Quality of Earnings

Author: Thornton L. O'glove

Publisher: Simon and Schuster

ISBN: 0684863758

Category: Business & Economics

Page: 224

View: 4872


Tough-Minded Management 1st ed.

Author: Joe D. Batten

Publisher: Pickle Partners Publishing

ISBN: 1787207749

Category: Business & Economics

Page: 217

View: 3757

In this book (originally published in 1963) author J. D. Batten, at the time himself the Chairman of the Board of a management consulting and human resources firm in Iowa, imparts sound advice and tips to aid managers and management in their important task of improving their effectiveness at all levels. “The excellence of the book lies in the basic information it has to give to the relatively new manager.”—Personnel Psychology “Must reading for anyone who thinks all management books are just a rehash of planning, organizing, staffing, controlling, etc....Especially recommended...”—NRHA Magazine “A totally fresh description of how to turn MBO into a ‘living system’....practical and highly motivational.”—Buffalo Law Journal “Many useful suggestions to offer the executive.”—West Coast Review of Books

Earnings Quality

Author: Jennifer Francis,Per Olsson,Katherine Schipper

Publisher: Now Publishers Inc

ISBN: 1601981147

Category: Business & Economics

Page: 85

View: 9203

This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.

Financial Accounting for Management: An Analytical Perspective

Author: Ambrish Gupta

Publisher: Pearson Education India

ISBN: 8131797554


Page: 1008

View: 798

Financial Accounting for Management: An Analytical Perspective focuses on the analysis and interpretation of financial information for strategic decision making to enable students and managers to formulate business strategies for revenue enhancement, cost economies, efficiency improvements, restructuring of operations, and further expansion or diversification for creating and enhancing the shareholder's value. MBA, MFC and MBE students are its primary audience but its practical orientation will also be useful to corporate sector managers and CA, CWA, CS, CFA and CAIIB students.

The New CFO Financial Leadership Manual

Author: Steven M. Bragg

Publisher: John Wiley & Sons

ISBN: 9780470563526

Category: Business & Economics

Page: 456

View: 3207

Filled with pragmatic insights, proactive strategies, and best practices, The New CFO Financial Leadership Manual, Second Edition is destined to become your essential desktop companion. This thorough guidebook is essential reading for the CFO requiring an overview of strategies, measurement and control systems, financial analysis tools, funding sources, and management improvement tips.

Accounting for Non-accountants

The Fast and Easy Way to Learn the Basics

Author: Wayne Allan Label

Publisher: Sourcebooks, Inc.

ISBN: 1402206577

Category: Business & Economics

Page: 226

View: 5375

A guide for businesspeople covers such essentials as financial statements, balance sheets, liabilities, assets, and income statements.

Line-Item Analysis of Earnings Quality

Author: Nahum D. Melumad,Doron Nissim

Publisher: Now Publishers Inc

ISBN: 1601982127

Category: Business & Economics

Page: 148

View: 6519

Line-Item Analysis of Earnings Quality provides a comprehensive summary and analysis of the specific earnings quality issues pertaining to key line item components of the financial statements. After providing an overview of earnings quality and earnings management, Line-Item Analysis of Earnings Quality analyzes key line items from the financial statements. For each key line item, the authors: review accounting principles discuss implications for earnings quality evaluate the susceptibility of the item to manipulation describe analyses and red flags which may inform on the item's quality Line-Item Analysis of Earnings Quality will prove useful in conducting fundamental and contextual analyses through its analysis and evaluations"

Valuation Techniques

Discounted Cash Flow, Earnings Quality, Measures of Value Added, and Real Options

Author: David T. Larrabee,Jason A. Voss

Publisher: John Wiley & Sons

ISBN: 1118417607

Category: Business & Economics

Page: 624

View: 3476

Analysis and insights from top thought leaders on a pivotal topic in investing and asset management Valuation is the cornerstone for investment analysis, and a thorough understanding and correct application of valuation methodologies are critical for long-term investing success. Edited by two leading valuation experts from CFA Institute, this book brings together the insights and expertise of some of the most astute and successful investment minds of the past 50 years. From Benjamin Graham, the “father of value investing,” to Aswath Damodaran, you’ll learn what these investment luminaries have to say about investment valuation techniques, including earnings and cash flow analysis. Features the best thinking on valuation from the industry’s masters on the topic, supplemented with dozens of fascinating and instructive real-world examples Comprehensively discusses special valuation situations, such as real options, employee stock options, highly leveraged firms, corporate takeovers, and more Supplies you with the tools you need to successfully navigate and thrive in the ever-changing financial markets Is being produced with the full support and input of CFA Institute, the world’s leading association of investment professionals

It's Earnings That Count

Author: Hewitt Heiserman

Publisher: McGraw Hill Professional

ISBN: 0071542477

Category: Business & Economics

Page: 210

View: 6938

An innovative way to see through a company's published numbers to discover its true investment potential This book gives you a blueprint for finding a great growth stock for the next decade without taking on a lot of risk in the process. Inspired by the writings of Benjamin Graham, It's Earnings That Count examines a firm’s earnings quality from the perspective of a “defensive” investor who wants to avoid committing ruinous mistakes as well as the “enterprising” investor who seeks Wall Street’s next great opportunities. Unfortunately, as recent market history has shown, the traditional income statement is ill-suited to meeting the needs of these sometimes opposing viewpoints. As a result, investors can buy shares of a seemingly profitable company that, in fact, has poor earnings quality. However, the author’s trademarked Earnings Power Chart combines Graham’s two personalities to reveal, in picture form, whether a company possesses authentic earnings power for long-term growth. Using the world-famous William Wrigley Jr. Company gum-maker as a case study, you will learn how to build these two alternate profit-and-loss statements to protect yourself. Since this book is written in plain English, you do not need to be an MBA or accountant to follow these step-by-step instructions. Giving investors the tools they need to turn the tables in their favor, It's Earnings That Count covers: The four limitations of the income statement found in every annual report, 10-K, and 10-Q A quick-hitting, five minute test to sift out the obvious losers so you can save time and focus on analyzing potential winners How to spot when a company is forging an Earnings Power Staircase—that’s your hallmark of a low-risk growth stock like Microsoft and Paychex Why the charts of Lucent Technologies, WorldCom, Enron, and Tyco signaled trouble ahead of traditional income statement. The 2 earnings power ratios you need before making your next investment 12 ways to check whether management’s interests are aligned with yours A list of 15 items to check for to make sure the companies in your stock portfolio have a competitive advantage. (Hint: Great growth stocks always have competitive advantages.) 16 kinds of companies to avoid 20 indicators that it may be time to sell

Creative Cash Flow Reporting

Uncovering Sustainable Financial Performance

Author: Charles W. Mulford,Eugene E. Comiskey

Publisher: John Wiley & Sons

ISBN: 0471714410

Category: Business & Economics

Page: 432

View: 2088

Successful methodology for identifying earnings-related reporting indiscretions Creative Cash Flow Reporting and Analysis capitalizes on current concerns with misleading financial reporting on misleading financial reporting. It identifies the common steps used to yield misleading cash flow amounts, demonstrates how to adjust the cash flow statement for more effective analysis, and how to use adjusted operating cash flow to uncover earnings that have been misreported using aggressive or fraudulent accounting practices. Charles W. Mulford, PhD, CPA (Atlanta, GA), is the coauthor of three books, including the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices. Eugene E. Comiskey, PhD, CPA, CMA (Atlanta, GA), is the coauthor of the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices.


Tools for Business Decision Makers

Author: Paul D. Kimmel,Jerry J. Weygandt,Donald E. Kieso

Publisher: John Wiley & Sons

ISBN: 0470534788

Category: Business & Economics

Page: 1360

View: 9634

With this fourth edition, accountants will acquire a practical set of tools and the confidence they need to use them effectively in making business decisions. It better reflects a more conceptual and decision-making approach to the material. The authors follow a "macro- to micro-" strategy by starting with a discussion of real financial statements first, rather than starting with the Accounting Cycle. The objective is to establish how a financial statement communicates the financing, investing, and operating activities of a business to users of accounting information. This motivates accountants by grounding the discussion in the real world, showing them the relevance of the topics covered to their careers.

The Interpretation of Financial Statements

The Classic 1937 Edition

Author: Benjamin Graham,Spencer Meredith

Publisher: Harper Collins

ISBN: 0887309135

Category: Business & Economics

Page: 144

View: 6705

"All investors, from beginners to old hands, should gain from the use of this guide, as I have." From the Introduction by Michael F. Price, president, Franklin Mutual Advisors, Inc. Benjamin Graham has been called the most important investment thinker of the twentieth century. As a master investor, pioneering stock analyst, and mentor to investment superstars, he has no peer. The volume you hold in your hands is Graham's timeless guide to interpreting and understanding financial statements. It has long been out of print, but now joins Graham's other masterpieces, The Intelligent Investor and Security Analysis, as the three priceless keys to understanding Graham and value investing. The advice he offers in this book is as useful and prescient today as it was sixty years ago. As he writes in the preface, "if you have precise information as to a company's present financial position and its past earnings record, you are better equipped to gauge its future possibilities. And this is the essential function and value of security analysis." Written just three years after his landmark Security Analysis, The Interpretation of Financial Statements gets to the heart of the master's ideas on value investing in astonishingly few pages. Readers will learn to analyze a company's balance sheets and income statements and arrive at a true understanding of its financial position and earnings record. Graham provides simple tests any reader can apply to determine the financial health and well-being of any company. This volume is an exact text replica of the first edition of The Interpretation of Financial Statements, published by Harper & Brothers in 1937. Graham's original language has been restored, and readers can be assured that every idea and technique presented here appears exactly as Graham intended. Highly practical and accessible, it is an essential guide for all business people--and makes the perfect companion volume to Graham's investment masterpiece The Intelligent Investor.

Asian Financial Statement Analysis

Detecting Financial Irregularities

Author: ChinHwee Tan,Thomas R. Robinson

Publisher: John Wiley & Sons

ISBN: 1118486528

Category: Business & Economics

Page: 192

View: 4151

The Asian region, and particularly China, is becoming a hotbed of investment activity. There have been quite a few accounting scandals in Asia in the recent years rivaling those in the Americas and Europe. Assessing potential or active overseas investments requires reliance on financial statements, the full parameters of which may vary from region to region. This book provides the framework necessary to understand these financial statements and to detect irregularities. Topics covered include: detection of irregularities independent of particular accounting rules; the most common irregularities in the Asian market; similarities and differences between U.S. and Asian accounting techniques; and an overarching framework for irregularity detection. The book uses real-world examples with the focus on Asian companies to illustrate the concepts presented.--Edited summary from book.

The Art of Short Selling

Author: Kathryn F. Staley

Publisher: John Wiley & Sons

ISBN: 9780471146322

Category: Business & Economics

Page: 288

View: 6465

Explains the advantages and disadvantages of short selling and tells how to examine financial statements and balance sheets to determine which companies are likely candidates