| |||||||||||||||
 Trade In this Item for up to £15.15
Get an extra £5 when you trade in books worth £10 or more until June 30, 2012. Trade in Accounting for Financial Instruments for an Amazon.co.uk gift card of up to £15.15, which you can then spend on millions of items across the site. Trade-in values may vary (terms apply). Find more products eligible for trade-in.
|
Frequently Bought Together
Product details
|
More About the Author
Product Description
Product Description
This practical book shows how to deal with the complicated area of accounting of financial instruments. Containing a huge number of sophisticated worked examples, the book treats this complex subject in a way that gives clear guidance on the subject. In an introductory, controversial overview of the subject, the book highlights the mistakes that both auditing firms and the accounting standard setters are making, and demonstrates the contribution the International Financial Reporting Standards have made to the current credit crisis.
From the Inside Flap
"Cormac skilfully covers the accounting for derivatives and hedging activities in a clear and succinct manner. This book provides a firm basis for understanding the strengths and shortcomings of the current standards on financial instruments, highlighting them with a good number of real life examples. This is one of the few accounting books available on the market that make a complex and dry subject understandable and even enjoyable. "
Juan Ramirez, BNP Paribas, author of ‘Accounting for Derivatives’
‘Cormac Butler has written a very timely book, with fair value accounting being heavily criticised as a major contributor to the recent banking crisis. More generally, accounting for complex instruments and practices such as securitisation is neither simple nor widely understood. This book is an extremely lucid and full account of the myriad of current practices, which explains why financial institutions can declare a range of profits in the same situation. Whilst covering a wide canvas, Cormac has also made the topic very readable with many interesting case–studies. I would strongly recommend this book to anybody wishing to understand how modern financial instruments are treated by the accountants.’
Richard Flavell, author of ‘Swaps and other Derivatives’.
Inside This Book
(Learn More)
Tag this product(What's this?)Think of a tag as a keyword or label you consider is strongly related to this product.
Tags will help all customers organise and find favourite items. |
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
What Other Items Do Customers Buy After Viewing This Item?
Customer Reviews
Most Helpful Customer Reviews
4 of 4 people found the following review helpful
Format:Hardcover
On the positive side it is IFRS book (unlike Ryan which is US GAAP centered) and it discusses major areas with numerous practical examples. Author also shares his opinions (sometimes subjective but representative of financial services accounting community and thus valuable) which make the book more lively.
Unfortunately book contains numerous mistakes that seriously undermine its value. Just several examples:
1. In the beginning author mentiones two measurement models: fair value and cost. He consistently calls amortised cost model just 'cost' yet later gives correct examples. There are three models: Fair value, cost and amortised cost.
2. Some phrases leave me, ex-auditor speechless: "... directors often force auditors to hide losses or recognise revenue prematurely, despite the accounting standards." Who forces whom? Yes, I do understand what author wanted to say. Why doesn't he just say it properly?
3. IFRS 3 does not deal with consolidations and does not define control. IAS 27 does.
4. More than once in the book (pp. 64, 76) IFRS 3 is called 'Share based payments'. IFRS 3 is about 'Business Combunations' (M&A) and IFRS 2 regulates 'Share-based payments'.
I don't think that full list of mistakes should be included in this review but above mentioned should give the impression about the quality. I believe that there is enough 'meat' in the book to justify its reading that's why I give it three stars. I sincerely hope that second edition will be much better.
Unfortunately book contains numerous mistakes that seriously undermine its value. Just several examples:
1. In the beginning author mentiones two measurement models: fair value and cost. He consistently calls amortised cost model just 'cost' yet later gives correct examples. There are three models: Fair value, cost and amortised cost.
2. Some phrases leave me, ex-auditor speechless: "... directors often force auditors to hide losses or recognise revenue prematurely, despite the accounting standards." Who forces whom? Yes, I do understand what author wanted to say. Why doesn't he just say it properly?
3. IFRS 3 does not deal with consolidations and does not define control. IAS 27 does.
4. More than once in the book (pp. 64, 76) IFRS 3 is called 'Share based payments'. IFRS 3 is about 'Business Combunations' (M&A) and IFRS 2 regulates 'Share-based payments'.
I don't think that full list of mistakes should be included in this review but above mentioned should give the impression about the quality. I believe that there is enough 'meat' in the book to justify its reading that's why I give it three stars. I sincerely hope that second edition will be much better.
Listmania!
Look for similar items by category
Look for similar items by subject
Feedback
- Would you like to update product info or give feedback on images?
- I am the Author, and I want to comment on my book.
- I am the Publisher, and I want to comment on this book.
|
