Mark-to-market Accounting: 'True North' in financial reporting (Routledge New Works in Accounting History) by W. Schuetze
Publisher: Routledge | Number Of Pages: 224 | Publication Date: 2003-12-19 | ISBN-10: 0415299551 | PDF | 1 Mb
This thought-provoking and immensely readable collection of articles, speeches and letters by Walter Schuetze, one of the world's most distinguished accounting practitioners, is a work for our time.
In the wake of the largest surprise corporate failures and retrospective financial restatements in corporate history, Walter Schuetze, and Peter Wolnizer (as editor) turn their attention to what they call the syndrome of 'Enronitis'.
They contend that they unheralded collapse of companies such as Enron and WorldCom in the USA, and HIH Insurance in Australia, shows the failure of conventional accounting and auditing practices to provide high quality financial information for investors as intended by law. It is little wonder, therefore, that public confidence in financial reporting, auditing and corporate regulation is at an all time low.