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|a10.1057/9780230595019|2doi
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|aUKPGM|beng|cUKPGM|dNOU
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|aAPTA
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14
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|aHF5636|b.M93 2009eb
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|a657|222
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1
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|aMyddelton, David Roderic.
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245 |
10
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|aMargins of error in accounting|h[electronic resource] /|cD.R. Myddelton.
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260 |
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|aBasingstoke [England] ;|aNew York:|bPalgrave Macimllan,|c2009.
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300 |
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|axiv, 171 p. ;|c22 cm.
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504 |
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|aIncludes bibliographical references (p. 155-158) and indexes.
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505 |
0
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|aAccounting rules -- Inputs and outputs -- Is too much expected of accounts? -- Quantifying margins of error -- Causes and types of error --Simple mistakes -- PART II: THE INTERIM-NESS OF ACCOUNTS -- Introduction -- Fixed assets - tangible -- Depreciation -- General -- Different methods -- Different assumptions about life and residual value -- Capitalising interest -- Current assets -- Stocks and work in progress -- Long-term contracts -- Stocks -- Trade debtors -- Liabilities -- Current -- Longer-term -- Sales revenue -- Revenue investments -- Research and development -- Staff training -- Advertising -- Taxation -- Current -- Deferred tax -- Conclusions -- PART III: BASIS OF MEASUREMENT -- The purpose of accounts -- Realised and unrealised profits -- Technical aspects of Current Value accounting -- Operating gains and holding gains -- Replacement cost versus realisable value -- Implications of Current Value accounting -- Margins of error in b1 scurrent value b2 s -- Possibleimpact on reported profits -- Revaluation of tangible fixed assets -- Goodwill -- Cash and liquid resources -- Executive stock options -- Provision for pensions -- Discounting long-term liabilities -- Derivatives-- Conclusions -- PART IV: THE UNIT OF ACCOUNT -- Money and inflation -- Money -- Modern UKinflation -- The unit of account -- Impact on accounts -- Which index to use? -- Constant Purchasing Power accounting --Overview -- Losses (and gains) in respect of monetary assets (and liabilities) -- Fixed assets and depreciation -- Comparisons over time -- Lucas Industries plc. CPP accounts 1969-1994 -- Foreign currencies -- Conclusions -- PART V: ACCOUNTING PROFIT VERSUS ECONOMIC INCOME -- Economic income -- Capitalising future income -- Ex ante and ex post income -- Historical cost accounting profit versus economic income -- Interest on equity capital -- Calculating the cost -- Charging notional interest-- PART VI: CREATIVE ACCOUNTNG -- What is b1 screative accounting b2 s? -- Incentives and pressures on managers -- Profit and loss account -- Overstating profits -- Understating profits -- Balance sheet -- Overstating net assets -- Understating net assets -- Presentation and trends-- Politics -- Fraud -- Non-profit and small entities -- Conclusions -- PART VII: SPURIOUS ACCURACY -- Accounting -- The appearance of precision -- Preparers b2 s exaggeration -- Calendar problems -- Finance -- Stock market level -- Earnings per share -- Cost of capital -- Valuing equity shares -- Measuring gearing -- Economics -- Prices -- National income -- Miscellaneous -- PART VIII: NEAR ENOUGH -- Accounting -- Sports-- Football -- Cricket -- Other sports -- Weather -- Political elections --Miscellaneous -- Weights and measures -- Transport -- Medicine --Cooking -- Back to accounting -- PART IX: CONCLUSIONS -- Introduction -- Interim-ness -- Basis of measurement -- The unit of account -- Accounting profit versus economic income -- Creative accounting -- Spurious accuracy -- Near enough -- Misreporting profit -- Preventing avoidable error.
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|aThis original and readable book by an acknowledged expert discusses four main reasons why published company accounts cannot be completely 'accurate': the 'interim-ness' of annual accounts; the growing use of hypothetical current value estimates; the impact of cumulative inflation on financialstatements using money as the unit of account; and creative accounting by managers. The book attempts to quantify the extent of these errors wherever possible - some of them are very large indeed. There is also a chapter on spurious accuracy, why it persists and why it matters.
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|aElectronic reproduction.|bBasingstoke, England :|cPalgrave Macmillan,|d2009.|nMode of access:World Wide Web.|nSystem requirements: Web browser.|nTitle from title screen (viewed on Mar. 3, 2009).|nAccess may berestricted to users at subscribing institutions.
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0
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|aAccounting.
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650 |
0
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|aErrors.
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655 |
7
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|aElectronic books.|2local
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|aPalgrave Connect (Online service)
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776 |
1
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|cOriginal|z9780230219915|z0230219918|w(DLC) 2008037606|w(OCoLC)244417139
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809 |
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|pEB|dHF5636|eM995|y2009
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856 |
40
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|3Palgrave Connect
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856 |
40
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|3Palgrave Connect|uhttp://www.palgraveconnect.com/doifinder/10.1057/9780230595019|zaccess to fulltext (Palgrave)
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