Contemporary Issues in Financial Reporting A User-Oriented Approach [Hardcover]

With the collapse of Enron and other similar scandals, financial reporting and its relation to corporate governance has become a contentious issue. In this revealing book, author Paul Rosenfield involves the reader in exploring contemporary financial reporting and skilfully highlights the deficiencies in current methods. In doing so it provides a user-oriented guide to the salient issues which affect all aspects of financial accounting. 

Contemporary Issues in Financial Reportingchallenges the reader to critically think through the issues and arguments involved in the practice of financial reporting. It goes to the heart of the most difficult and controversial problems, investigating the major issues and commenting upon the solutions offered in financial reporting literature. The grave defects in current accepted accounting principles are demonstrated and exposed, and alternative solutions are offered.

Written by a former Secretary General of the International Accounting Standards Committee, practitioners and accounting scholars alike will find this volume to be an essential addition to their libraries.

Prologue: Thinking Independently  Section 1: Setting the Stage  1. The Nature of Financial Reporting  2. The Incentives of the Parties to Financial Reporting  3. Designing Financial Statements by Starting with Desired Results or by Applying Analysis for the Benefit of the Users  4. The Indoctrination of Financial Reporters  Section 2: Issues Underlying Financial Reporting  5. Views on the Desirability of Stabilizing Income Reporting by the Design of GAAP  6. Measurement in the Preparation of Financial Statements  7. Historical Report  8. The Focus of Attention in Financial Reporting  9. The Elements of the Reporting Entity RepresentelSx