num_pages: 250
description: Profits You Can Trust gives managers directors lenders audit partners and analysts a clear framework to demystify global financial reporting in a market fraught with danger. Filled with provocative and enlightening examples it offers a fresh perspective and clear guidance for everyone involved withfinancial reporting strategy and communication as well as specific and easily understood questions that must be asked to avoid accounting landmines that can destroy even the most successful business. The authors begin with an overview of the challenges of financial literacy for business decision-makersoperating in both U.S. and global environments the reasons decision-makers tacitly conspire to inflate stated revenues and reduce stated costs and how small lies inevitably lead to bigger ones. Next using easy-to-understand examples they discuss six key accounting minefields in detail. These includerevenue recognition; provision for uncertain future costs; asset values; risk management and the use of derivatives; related party transactions; and performance benchmarking. Finally they turn to the key questions and lessons arising from recent financial scandals including accounting firm conflict ofinterest; why Generally Accepted Accounting Practices aren't always sufficient; assessing mergers acquisitions and restructuring reserves; and the appropriate role of non-financial measurements such as balanced scorecards.
language: English
title: Profits You Can Trust: Spotting & Surviving Accounting Landmines
publisher: Ft Pr