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The Failure and the Future of Accounting - Strategy, Stakeholders, and Business Value (Hardcover, New Ed)
Loot Price: R4,300
Discovery Miles 43 000
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The Failure and the Future of Accounting - Strategy, Stakeholders, and Business Value (Hardcover, New Ed)
Expected to ship within 12 - 17 working days
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In The Failure and the Future of Accounting, David Hatherly
rethinks accounting in the light of a financial crisis which
exposed its limitations. He reminds us that in the run up to 2008
the accounts of financial institutions reported increasing profits
and healthy balance sheets whilst their business models were
undermining their own financial health and the economy. Accounts
failed to provide appropriate feedback on business performance.
This failure illustrated a general problem. There is a need in all
companies for better alignment between the business model and the
accounting model. To understand the performance of the business we
need to know how much value is created and how value is created,
who it is created for, what kind of value is created and how it is
measured. Here, Professor Hatherly provides an accounting model
that addresses all these questions. Coordinating business as
strategy, business as a stakeholder network and business as value,
the four slice (4S) accounting model overcomes the complexity and
incoherence of existing accounting standards. It allows managers
and shareholders to analyse the effectiveness of the business model
and for management to be held to account. It prevents the
misreporting of speculative gains as distributable income and
therefore allows capital to be better allocated towards productive
enterprise, making financial crises less likely. With its insights
into both accounting and business more generally, this book is
essential reading for accountants and accountancy students and for
those running businesses of any description.
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