Hidden somewhere among all the numbers in a financial report is vitally important information about where a company has been and where it is going. This is especially relevant in light of the current corporate scandals. The sixth edition of this bestselling book is designed to help anyone who works with financial reports–but has neither the time nor the need for an in-depth knowledge of accounting–cut through the maze of accounting information to find out what those numbers really mean.
Book Details:
- Author: John A. Tracy
- ISBN: 9780470354759
- Year Published: 2004
- Pages: 216
- BISAC: BUS027000, BUSINESS & ECONOMICS/Finance
About the Book and Topic:
Hidden somewhere among all the numbers in a financial report is vitally important information about where a company has been and where it is going. This is especially relevant in light of the current corporate scandals. The sixth edition of this bestselling book is designed to help anyone who works with financial reports–but has neither the time nor the need for an in-depth knowledge of accounting–cut through the maze of accounting information to find out what those numbers really mean.
The last edition of this book was published in 1999.
NEW EDITION TO A HIGHLY SUCCESSFUL TITLE: Fifth edition has sold more than 75,000 copies, in trade and college. COMPLETE COVERAGE OF PROPOSED NEW ACCOUNTING LAWS: As a result of the Enron collapse and Arthur Andersen scandals, there have been calls from both industry insiders and members of Congress to overhaul the requirements and workings of financial reporting. The Sarbanes-Oxley Act of 2002 sets forth new rules on what accounting firms can and cannot do with regard to audit reports and their work for companies. This is particularly important because accounting firms will not be able to provide “non-audit” or consulting services except under carefully prescribed circumstances. SEC RULING ON ACCOUNTING FIRMS: The SEC is working on major new restrictions that would impact accounting firms. The SEC proposal would prohibit an auditor from auditing its own work; performing management functions or act as an advocate for clients. OTHER IMPORTANT REVISIONS: Other important discussions will cover the new public accounting oversight board, the impact of Enron, Tyco and other scandals on financial reporting.
About the Author
John A. Tracy is a well-established author for Wiley, starting with a financial accounting textbook in 1974. His trade title How to Read a Financial Report, now in its fifth edition, has been particularly successful. Tracy has also written the best-selling Accounting for Dummies, the second edition of which was released in January 2001. He has served as a staff accountant with Ernst & Young and has taught Accounting at the University California at Berkely and at the University of Colorado at Boulder where he was on the faculty for 35 years. Tracy has also served on the board of directors of a bank, and he has taught executive development programs.