Convergence Guidebook for Corporate Financial Reporting [Hardcover]

Bruce Pounder (Author)

Book Description

Publication Date: March 3, 2009 | ISBN-10: 0470285877 | ISBN-13: 978-0470285879 | Edition: 1

As a result of the global convergence of financial reporting standards, U.S. GAAP is changing profoundly. U.S. GAAP is also being abandoned by many public and private companies, and will eventually be replaced by a higher-quality set of global standards. The Convergence Guidebook for Corporate Financial Reporting provides the timely, practical guidance that CFOs, controllers, and other financial managers need in order to prepare for the impact of Convergence on their companies, departments, and careers. Guidebook readers will also learn why they must begin preparing for "the next big challenge in corporate financial reporting" now.

Editorial Reviews

Review

[T]his excellent new book ... tackles the total subject of IFRS convergence from the perspective of U.S. financial managers... Pounder tells you exactly what is going to be involved, what to do, and how to do it. --Strategic Finance, October 2009

"This guidebook for chief financial officers, vice presidents of finance, controllers, and managers of financial reporting and accounting explains apects related to the global convergence of financial reporting standards, including why the US generally accepted accounting principles (GAAP) have changed as a result, how to prepare for its challenges, how it will affect financial reporting and US labor markets for financial reporting talent, and how it will impact decision making." (Book News, August 2009)

"As he explains in his book, the Convergence Guidebook for Corporate Financial Reporting, both US GAAP and IFRS will change profoundly as the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board continue to converge the two sets of standards." (jobsinthemoney.com, May 2009)

From the Inside Flap

Everything you know about corporate financial reporting will become obsolete over the next ten years. Why? One word: Convergence. Written for those having managerial responsibility for the preparation of financial reports in accordance with U.S. generally accepted accounting principles (GAAP), the Convergence Guidebook for Corporate Financial Reporting will prepare chief financial officers, vice presidents of finance, controllers, managers of financial reporting, and managers of accounting for the many new challenges that are resulting from the global convergence of financial reporting standards.

Filled with timely, practical guidance on the immediate and ongoing effects of Convergence, this book features up-to-the-minute coverage of:

• What Convergence is and what it is not

• Why Convergence is happening

• How and why U.S. GAAP has changed and will continue to change as a result of Convergence

• How Convergence will alter U.S. labor markets for financial reporting talent

• The critical decisions and plans that managers must make in order to prepare their companies, their departments, and themselves for the growing impact of Convergence

• Expert advice on making and implementing critical decisions and plans in order to prevent Convergence from interfering with the attainment of company goals

• The adverse consequences of delaying preparations for the impact of Convergence

In the United States, both the FASB and SEC have embraced Convergence. The time to prepare for it is now, and the guide every financial manager needs to be ready is Convergence Guidebook for Corporate Financial Reporting, with its straightforward guidance on preparing for the disruptive changes in the U.S. financial reporting environment that Convergence will bring.

See all Editorial Reviews

Product Details

• Hardcover: 256 pages
• Publisher: Wiley; 1 edition (March 3, 2009)
• Language: English
• ISBN-10: 0470285877
• ISBN-13: 978-0470285879
• Product Dimensions: 6.5 x 1.1 x 9.4 inches
• Shipping Weight: 15.5 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #2,034,344 in Books (See Top 100 in Books)

More About the Author

Bruce Pounder is an internationally-recognized expert on corporate financial reporting and the global convergence of financial reporting standards. He is currently President of Leveraged Logic, a leader in the development and delivery of educational products and services for accounting and finance professionals.

Since founding Leveraged Logic in 1988, Bruce has presented accounting and finance seminars to thousands of professionals around the world. His seminar participants have come from the Financial Accounting Standards Board (FASB), the Securities & Exchange Commission (SEC), the Public Company Accounting Oversight Board (PCAOB), the Internal Revenue Service (IRS), each of the six largest global accounting firms, and many "Global 500" companies.

Prior to founding his firm, Bruce worked for several global companies including Eastman Kodak, IBM, and Exxon. Currently, he hosts "This Week in Accounting," a live webcast series.

Bruce's observations on financial reporting are regularly quoted in the media, including Accounting Today, American Executive Magazine, Area Development Magazine, Business Finance Magazine, Catalyst, CA Magazine, CFA Magazine, CFO Magazine, Compliance Week, Financial Week, Forbes.com, The Investment Professional, Investor Relations Newsletter, Merrill Lynch Perspectives Newsletter, Reuters, and Treasury & Risk Magazine. Bruce writes a monthly column for CFO.com, the monthly "Financial Reporting" column for Strategic Finance magazine, and occasional articles for online and print publications such as the Journal of Accountancy.

In addition to being a highly-regarded educator and author, Bruce has more than 20 years of practical experience as the Chief Financial Officer of a privately-held corporation. Over the same period, he has also served as a consultant to many public corporations (including The Coca-Cola Company, Quanex, and Fidelity National Financial), for whom he has provided expert advice on the design, development, and implementation of financial planning and reporting systems.

Bruce is a Certified Financial Manager (CFM) and a Certified Management Accountant (CMA). In 2004, he earned the Johnson & Johnson Gold Medal for attaining the highest score in the world on the CFM examination, and the Procter & Gamble Silver Medal for attaining the second highest score on the CMA examination.

Bruce holds a Bachelor's degree summa cum laude from Syracuse University, an MBA from Rice University, and a Diploma in International Financial Reporting from the Association of Chartered Certified Accountants.