with the idea of applying XML data to financial reportingPlan for XBRL implementation, set action-oriented agendas, and identify stakeholders and subject-matter experts within your organizationLearn to choose from and adapt existing XBRL taxonomies to comply with US GAAP and IFRS standards
Topics also include how to adapt your existing financial information into XBRL.
Accounting standards in the UK and Republic of Ireland are going through a radical change. This book outlines the changes concerned, how they affect companies, what differences exist between the new and the old rules and what practitioners and directors should be aware of in producing financial statements for statutory purposes. To aid this theory, numerous worked examples and illustrative model accounts are included to help preparers understand how these changes should be implemented. Practitioners and preparers of accounts need to be fully versed in the changes to accounting practice and the stumbling blocks to avoid under the new rules. Each chapter contains a `Pitfalls to avoid' section as well as a `Chapter summary' to help preparers to understand the key differences. Invariably, if the accounts themselves are incorrect due to a misunderstanding of the new treatments, the resulting tax will be incorrect. UK Financial Statements: Presentation and Disclosure Requirements provides a comprehensive overview of the new reporting regimes in the UK and Republic of Ireland. Written by an expert in UK company financial reporting issues, it includes illustrative financial statements, model disclosures and the structure of the primary statements under new UK GAAP and EU-adopted IFRS. The appendices also contain useful disclosure checklists. The book is ideal for: Practitioners dealing with all types of companies Tax advisers Company directors Students studying for professional examinations Coverage includes: Introduction; Overview of the revised Companies Act 2006; Summary of new UK GAAP and emerging issues and how to deal with them; Overview of small and micro-entity reporting requirements; Sample micro-entity financial statements; Sample small company financial statements; Sample medium-sized company financial statements; Sample large (unlisted) company financial statements; Sample EU-adopted IFRS financial statements; Abridged and adapted financial statements; Consolidated financial statements - overview of the requirements; Sample consolidated financial statements prepared to UK GAAP; Sample consolidated financial statements prepared to EU-adopted IFRS; Auditing financial statement disclosures. Appendices include: Disclosure checklists for micro-entities, small companies, medium-sized companies, large companies and EU-endorsed IFRS.
Now the best-selling book of its kind has gotten even better. This revised and expanded second edition of Ittelson's master work will give you that firm grasp of "the numbers" necessary for business success. With more than 100,000 copies in print, Financial Statements is a perfect introduction to financial accounting for non-financial managers, stock-market investors, undergraduate business and MBA students, lawyers, lenders, entrepreneurs, and more. Most introductory finance and accounting books fail either because they are written "by accountants for accountants" or the authors dumb down the concepts until they are virtually useless. Financial Statements deftly shows that all this accounting and financial-reporting stuff is not rocket science and that you can understand it! Ittelson empowers non-financial managers by clearly and simply demonstrating how the balance sheet, income statement and cash flow statement work together to offer a snapshot of any company's financial health.
Valuation is at the heart of investing. A considerable part of the information for valuation is in the financial statements. "Financial Statement Analysis and Security Valuation," 5 e by Stephen Penman shows students how to extract information from financial statements and use that data to value firms. The 5th edition shows how to handle the accounting in financial statements and use the financial statements as a lens to view a business and assess the value it generates.
The IFRS 15 standard is here--is your company ready? Learn how SAP Revenue Accounting and Reporting (RAR) can align your financial reporting standards with this guide! Walk through the new five-step framework for revenue recognition, dive into best practices for implementing SAP RAR, and then configure the solution. From there, see how to migrate old data, process contracts, and produce reports. Don't delay: Make sure your business is IFRS-compliant.
This guide to understanding financial statements assumes no prior knowledge of accounting or mathematics, or even business sophistication. It contains numerous worked-out examples and sample balance sheets which clarify explanations, while end-of-chapter questions make the book useful for self-study and training programmes. Now in its second edition, it features new and expanded coverage of cash flow analysis, Subchapter S corporations, LIFO/FIFO accounting and profit margin analysis.
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