Financial Reporting: An Accounting Revolution
Oriented toward concepts rather than procedures and based on materials which have appeared in previous publications with a major portion taken from the author's experiences. Reflects the author's perspective on the financial reporting environment and based upon two major sources of experience, research and institutional. The third edition of "Financial Reporting: An Accounting Revolution" has been revised to include the Feltham-Ohlson framework and a discussion of key features of financial reporting. It acknowledges recent research incorporating balance sheet as well as earnings variables. It also reflects recent empirical research that adopts a balance sheet perspective. An essential reference for all financial professionals, including analysts, regulators, and managers.
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ability accounting earnings accrual additional alter analysis announcement assessed asset associated assumed Beaver behavior beliefs capital cash flows Chapter choice claims complete component concept consequences consider context cost decision defined demand depend depreciation differ disclosure discussed dividends economic earnings effects empirical equal evidence example expected FASB financial information financial reporting firm forecast function future given growth Hence illustration imply important incentives income indicates individual information system interest intermediaries interpretation investment investors involves issue Journal lead less market efficiency market value measure method Moreover nature occur perceived period permanent perspective portfolio positive possible potential preferences present value price changes price-earnings ratios probability production rate of return reasons received reflect regulation relationship require respect result Review risk role security prices setting share signal statement studies Table theory tion valuation viewed