Accounting standards : true or false? by Rayman, R. A instant download

Accounting standards : true or false? by Rayman, R. A instant download

1 online resource (x, 230 pages) :, \"Are International Accounting Standards closing the 'expectation gap' between what accounts are believed to represent and what they actually do represent? Or widening it still further?\" \"This book argues that 'fair value accounting' is a good label for stifling criticism; but it is highly misleading.\" \"Tracing a fundamental flaw in the conventional academic wisdom back to the nineteenth century, this book proposes an alternative conceptual framework. Effective corporate governance is achievable, not by expensive and counterproductive regulations like the US Sarbanes-Oxley Act, but by an enhanced accounting information system that exposes corporate management to the full rigour of market forces.\" \"This piece of analysis challenges the current direction of accounting standards and proposes an alternative. Its novel perspective on financial reporting provides a framework for debating some of the key contemporary issues facing the accountancy profession. Readable and accessible to a wide audience, it will be of interest to all accountants - students, academics, and practitioners.\"--Jacket, Includes bibliographical references (pages 221-224) and index, Stewardship reporting : the physical dimension -- Business accounting -- Performance reporting : the value dimension -- Economic income and accounting profit -- The inflation accounting 'debate' -- Historical cost or current value? -- Value change : a wrong turning? -- Asset valuation : a convenient distraction? -- Fair value accounting : a dead end? -- What's wrong with investment theory? -- The 'threshold of measurement' -- The fatal conceit of managerial capitalism -- What's wrong with accounting standards? -- Financial performance and the investment rate -- A segregated system of funds and value accounting -- Management and the auditor : a question of public accountability -- Elimination of the expectation gap -- Reconstruction of the conceptual framework -- Accounting truth