Indecent Disclosure captures the anguish the commercial public experiences when the misleading financial disclosures of some public corporations lead to an unexpected collapse. Here, the authors pursue four main themes as underpinning the crisis in companies' financial disclosures. First, companies' compliance with the accounting standards does not produce financial statements that disclose their wealth and financial progress; second, misleading financial statements are more the result of compliance with the accounting rules with the best of intentions, than from the deviation from them with the intent to mislead; third, the raft of knee-jerk corporate governance mechanisms imposed following the recent corporate shenanigans are more directed at appearances than rectifying malpractice; and fourth, there is increasing evidence that the current group structures in which corporate activities are arranged are incapable of effective regulation. Here those themes are explained, explored, and illustrated, within the framework of an agenda for true, effective reform.
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Book Description
Editorial Reviews
Book Description
Against the background of the collapses of HIH, One.Tel, Enron and the like, Indecent Disclosure captures the anguish the commercial public experiences as a result of public corporations' misleading financial disclosures - especially when an unexpected corporate collapse occurs. Here the authors present alternative solutions to the problem of 'unexpected' failures.
About the Author
Frank Clarke, PhD, BEc (Syd.), is Emeritus Professor of Accounting at the University of Newcastle, and Honorary Professor of Accounting at the University of Sydney.
Graeme Dean, MEC, FCPA, TIA, is Professor of Accounting, and formerly Head of Discipline of Accounting and Business Law, School of Business at the University of Sydney.
Graeme Dean, MEC, FCPA, TIA, is Professor of Accounting, and formerly Head of Discipline of Accounting and Business Law, School of Business at the University of Sydney.
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5.0 out of 5 stars
Indecent Disclosure: Gilding the Corporate Lily,
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This review is from: Indecent Disclosure: Gilding the Corporate Lily (Paperback)
This book challenges a number of accepted concepts inherent in the world of commercial dealings. Two of which, are argued particularly well in the book; the first is the current over emphasis of corporate governance the second is the absurdity of consolidated accounting.For those interested in why the latest actions by the corporate regulators and legislators are unlikely to to bring an end to spectacular corporate collapses in the future the book is a must read.
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Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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accounting standards, class order deed, separate legal entity principle, deed usage, deed driver, indecent disclosure, accounting misstatements, consolidation accounting, voluntary administration, aggregative data, underlying net assets, capital boundary, asset backing, corporate governance regimes, cross guarantee, separate financial statements, consolidated data, corporate collapse, conventional accounting, consolidation techniques Key Phrases - Capitalized Phrases (CAPs): (learn more)
James Hardie, Bond Corporation, Waste Management, Air New Zealand, Corporations Act, Arthur Andersen, Bell Group, Companies Act, Lang Corporation, Bell Resources, Corporations Law, Alan Bond, Unanswered Total, Patrick Stevedores, Pty Ltd, Samuel Insull, Royal Mail, Royal Commission, Company Officer Responses Yes No Don't, Fannie Mae, Australian Government, Justice Owen, Ramsay Report, World War, September Transactions New!
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Front Cover | Table of Contents | First Pages | Index | Surprise Me!
accounting standards, class order deed, separate legal entity principle, deed usage, deed driver, indecent disclosure, accounting misstatements, consolidation accounting, voluntary administration, aggregative data, underlying net assets, capital boundary, asset backing, corporate governance regimes, cross guarantee, separate financial statements, consolidated data, corporate collapse, conventional accounting, consolidation techniques Key Phrases - Capitalized Phrases (CAPs): (learn more)
James Hardie, Bond Corporation, Waste Management, Air New Zealand, Corporations Act, Arthur Andersen, Bell Group, Companies Act, Lang Corporation, Bell Resources, Corporations Law, Alan Bond, Unanswered Total, Patrick Stevedores, Pty Ltd, Samuel Insull, Royal Mail, Royal Commission, Company Officer Responses Yes No Don't, Fannie Mae, Australian Government, Justice Owen, Ramsay Report, World War, September Transactions New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
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