Description: In analyzing contemporary financial accounting, this book expertly provides a user-oriented guide to the salient issues affecting this field.
Review Quotes:
'The author engages directly with his readers and other authors throughout by challenging them in the most forthright manner at every turn to evaluate the merits of his arguments, to work out for themselves whether and why they agree or disagree with them ... the book clearly has a valuable role ... [and] should also be required reading for standard setters and their staff.' Accounting Review
'Against the background of the largest corporate and financial reporting failures in business history, Paul Rosenfield has written a profoundly insightful and deeply thought provoking critique of contemporary financial reporting principles, standards and practices. Having spent a professional lifetime in studying those matters in leading roles at the AICPA and as the first full-time secretary of the International Accounting Standards Committee, Rosenfield is exceedingly well placed to write such a work. It is a welcome beacon in a literature replete with intellectually barren texts that are primarily descriptive - and endorsing - of conventional accounting standards and practice... This is a timely 'must read' for corporate regulators, accounting and auditing standard setters, and all who profess to be thoughtfully engaged with financial accounting and auditing. It will charge the thought leader and unnerve the conventionalist.' Journal of Accountancy