'A welcome contribution to the debate on the changing face of
accounting in Britain.' - Financial Times;Since the inception of
the Financial Reporting Council in May 1990, the Accounting
Standards Board and the Financial Reporting Review Panel have
featured prominently in the financial press. Creative Accounting
questions whether the new regime is likely to improve financial
reporting practices in the United Kingdom. Do financial statements
contain useful information? Is the new profit and loss account a
reliable measure of financial performance? What significance should
be attached to the balance sheet and the gearing ratio? Are UK
companies guilty of using financial techniques to improve their
reported results? Does the stock market pay any attention to
company financial statements? Is there such a thing as creative
accounting? What is the role of the auditor? Will the
recommendations of the Cadbury Committee help to restore public
confidence in financial reporting? In addressing these issues,
Creative Accounting highlights the complexities and limitations of
company financial statements. It is essential reading for all users
of these statements.
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