Hidden Financial Risk Understanding Off-Balance Sheet Accounting

Name: Hidden Financial Risk
Author: J. Edward Ketz

Auteur: J. Edward Ketz

Taal: Engels

Afbeeldingen

Artikel vergelijken

Vergelijk met andere artikelen

Bekijk nu

Auteur: J. Edward Ketz

Engels
Hardcover
9780471433767
30 juli 2003
298 pagina's

Alle productspecificaties

Samenvatting

Enron's fall has opened the eyes of the public to corporate accounting fraud as no other event has done, and there is now a need for better understanding of what can be done to prevent it. This book examines methods for off-balance sheet accounting, with a particular emphasis on special purpose entities (SPE).

What went wrong and how to fix it

"This is a book that well represents the skeptical, probing, and doubting spirit of the time. Professor Ketz explores the ways corporate management and auditors can 'spin' financial reporting to misinform investors. It is written so that the individual investor can grasp the ideas but will be useful for investment analysts and audit committee members who need a lively briefing in how to spot questionable accounting."
—John H. Biggs
Former chairman and Chief Executive Officer
TIAA - CREF

"Ed Ketz brilliantly illustrates how the improper application of accounting rules misleads users of financial statements. This book is an indispensable resource and greatly enhances one’s understanding of the many obscure footnotes found in today’s financial statements."
—Albert Meyer
2nd Opinion Research, Plano, TX

It is now painfully clear that "earnings management" has managed little, other than some short-term gain for a handful of managers and a long-term catastrophic erosion of the public faith in financial reporting. But it is not too late for the accounting industry to turn back from the brink. Edward Ketz lays out several specific problems in the financial reporting arena, describes how the system failed to correct any of these problems, and suggests a compelling course of action for improvement in Hidden Financial Risk: Understanding Off-Balance Sheet Accounting.

Chapter by chapter, Ketz explains how firms hide debt using:

The equity method
Lease accounting
Pension accounting
Special Purpose Entities

and then illustrates the failures of directors, auditors, regulators, and investors to detect and eliminate these tools of deception. He concludes by drawing upon his thirty years’ experience to propose how the industry can learn to identify fraud and ultimately restore investor confidence. Executives, accountants, and individual and institutional investors will find Hidden Financial Risk to be a powerful examination of the present, shifting accounting landscape.

An insider's guide to understanding and eliminating accounting fraud
How do these high-profile accounting scandals occur and what could have been done to prevent them. Hidden Financial Risk fills that void by examining methods for off balance sheet accounting, with a particular emphasis on special purpose entities (SPE), the accounting ruse of choice at Enron and other beleaguered companies. J. Edward Ketz identifies the incentives for managers to deceive investors and creditors about financial risk and also shows investors how to protect their investments in a world filled with accounting and auditing frauds.
J. Edward Ketz, PhD (State College, PA) is MBA Faculty Director and Associate Professor of Accounting at Penn State's Smeal College of Business. He has been cited in the press nearly 300 times since Enron's bankruptcy, including The New York Times, The Wall Street Journal, and The Washington Post.. He has a regular column in Accounting Today.

Productspecificaties

Inhoud

Taal: en
Bindwijze: Hardcover
Oorspronkelijke releasedatum: 30 juli 2003
Aantal pagina's: 298
Illustraties: Nee

Betrokkenen

Hoofdauteur: J. Edward Ketz
Hoofduitgeverij: Onbekend

Overige kenmerken

Editie: New title
Extra groot lettertype: Nee
Product breedte: 184 mm
Product hoogte: 28 mm
Product lengte: 260 mm
Studieboek: Nee
Verpakking breedte: 184 mm
Verpakking hoogte: 25 mm
Verpakking lengte: 267 mm
Verpakkingsgewicht: 780 g

EAN

EAN: 9780471433767

Je vindt dit artikel in

Categorieën: Mens & Maatschappij

Economie & Financiën

Financien & Boekhouding

Misdaad & Criminaliteit

Accounting

Boeken
Taal: Engels
Studieboek of algemeen: Algemene boeken
Boek, ebook of luisterboek?: Boek
Beschikbaarheid: Leverbaar

Reviews

Nog geen reviews

Hoe controleren en plaatsen wij reviews? Hoe controleren en plaatsen wij reviews?

Negatief, positief, neutraal: we zetten een review altijd online. We controleren wel eerst of ’ie voldoet aan onze reviewvoorwaarden en niet nep is. We controleren ook of ’ie is geschreven door iemand die het artikel heeft gekocht via bol.com en zetten dit er dan bij. De controles gebeuren automatisch, al kijken er soms mensen mee. Bol.com betaalt niet voor reviews. Als een reviewer door een andere partij is vergoed, staat dit in de review zelf.