Financial Accounting in an Economic Context - Hardcover

Pratt, Jamie

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9780470128824: Financial Accounting in an Economic Context

Hardcover

ISBN 10: 0470128828 ISBN 13: 9780470128824

Publisher: Wiley, 2008

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A valuable resource for any business professional, this book shows how performance metrics available from the financial statements, shareholder value creation, and the firm's market value are all tied together. It also explores earnings management, including the use of discretion by management in the preparation of the financial statements to cast a favorable picture of the financial performance and condition of the firm. Readers will then delve more deeply into the methods used to account for operating, investing, and financing transactions.

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From the Back Cover:

Discover the keys to creating long-term shareholder value.

The goal of every successful manager is to generate the best return on equity possible— creating, in turn, long-term value for shareholders. The tools of every good manager are a thorough understanding of economic factors, measurement issues, and the principles of decision making.

The integrative approach to accounting and finance found in Jamie Pratt’s Financial Accounting in an Economic Context, Seventh Edition helps you acquire these essential tools so you can make proper decisions based on a complete financial picture. And its real-world cases, rooted in today’s business environment, enable you to develop an intuitive grasp of the balance between economics, internal controls, international standards, and ethics in your decision making.

Keeping pace with the fast-changing business environment, this revised and updated edition adds new coverage of:

Developments in business such as private equity, the growing influence of International Financial Reporting Standards (IFRS), Sarbanes-Oxley, and the importance of internal controls
Return on equity (ROE) and its determinants
Legal liability, ethical issues, and management’s incentives and influence on financial reports
Earnings management, including the use of discretion by management in the preparation of the financial statements to cast a favorable picture of the financial performance and condition of the firm.

About the Author:

Jamie Pratt, PhD, is a KPMG Professor of Accounting at Indiana University. He has authored several articles as well as two other texts. Dr. Pratt currently serves as the secretary of the board for the Pratt Corporation and is on the Educational Advisory Committee of the American Accounting Association (AAA). He previously served in the capacity of program chair of the AAA, associate editor forThe Accounting Review, and various editorial boards.

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