The End of Accounting and the Path Forward for Investors and Managers

289 Pages·2016·4.4 MB·English

by  Baruch Lev

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The End of
Accounting and
The Path Forward
for Investors and
Managers
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The End of
Accounting and
The Path Forward
for Investors and
Managers
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BARUCH LEV
FENG GU
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Copyright©2016byBaruchLevandFengGu.Allrightsreserved.
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LibraryofCongressCataloging-in-PublicationData:
Names:Lev,Baruch,author.|Gu,Feng,1968-author.
Title:Theendofaccountingandthepathforwardforinvestorsandmanagers
/BaruchLev,FengGu.
Description:Hoboken,NewJersey:JohnWiley&Sons,Inc.,2016.|Series:
Wileyfinanceseries|Includesindex.
Identifiers:LCCN2016007850(print)|LCCN2016015075(ebook)|ISBN
9781119191094(hardback)|ISBN9781119190998(pdf)|ISBN9781119191087
(epub)
Subjects:LCSH:Financialstatements.|Investments—Decisionmaking.|
Finance.|BISAC:BUSINESS&ECONOMICS/Finance.
Classification:LCCHG4028.B2L492016(print)|LCCHG4028.B2(ebook)|DDC
332.63/2042—dc23
LCrecordavailableathttp://lccn.loc.gov/2016007850
CoverDesign:Wiley
CoverImage:©SergeyNivens/Shutterstock
PrintedintheUnitedStatesofAmerica
10987654321
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To Ilana, Eli, and Racheli
Rui, Elizabeth, and Isabella
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Contents
Acknowledgments xi
TheBookinaNutshell xiii
Prologue xxv
CHAPTER1
CorporateReportingThenandNow:ACenturyof“Progress” 1
CHAPTER2
AndYouThoughtEarningsAretheBottomLine 15
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PARTONE
MatterofFact 27
CHAPTER3
TheWideningChasmbetweenFinancialInformationandStockPrices 29
CHAPTER4
WorseThanatFirstSight 41
CHAPTER5
Investors’FaultorAccounting’s? 50
CHAPTER6
Finally,FortheStillUnconvinced 61
CHAPTER7
TheMeaningofItAll 67
vii
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