Description
Interpreting Company Reports and Accounts guides the reader through the conventions and complexities of company accounts, explaining how to assess the financial and trading position of a company from year to year, how to spot undue risk taking and ‘‘cosmetic accounting’’ and where to look for clues on the quality of management.
Packed with interesting real world examples, this is a highly practical book which shows readers how to analyse company reports and accounts, both qualitatively and quantitatively. The analysis is illustrated with over 200 extracts/examples from published accounts
Features
- Key points from company accounts are highlighted and explained throughout the book.
- Each topic chapter examines the implications of adopting IFRS
- The chapter 'Putting it all together' takes readers step by step through the reports, accounts and press cuttings of an AIM company.
- The authors comment as well as inform - previous editions highlighted the serious weaknesses of both Polly Peck and Maxwell Communications Corporation well ahead of their collapse.
New to this Edition
Explains the key differences between UK GAAP and IFRS Analyses how companies present the impact of the transition from UK GAAP to IFRS Coverage of small and medium-sized entities (SMEs) reporting Includes recent developments in narrative reporting: Operating and Financial Review Developments; Business Review; and Corporate Social Responsibility Reporting Table of Contents
Preface
Publisher's acknowledgements
Chapter 1 - Overview of the regulatory scene
Chapter 2 - International Financial Reporting Standards (IFRS) overview
Chapter 3 - Accounting principles
Chapter 4 - The annual report
Chapter 5 - Chairman's statement and the operating and financial review
Chapter 6 - Corporate governance and the auditors' report
Chapter 7 - The profit and loss account: overall structure
Chapter 8 - The profit and loss account: turnover and revenue recognition
Chapter 9 - The profit and loss account: further disclosure areas
Chapter 10 - The profit and loss account: interpretation, ratio analysis, segmental analysis and earnings per share
Chapter 11 - Equity statements, dividends and prior period adjustments
Chapter 12 - Balance sheet: an introduction
Chapter 13 - Tangible fixed assets
Chapter 14 - Intangible fixed assets
Chapter 15 - Fixed asset investments
Chapter 16 - Stocks and long-term contracts
Chapter 17 - Debtors and other receivables
Chapter 18 - Current asset investments; cash at bank and in hand
Chapter 19 - Creditors and provisions
Chapter 20 - Tax in the balance sheet
Chapter 21 - Bank loans and overdrafts
Chapter 22 - Loan capital
Chapter 23 - Derivatives and other financial instruments
Chapter 24 - Equity share capital and reserves
Chapter 25 - Balance sheet disclosures
Chapter 26 - Cash flow statements
Chapter 27 - Financial Reporting for SMEs (small and medium-sized entities)
Chapter 28 - Group accounts, acquisitions and mergers
Chapter 29 - Joint ventures, associates and foreign operations
Chapter 30 - Historical summaries, ratios and trends
Chapter 31 - Inflation
Chapter 32 - Half-yearly reports (Interim reports)
Chapter 33 - UK GAAP and IFRS compared
Chapter 34 - Adopting IFRS for the first time
Chapter 35 - Putting it all together
Appendix 1 UK GAAP: Current Financial Reporting Standards and Exposure Drafts
Appendix 2 International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS)
Appendix 3 Useful website addresses
Appendix 4 Present value
Appendix 5 Retail Price Indices since 1950
Index
Back Cover
Interpreting Company Reports and Accounts
Tenth Edition
Geoffrey Holmes, Alan Sugden and Paul Gee
The tenth edition of Interpreting Company Reports and Accounts guides the reader through the many conventions and complexities of company accounts, explaining how to assess the financial and trading position of a company from year to year, how to spot undue risk-taking and 'cosmetic accounting', and where to look for clues on the quality of management.
This book is intended as a practical guide to the interpretation of reports and accounts. Frequent reference is made to the legal and accounting requirements in the UK, both as regards IFRS (International Financial Reporting Standards) and UK GAAP (UK Generally Accepted Accounting Practice). This is done in the context of interesting information to look out for, rather than how a set of accounts should be prepared.
Packed with relevant real world examples, this highly accessible book shows readers how to analyse company reports and accounts, both qualitatively and quantitatively. The analysis is illustrated with numerous published accounts extracts and examples and references to corporate websites
Key Features
- Key points from company accounts are highlighted and explained throughout the book.
- Each topic chapter examines the implications of adopting IFRS
- The chapter 'Putting it all together' takes readers step by step through the reports, accounts and press cuttings of an AIM company.
- The authors comment as well as inform - previous editions highlighted the serious weaknesses of both Polly Peck and Maxwell Communications Corporation well ahead of their collapse.
New to this edition:
- Explains the key differences between UK GAAP and IFRS
- Analyses how companies present the impact of the transition from UK GAAP to IFRS
- Coverage of small and medium-sized entities (SMEs) reporting
- Includes recent developments in narrative reporting: Operating and Financial Review Developments; Business Review; and Corporate Social Responsibility Reporting
Interpreting Company Reports and Accounts is suitable for intermediate or advanced undergraduate accounting and finance courses, as well as MBA courses. The book is recommended reading for several professional examinations and will also be highly relevant to practitioners.
Geoffrey Holmes FCA, FTII was, for more than 20 years, the highly regarded and much respected Editor of Accountancy, the Journal of the Institute of Chartered Accountants.
Alan Sugden is a Sloan Fellow of the London Business School and a retired director of Schroder Investment Management. He spent nearly 20 years in the City as an analyst and fund manager, running the £100 million Schroder Recovery Fund for several years.
Paul Gee BA (Econ) FCA is a member of the National Assurance Technical Group of Smith & Williamson , and lectures widely in the UK on financial reporting.
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