This book explains how and why corporations use the internet for reporting to their stakeholders. While many such books are limited to financial reporting, this book extends to business reporting, environmental, social and governance (ESG) reporting and integrated reporting. A key part of it is the impact of the major drivers entering into modern reporting, including the movement to data driven decision making, impact of big data, advanced analytics, and the use of electronic representations of data with tools such as XBRL. It also explores the various vehicles for using the internet, including social media and blogs as well as corporate websites and the websites of regulators. And it delves into the impact of portable devices, like smart phones and tablets. Corporate reporting on the internet is changing fast because of changes in technology and in stakeholder expectations. For example, stakeholders now expect a lot more from companies than they did a few years ago in disclosing the effects of the company on the environment and the effects of the environment on the company. The book describes the evolution of corporate reporting in recent years, the state of the art now and provides a roadmap for companies to follow in the near future - a roadmap they should be starting on now. So this book is of interest to executives in charge of the reporting function for their companies, to students of accounting and management who aspire to corporate reporting responsibilities and to serious investors and others with a strong interest in corporate reporting and the direction in which it is headed. Most importantly, the book lays out a strong case for integrated reporting, what it means, attempts at integrated reporting so far, and the future of integrated websites. It also shows how reporting on the internet is ideally suited to fostering the growth of integrated reporting.

This book, first published in 1982, collects papers about market price valuations capable of different interpretations. Many give quite explicit support for the selling price case. Others are incapable of reasonable interpretation other than in support for selling price valuations. And still others are not inconsistent with the selling price case. Together they provide valuable historical analysis of selling price valuations in diverse contexts.

Since the global financial crisis of 2007-8, new laws and regulations have been introduced with the aim of improving the transparency in financial reporting. Despite the dramatically increased flow of information to shareholders and the public, this information flow has not always been meaningful or useful. Often it seems that it is not possible to see the wood for the trees. Financial scalds continue, as Wirecard, NMC Health, Patisserie Valerie, going back to Carillion (and many more) demonstrate. Financial and corporate reporting have never been so fraught with difficulties as companies fail to give guidance about the future in an increasingly uncertain world aided and abetted by the COVID-19 pandemic. This concise book argues that the changes have simply masked an increase in the use of corporate PR, impression management, bullet points, glossy images, and other simulacra which allow poor performance to be masked by misleading information presented in glib boilerplate texts, images, and tables. The tone of the narrative sections in annual reports is often misleading. Drawing on extensive research and interviews with insiders and experts, this book charts what has gone wrong with financial reporting and offers a range of solutions to improve information to both investors and the public. This provides a framework for a new era of forward-looking corporate reporting and guidance based on often conflicting multiple corporate goals. The book also examines and contrasts the latest thinking by the regularity authorities. Providing a compelling exploration of the industry's failings and present difficulties, and the impact of future disruption, this timely, thought-provoking book will be of great interest to students, researchers, and professionals as well as policy makers in accounting, financial reporting, corporate reporting, financial statement analysis, and governance.

Financial accounting theory has numerous practical applications and policy implications, for instance, international accounting standard setters are increasingly relying on theoretical accounting concepts in the creation of new standards; and corporate regulators are increasingly turning to various conceptual frameworks of accounting to guide regulation and the interpretation of accounting practices. The global financial crisis has also led to a new found appreciation of the social, economic and political importance of accounting concepts generally and corporate financial reporting in particular. For instance, the fundamentals of capital market theory (i.e. market efficiency) and measurement theory (i.e. fair value) have received widespread public and regulatory attention. This comprehensive, authoritative volume provides a prestige reference work which offers students, academics, regulators and practitioners a valuable resource containing the current scholarship and practice in the established field of financial accounting theory.

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.

The Routledge Companion to Accounting History presents a single-volume synthesis of research in this expanding field, exploring and analysing accounting from ancient civilisations to the modern day. No longer perceived as the narrow study of how a mysterious technique was used in past, the scope of accounting history has widened substantially. This revised and updated volume moves beyond the history of accounting technologies, accounting theories and practices and the accountants who applied them. Expert contributors from around the world explore the interfaces between accounting and the economy, society, culture and the polity. Accounting history is shown to offer important insights into such disparate phenomena as the evolution of capitalism, control of labour, gender and family relationships, racial exploitation, the operation of religious organisations, and the functioning of the state. Illuminating the foundation and development of accounting systems, this updated, classic book opens the field to a new generation of accounting scholars and historians around the world.

"This is an impressive step in the development of company reporting. The proposed reporting system, based on business definition, business position, business reputation, and advanced cash flow, is actually a revelation. It shows a new way to expand today's business reporting systems, matching development trends in society. I see it as a welcome and even necessary step to bring company reporting in line with today's requirements."
--Pierre Berhin, international fund manager

"I just read Chapter Four . . . extremely interesting and very much in tune with the needs of companies today. Especially the parts about baseline reporting, business definition, and client relationships. It is amazing how many important international companies that I have done consulting for have such internal disasters going on and apply very little of the concepts that you speak of. I believe your book will be received very well and hopefully be placed on required reading lists for business students around the world."
--Christian G. Foucher, international business consultant performance management specialist

"A true enterprise risk management process. Not only should this book have an impact on how society and commerce look upon how we create, preserve, lose, or destroy value and how we account for our business activities, but also on the way we perceive and react to risks and opportunities. Through their teachings and business practices, the authors have significantly changed my own perception of the vast variety of factors and circumstances (risks) that may threaten the health and well-being of organizations."
--Per E. Aakenes, Chairman The Swedish Risk Management Association

"Accountingspecialists know that traditional accounting concepts are no longer adequate to describe today's companies, but for the most part they, and corporate managements themselves, have nothing to replace the current system. Now, along come Hans V. A. Johnsson and Per Erik Kihlstedt with Performance-Based Reporting, a clear and convincing description of why the old system can't work and what system can."
--Peter J. Wallison, Resident Fellow American Enterprise Institute

The successfully proven alternative system for relevant business reporting through performance management

Performance-Based Reporting shows businesses how traditional accounting fails to provide meaningful measures for performance and presents radically innovative and thoroughly tested methods for performance-oriented management, assessment, and reporting. Twenty-five years in the making, this helpful book also presents The Baseline Approach to management, assessment, and reporting--composed of eighty-percent accounting-free methods.

Performance-Based Reporting presents the culmination of intense experiments involving more than 1,500 businesses and over 4,000 executives. It definitively proves the need for new tools for realistic business planning and management in an unpredictable world. These tools already exist, and this helpful guide walks readers through the process of implementing them to help firms improve their ability to predict the direction they should take in the future.

A History of Corporate Financial Reporting provides an understanding of the procedures and practices which constitute corporate financial reporting in Britain, at different points of time, and how and why those practices changed and became what they are now. Its particular focus is the external financial reporting practices of joint stock companies. This is worth knowing about given the widely held view that Britain (i) pioneered modern financial reporting, and (ii) played a primary role in the development of both capital markets and professional accountancy. The book makes use of a principal and agent framework to study accounting's past, but one where the failure of managers always to supply the information that users' desire is given full recognition. It is shown that corporate financial reporting did not develop into its current state in a straightforward and orderly fashion. Each era produces different environmental conditions and imposes new demands on accounting. A proper understanding of accounting developments therefore requires a careful examination of the interrelationship between accountants and accounting techniques on the one hand and, on the other, the social and economic context within which changes took place. The book's corporate coverage starts with the legendary East India Company, created in 1600, and continues through the heyday of the statutory trading companies founded to build Britain's canals (commencing in the 1770s) and railways (commencing c.1829) to focus, principally, on the limited liability company fashioned by the Joint Stock Companies Act 1844 and the Limited Liability Act 1855. The story terminates in 2005 when listed companies were required to prepare their consolidated accounts in accordance with International Financial Reporting Standards, thus signalling the effective end of British accounting.

A professional perspective to implementing IFRS 10, 11, and 12 The new International Financial Reporting Standards (IFRS) 10, 11, and 12 are changing group accounting for many businesses. As business becomes increasingly global, more and more firms will need to transition using the codes and techniques described in Principles of Group Accounting under IFRS. This book is a practical guide and reference to the standards related to consolidated financial statements, joint arrangements, and disclosure of interests. Fully illustrated with a step-by-step case study, Principles of Group Accounting under IFRS is equally valuable as an introductory text and as a reference for addressing specific issues that may arise in the process of consolidating group accounts. The new international standards will bring about significant changes in group reporting, and it is essential for accountants, auditors, and business leaders to understand their implications. Author Andreas Krimpmann is an internationally recognized authority on the transition from GAAP to IFRS, and this new text comes packaged with GAAP/IFRS comparison resources that will help make the changes clear. Other bonus resources include an Excel-based consolidation tool, checklists, and a companion website with the latest information. Learn about: * Definitions, requirements, processes, and transition techniques for IFRS 10, 11, and 12 covering group level accounting * Practical implementation strategies demonstrated through a clear case study of a midsize group * Key concepts related to consolidated financial statements, joint ventures, management consolidation, and disclosure of interests * Comparisons between GAAP and IFRS to clarify the required changes for international firms Whatever stage of the consolidation process you are in, you will appreciate the professional perspective in Principles of Group Accounting under IFRS.

All business organizations produce financial statements, and the information communicated (or hidden) in these is relevant to a wide range of users. After a number of recent financial scandals from banks to supermarkets, the need to fully understand financial statements has never been so imperative, and the topic itself so pertinent. With updated examples to reflect the current business environment, including new material on the ethical considerations, and a wider array of business examples, from retail to services and banks, O'Hare continues to demist financial statements for non-specialists. In this new and refreshed edition, he once again covers the topic in an accessible way and assumes no prior training or study in accounting. Offering a range of extra resources, including end of chapter questions, topics for further discussion and brimming with real-world examples, this concise new edition provides a comprehensive resource that will be welcomed by lecturers and instructors charged with delivering classes on financial statements.

A textbook that provides a coherent description of valuation models over a wide range of securities. Students can study both the theories and the practical implementations of the valuation models. Further, students can use the extensive Excel models applying to practical problems ( the cases) and exercises. The book is the only textbook that is supported by a complete set of excel models enabling students to use the models in 'real life' cases. This book combines the theories and case studies in one coherent treatment for the courses in securities valuation.

All business organizations produce financial statements, and the information communicated (or hidden) in these is relevant to a wide range of users. After a number of recent financial scandals from banks to supermarkets, the need to fully understand financial statements has never been so imperative, and the topic itself so pertinent. With updated examples to reflect the current business environment, including new material on the ethical considerations, and a wider array of business examples, from retail to services and banks, O'Hare continues to demist financial statements for non-specialists. In this new and refreshed edition, he once again covers the topic in an accessible way and assumes no prior training or study in accounting. Offering a range of extra resources, including end of chapter questions, topics for further discussion and brimming with real-world examples, this concise new edition provides a comprehensive resource that will be welcomed by lecturers and instructors charged with delivering classes on financial statements.

It is clear that value added methods provide relevant, useful information for financial analysis, market valuation, and financial decision making in corporate settings. Value added methods can be used in ratio analysis, in the determination of earnings as an earnings management tools, and can be substituted for earnings in equity valuation. When included in a wealth measurement it can vastly improve the quality of decision making. Riahi-Belkaoui covers these topics and more. His book is a probing, essential examination of what the latest value added methods are and what they can do, not only for accounting professionals but for academics and top corporate management as well.

Value added reporting is popular in most European countries and in New Zealand, South Africa, and Australia. Most emerging countries are using it too, or considering it. Riahi-Belkaoui explicates latest developments in value-added practice and research, first covering the meaning of the concept, the history behind value added's development and its implied advantages and disadvantages. He then covers the derivation of a value added report, using a fictional case and the resulting data, before moving to an overview of the empirical literature most concerned with value added in the United States. Documenting the overall behavior of the net value added earnings policy model, he lays the foundation for more contextually specific approaches and investigates the usefulness of the substitution of net-value added in equity valuation. The book concludes with an examination of whether accounting knowledge is associated with a decision maker's tendency to ignore value added in wealth measurement in favor of the profit concept. Riahi-Belkaoui draws heavily on his own important writings, to further illustrate and explain the methods and benefits of value added approaches in accounting and other forms of financial decision making.

The fully update "Third Edition" of the most trusted book on financial statement analysis

Recent financial events have taught us to take a more critical look at the financial disclosures provides by companies. In the "Third Edition" of "Analysis of Financial Statements," Pamela Peterson-Drake and Frank Fabozzi once again team up to provide a practical guide to understanding and interpreting financial statements. Written to reflect current market conditions, this reliable resource will help analysts and investors use these disclosures to assess a company's financial health and risks.

Throughout "Analysis of Financial Statements, Third Edition," the authors demonstrate the nuts and bolts of financial analysis by applying the techniques to actual companies. Along the way, they tackle the changing complexities in the area of financial statement analysis and provide an up-to-date perspective of new acts of legislation and events that have shaped the field.Addresses changes to U.S. and international accounting standards, as well as innovations in the areas of credit risk models and factor modelsIncludes examples, guidance, and an incorporation of information pertaining to recent events in the accounting/analysis communityCovers issues of transparency, cash flow, income reporting, and much more

Whether evaluating a company's financial information or figuring valuation for M&A's, analyzing financial statements is essential for both professional investors and corporate finance executives. The "Third Edition" of "Analysis of Financial Statements" contains valuable insights that can help you excel at this endeavor.

Valuation: Theories and Concepts provides an understanding on how to value companies that employ non-standard accounting procedures, particularly companies in emerging markets and those that require a wider variety of options than standard texts provide. The book offers a broader, more holistic perspective that is perfectly suited to companies and worldwide markets. By emphasizing cases on valuation, including mergers and acquisition valuation, it responds to the growing expectation that students and professionals must generate comprehensive perspectives based on thorough investigations and a library of valuation theories. Readers will gain a better understanding of the development of complete analyses, including trend analysis of financial parameters, ratio analysis, and differing perspectives on valuation and strategic initiatives. Case studies include stock market performance and synergies and the intrinsic value of the firm are compared with offer price. In addition, full data sets for each chapter are available online.

Financial analysis is integral to business sustainability in determining an organisation's financial viability and revealing its strengths and weaknesses, a key requirement in today's competitive business environment. In a first of its kind, Financial Statements Analysis: Cases from Corporate India: evaluates the financial performance and efficiency of various corporate enterprises in India; presents actual case studies from eight core sectors (in manufacturing and services) - construction, cement, steel, automobile, power, telecom, banking, and Business Process Outsourcing (BPO); examines the financial statements on parameters such as financial ratios (profitability, solvency, and liquidity), while appraising their operating efficiency, market potential and valuation; and investigates their implications for larger decision-making and policy recommendations. It will be an important resource for scholars, teachers and students of business and management, commerce, finance, and accounting. It will also appeal to corporate trainers, senior executives and consultants in related fields.

Business sustainability has advanced from greenwashing and branding to being a business imperative. Stakeholders, including shareholders, demand, regulators require, and companies now need to report their sustainability performance. No longer is this a choice for businesses. A decade ago, fewer than 50 companies released sustainability reports, and now more 8,000 global public companies disclose sustainability performance information on some or all five economic, governance, social, ethical, and environmental (EGSEE) dimensions of sustainability performance, and this trend is expected to continue. Indeed, more than 6,000 European public companies would be required to disclose their environmental, social, governance and diversity information for their 2017 reporting year. However, the proper determination of sustainability performance, accurate and reliable reporting and independent assurance of sustainability information remain major challenges for organizations of all types and sizes. Through reading this book, you will: Identify sustainability strategies to create innovation in new products, services, energy-efficiency, environmental facilities and green initiatives. Understand the role and responsibilities of all participants in the corporate reporting process, including directors, officers, internal auditors, external auditors, legal counsel, and investors. See ways to improve public trust, investor confidence, business reputation, employee satisfaction, corporate culture, social responsibility and environmental performance. Learn all five economic, governance, social, ethical and environmental (EGSEE) dimensions of sustainability performance separately and their integrated and interactive effects on achieving the goal of creating sustainable value for all stakeholders, including shareholders. Learn how to adopt best practices in sustainability development and performance, and deliver effective integrated sustainability reporting and assurance.

Business sustainability has advanced from greenwashing and branding to being a business imperative. Stakeholders, including shareholders, demand, regulators require, and companies now need to report their sustainability performance. No longer is this a choice for businesses. A decade ago, fewer than 50 companies released sustainability reports, and now more 8,000 global public companies disclose sustainability performance information on some or all five economic, governance, social, ethical, and environmental (EGSEE) dimensions of sustainability performance, and this trend is expected to continue. Indeed, more than 6,000 European public companies would be required to disclose their environmental, social, governance and diversity information for their 2017 reporting year. However, the proper determination of sustainability performance, accurate and reliable reporting and independent assurance of sustainability information remain major challenges for organizations of all types and sizes. Through reading this book, you will: Identify sustainability strategies to create innovation in new products, services, energy-efficiency, environmental facilities and green initiatives. Understand the role and responsibilities of all participants in the corporate reporting process, including directors, officers, internal auditors, external auditors, legal counsel, and investors. See ways to improve public trust, investor confidence, business reputation, employee satisfaction, corporate culture, social responsibility and environmental performance. Learn all five economic, governance, social, ethical and environmental (EGSEE) dimensions of sustainability performance separately and their integrated and interactive effects on achieving the goal of creating sustainable value for all stakeholders, including shareholders. Learn how to adopt best practices in sustainability development and performance, and deliver effective integrated sustainability reporting and assurance.

As the monetary cost of fraud escalates globally, and the ensuing confidence in financial markets deteriorates, the international demand for quality in financial statements intensifies. But what constitutes quality in financial statements? This book examines financial statement fraud, a topical and increasingly challenging area for financial accounting, business, and the law. Evidence shows that accounting anomalies in an organization's financial statements diminish the quality and serviceability of financial information. However, an anomaly does not necessarily signal fraud. Financial statement fraud is intended to mislead shareholders and other stakeholders. In this book, elements that underpin diversity of accounting anomalies likely found in fraudulent financial accounting statements are revealed. Multiple research methods are used in the analysis of selected international fraud cases, each illustrating examples of financial statement fraud, including: revenue recognition, overstatement and/or misappropriation of assets, understatement of expenses and liabilities, disclosure fraud, bribery and corruption. Additionally, the phoenix phenomenon with regard to fraud in financial accounting is investigated. Drawing on documented observations of commercial and legal cases globally this study highlights the necessity for continued development of financial audit practices and other audit services.

In Time Series Analysis and Adjustment the authors explain how the last four decades have brought dramatic changes in the way researchers analyze economic and financial data on behalf of economic and financial institutions and provide statistics to whomsoever requires them. Such analysis has long involved what is known as econometrics, but time series analysis is a different approach driven more by data than economic theory and focused on modelling. An understanding of time series and the application and understanding of related time series adjustment procedures is essential in areas such as risk management, business cycle analysis, and forecasting. Dealing with economic data involves grappling with things like varying numbers of working and trading days in different months and movable national holidays. Special attention has to be given to such things. However, the main problem in time series analysis is randomness. In real-life, data patterns are usually unclear, and the challenge is to uncover hidden patterns in the data and then to generate accurate forecasts. The case studies in this book demonstrate that time series adjustment methods can be efficaciously applied and utilized, for both analysis and forecasting, but they must be used in the context of reasoned statistical and economic judgment. The authors believe this is the first published study to really deal with this issue of context.

This book provides an illuminating analysis of Internally Generated Goodwill from a strategic point of view. The author launches his strategic analysis from a foundational understanding of Internally Generated Goodwill as determined largely in relationship to intangible resources and competitive differentials. Arguing that intangible resources are at the origin of competitive differential--and accordingly at the origin of the achievement of economic profit--the author shows how Internally Generated Goodwill can be considered as the economic expression of competitive differentials and, therefore, as the expression of the greater firm s value that originates from those differentials.

In addition to offering this innovative theoretical framework, the author develops a variety of practical tools for generating value estimates and value breakdowns of IIG. The masterful analysis provided here focuses on developing methods for identifying the elements that compose IIG and on achieving an accurate estimate of its value, ultimately seeking to evaluate the limitations and advantages of the existing variety of approaches to analyzing the constituent parts of IIG and to devise accounting practices that will help academics and professionals alike to obtain more significant and lucid results.

Better Corporate Reporting outlines the latest frameworks for enhancing non-financial and sustainability reporting. It includes guides to: the International Integrated Reporting Council's new framework; the Global Reporting Initiative's G4 framework; and a detailed look at the concept at the heart of both of these new frameworks, materiality.

Financial analysis is integral to business sustainability in determining an organisation's financial viability and revealing its strengths and weaknesses, a key requirement in today's competitive business environment. In a first of its kind, Financial Statements Analysis: Cases from Corporate India: evaluates the financial performance and efficiency of various corporate enterprises in India; presents actual case studies from eight core sectors (in manufacturing and services) - construction, cement, steel, automobile, power, telecom, banking, and Business Process Outsourcing (BPO); examines the financial statements on parameters such as financial ratios (profitability, solvency, and liquidity), while appraising their operating efficiency, market potential and valuation; and investigates their implications for larger decision-making and policy recommendations. It will be an important resource for scholars, teachers and students of business and management, commerce, finance, and accounting. It will also appeal to corporate trainers, senior executives and consultants in related fields.

The rise of the British accountancy profession from the late nineteenth century to the present day, and the world-wide success of its accountancy firms, were to a large extent based on the growth of the audit function. This book explores the history of the audit process in Britain, demonstrating that the characteristic features of the auditing industry are a diversity in practice based largely on the different types of clients the auditors serve. The book examines the innovation that was brought about by the staggering developments in information technology which have been seen over the last few centuries. This comprehensive history will be a useful reference tool for accounting, business and economic historians and will also be an enlightening read for all those with an interest in auditing procedures.

Praise for "The Financial Numbers Game"

"So much for the notion 'those who can, do--those who can't, teach.' Mulford and Comiskey function successfully both as college professors and real-world financial mercenaries. These guys know their balance sheets. The Financial Numbers Game should serve as a survival manual for both serious individual investors and industry pros who study and act upon the interpretation of financial statements. This unique blend of battle-earned scholarship and quality writing is a must-read/must-have reference for serious financial statement analysis."
--Bob Acker, Editor/Publisher, "The Acker Letter"

"Wall Street's unforgiving attention to quarterly earnings presents ever-increasing pressure on CFOs to manage earnings and expectations. The Financial Numbers Game provides a clear explanation of the ways in which management can stretch, bend, and break accounting rules to reach the desired bottom line. This arms the serious investor or financial analyst with the healthy skepticism required to drive beyond reported results to a clear understanding of a firm's true performance."
--Mark Hurley, Managing Director, Training and Development Global Corporate and Investment Banking, Bank of America

"After reading The Financial Numbers Game, I feel as though I've taken a master's course in financial statement analysis. Mulford and Comiskey's latest book should be required reading for anyone who is serious about fundamentally analyzing stocks."
--Harry Domash, Investing Columnist, "San Francisco Chronicle" and Publisher, "Winning Investing"

"The Financial Numbers Game" identifies the steps businesses may take to misstate financial performanceand helps its readers to identify those situations where reported results may not be what they seem.