Summary of The ValueReporting Revolution

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The ValueReporting Revolution book summary
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Rating

9 Overall

9 Applicability

10 Innovation

8 Style

Recommendation

The words “compelling” and “accounting” are seldom used in tandem, but there is no other way to describe this call to arms written by a former Harvard Business School professor and three accountants from PricewaterhouseCoopers. The book, which is framed as a manifesto for change in the world of corporate reporting, is written in un-accountant-like language bordering on the subversive. Its main message: Traditional corporate reporting practices are inadequate because they don’t capture the market information and the non-financial measures that drive value. Investors rely too heavily on short-term financial results, which contributes to unprecedented volatility in global equity markets. The authors’ remedy? Disclosure of more and better information. This new model is presented in such detail that executives could use it as a blueprint in building new corporate reporting regimens. But you needn’t be a corporate leader to appreciate the far-reaching implications of this book, which getAbstract recommends to all professionals as a – yes – compelling analysis of the current practice and evolving future of corporate reporting and its standards, pivotal benchmarks in the global economy.

In this summary, you will learn

  • Why lack of information in corporate reporting is partly at fault for market volatility;
  • What the “Earnings Game” is and why it leads to excessive stock price volatility, inaccurate valuations and overreliance on market gossip; and
  • Why better disclosure and proper corporate reporting will result in more long-term investment and higher stock values.
 

About the Authors

Robert G. Eccles is President of Advisory Capital Partners and a Senior Fellow of PricewaterhouseCoopers.Robert H. Herz is a Partner at PricewaterhouseCoopers based in the United States. E. Mary Keegan and David M. H. Phillips are Partners at PricewaterhouseCoopers based in the United Kingdom. “

 

Summary

You Say You Want a Revolution?
The discrepancy between the rapid advances in almost every global industry and the increasingly inadequate practices of corporate reporting is not the trivial concern of a few accountants. Its real repercussions are seen daily in the world’s equity markets...

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