Financial Fine Print Uncovering a Company’s True Value phần 4 pot

... releases and financial reports need to maintain a healthy skepticism and accept no statement at face value, ” the Bear Stearns report warned. “Since [pro forma] earn- ings are almost always higher than ... charge. Rodgers has repeatedly advocated the creation of a pro forma accounting standards board, “chartered to make clear, consistent corrections to the GAAP statements.” 9 Financia...

Ngày tải lên: 10/08/2014, 11:20

... www.wiley.com. Library of Congress Cataloging-in-Publication Data Leder, Michelle. Financial fine print : uncovering a company’s true value / by Michelle Leder. p. cm. ISBN 0 -47 1 -43 347 -0 1. Corporations—Valuation. ... about a company’s real financial health. Details about many of the big corporate scandals that have domi- nated headlines in recent years and which ha...

Ngày tải lên: 10/08/2014, 11:20

... by passing the Sarbanes-Oxley Act in July 2002, and FASB and the SEC each issued rules designed to deal with off-balance sheet transactions in January 2003. For companies that are on a calendar ... sheet obligations? Because they can mask a company’s true financial condition, making it look stronger than it really is. Pushing debt and other obligations off the balance sheet changes...

Ngày tải lên: 10/08/2014, 11:20

... a real passion to avoid future financial fiascoes. As with Vivendi, many of the companies that have been tarred by accounting scandals in recent years—Enron, WorldCom, Adelphia, Tyco, and HealthSouth—all ... are the company’s revenue recog- nition policies and depreciation rates, two items that can have a c02.qxd 7/15/03 11:36 AM Page 30 Financial Fine Print 46 Given the growi...

Ngày tải lên: 10/08/2014, 11:20

... $ 6 ,47 4 $ 7,183 Earnings per share: Basic—as reported $ 2.10 $ 4. 45 $ 4. 58 Basic—pro forma $ 1 .40 $ 3. 74 $ 4. 07 Assuming dilution—as reported $ 2.06 $ 4. 35 $ 4. 44 Assuming dilution—pro forma $ ... options may be giving too much of the com- pany away. R ED F LAG c05.qxd 7/15/03 10:03 AM Page 74 Financial Fine Print 82 Almost all companies report two earnings per share nu...

Ngày tải lên: 10/08/2014, 11:20

... 11:39 AM Page 96 Financial Fine Print 1 04 actually declined. That make-believe gain shows up on the income statement and can make both net and operating income look better than they actually are. ... for those deals, management is basically saying that it doesn’t care what shareholders think. Companies that share details on how they arrived at a particular deal for an officer or a...

Ngày tải lên: 10/08/2014, 11:20

... company’s financial partner— a bank or other financial institution—creates an SPE to own a piece of property, say a new headquarters building for a company. The company is required to make annual ... theoreti- cally, the corporate tax rate is 35 percent, few companies actually c09.qxd 7/15/03 10:52 AM Page 142 Financial Fine Print 1 34 although presumably, as a partial...

Ngày tải lên: 10/08/2014, 11:20

... real lack of honesty plaguing corporate America. “There’s still a clear mentality in corporate America that they don’t want to make any changes,” says Turner, who after leaving the SEC in August ... in America,” notes former SEC Chairman Arthur Levitt. 12 That’s not the way things should be. We ought to be able to look at a company’s financial results and know that they haven’t been m...

Ngày tải lên: 10/08/2014, 11:20

... 192 bapp02.qxd 7/15/03 10:55 AM Page 1 74 FIN 46 , see also Debt, off-balance sheet Financial Accounting Standard (FAS), 87. See also Financial Accounting Standards Board (FASB), pensions Financial ... 163–1 64, 167 Management’s Discussion and Analysis, 10, 46 , 109, 120, 129, 131, 148 – 149 Notes to Consolidated Statements, xi–xii, 10, 12– 14, 17, 42 44 tracking changes, 28–29,...

Ngày tải lên: 10/08/2014, 11:20

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Ngày tải lên: 22/07/2014, 04:21