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Accounting for Growth: Stripping the Camouflage from Company Accounts [Hardcover]

Terry Smith
4.8 out of 5 stars  See all reviews (6 customer reviews)

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Book Description

19 Aug 1992
Based on the award-winning "City Report" by UBS Phillips and Drew, this is an alarming book which shows up the methods developed by accountants during the 1980s in order to be able to report continuous growth in earnings per share - profit. But accounts drawn up in this way give an entirely false picture of a company's health, and in fact, many of the firms which employed these methods subsequently went bust. The author of this book argues that it is time for attention to refocus on balance sheet movement, divided potential and above all, cash, if readers and investors are to have an accurate picture of how companies are really performing.

Product details

  • Hardcover: 224 pages
  • Publisher: Random House Business Books (19 Aug 1992)
  • Language: English
  • ISBN-10: 0712652809
  • ISBN-13: 978-0712652803
  • Product Dimensions: 23.2 x 15 x 2.4 cm
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Bestsellers Rank: 1,036,013 in Books (See Top 100 in Books)

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Customer Reviews

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Most Helpful Customer Reviews
8 of 8 people found the following review helpful
By A Customer
What makes this book special is the fact that Terry Smith actually names names and shows real, recent examples of creative accounting used by many large household names. He explains the effects of the changes in policy clearly and follows this through with examples from the published accounts. Although technical, it is easy to read and presented in a format which allows it to be understood by people from non-technical backgrounds. It is not a 'school' book but I have recommened it as reading for some of my brighter A level students who wish to follow a course in accounting.
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10 of 11 people found the following review helpful
By A Customer
Terry Smith's book created a huge stir in the accountancy community when it was first publised in 1992. It told everyone what accountants had known for years: how companies manipulate their profits.
In this new edition, Terry Smith updates his earlier work to include and comment on many of the changes in UK accounting regulations since 1992.
Although the book is billed as a laymans guide to accountancy, I was very glad to be a trained accountant when reading it: you will have difficulty if you have no knowledge of how company accounts work. Having said that, it is not a technical book.
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9 of 10 people found the following review helpful
5.0 out of 5 stars Pulling back the curtain 9 Jan 2001
By A Customer
A useful book for any investor. Provides an shocking picture of the worst effects of creative accounting.
However, do bear in mind that there are a few things outdated now by new FRS standards.
An updated edition please!
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