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Quality Of Earnings by Thornton L. O'glove

Title Quality of Earnings
Author Thornton L. O'glove
Publisher Simon and Schuster
Release Date 1998-10
Category Business & Economics
Total Pages 224
ISBN 9780684863757
Language English, Spanish, and French
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Book Summary:

Title Tough Minded Management 1st ed
Author Joe D. Batten
Publisher Pickle Partners Publishing
Release Date 2017-07-31
Category Business & Economics
Total Pages 217
ISBN 9781787207745
Language English, Spanish, and French
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Book Summary:

In this book (originally published in 1963) author J. D. Batten, at the time himself the Chairman of the Board of a management consulting and human resources firm in Iowa, imparts sound advice and tips to aid managers and management in their important task of improving their effectiveness at all levels. “The excellence of the book lies in the basic information it has to give to the relatively new manager.”—Personnel Psychology “Must reading for anyone who thinks all management books are just a rehash of planning, organizing, staffing, controlling, etc....Especially recommended...”—NRHA Magazine “A totally fresh description of how to turn MBO into a ‘living system’....practical and highly motivational.”—Buffalo Law Journal “Many useful suggestions to offer the executive.”—West Coast Review of Books

Earnings Quality by Elisa Menicucci

Title Earnings Quality
Author Elisa Menicucci
Publisher Springer Nature
Release Date 2019-12-21
Category Business & Economics
Total Pages 147
ISBN 9783030367985
Language English, Spanish, and French
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Book Summary:

This book provides an overview of earnings quality (EQ) in the context of financial reporting and offers suggestions for defining and measuring it. Although EQ has received increasing attention from investors, creditors, regulators, and researchers in different areas, there are various definitions of it and different approaches for its measurement. The book describes the relationship between EQ and earnings management (EM) since they can be considered related challenges, especially in the context of international financial reporting standards (IAS/IFRSs). EM occurs when managers make discretionary accounting choices that are regarded as either an efficient communication of private information to improve the informativeness of a firm’s current and future performance, or a distorting disclosure to mislead the firm’s true performance. The intentional manipulation of earnings by managers, within the limits allowed by the accounting standards, may alter the usefulness of financial reporting and lead to lower quality of earnings. The use of fair value in financial reporting has created a current debate about the impact it might have on EQ. At times, the high subjectivity in estimating fair value can allow opportunities for the exercise of management judgments and intentional bias, which can reduce the quality of financial reporting. Management discretion can result in high EM and hence in a reduction of EQ. Particularly during difficult financial periods, managers engage in EM to mask the negative effects of the turmoil, and in such circumstances accruals and earnings smoothing are attempts to reduce abnormal variations of earnings in such circumstances. This book is a valuable resource for those interested in wider perspectives on EQ and it adds to the research studies on this topic in the context of financial reporting.

Title Line Item Analysis of Earnings Quality
Author Nahum D. Melumad
Publisher Now Publishers Inc
Release Date 2009
Category Business & Economics
Total Pages 148
ISBN 9781601982124
Language English, Spanish, and French
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Book Summary:

Line-Item Analysis of Earnings Quality provides a comprehensive summary and analysis of the specific earnings quality issues pertaining to key line item components of the financial statements. After providing an overview of earnings quality and earnings management, Line-Item Analysis of Earnings Quality analyzes key line items from the financial statements. For each key line item, the authors: review accounting principles discuss implications for earnings quality evaluate the susceptibility of the item to manipulation describe analyses and red flags which may inform on the item's quality Line-Item Analysis of Earnings Quality will prove useful in conducting fundamental and contextual analyses through its analysis and evaluations"

Earnings Quality by Jennifer Francis

Title Earnings Quality
Author Jennifer Francis
Publisher Now Publishers Inc
Release Date 2008
Category Business & Economics
Total Pages 85
ISBN 9781601981141
Language English, Spanish, and French
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Book Summary:

This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.

Earnings Quality by Patricia M. Dechow

Title Earnings Quality
Author Patricia M. Dechow
Publisher Research Foundation of the Institute of Chartered Financial Analysts
Release Date 2004-01-01
Category Corporate profits
Total Pages 152
ISBN 0943205689
Language English, Spanish, and French
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Book Summary:

Title Earnings quality and earnings management
Author Anonim
Publisher Rozenberg Publishers
Release Date 2005
Category
Total Pages 205
ISBN 9789051709872
Language English, Spanish, and French
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Book Summary:

Title International Financial Reporting Standards and New Directions in Earnings Management
Author Oliveira, Jonas da Silva
Publisher IGI Global
Release Date 2019-03-22
Category Business & Economics
Total Pages 342
ISBN 9781522578185
Language English, Spanish, and French
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Book Summary:

The fiscal market is an unpredictable torrent of information that modern organizations strive to understand. Business professionals dedicate themselves to understanding uncertain results around economic performance to improve management, reporting standards, and predict trends in financial statements. International Financial Reporting Standards and New Directions in Earnings Management is an essential reference source that discusses identifying the behavioral patterns of managers and the accounting policies they use in different opportunistic circumstances. Featuring research on topics such as earnings quality, risk reports, and investor protection, this book is ideal for regulatory authorities, accountants, impression managers, auditors, academics, students, and researchers seeking coverage on the theoretical, empirical, and experimental studies that relate to the different themes within earnings management.

Title How to Analyze Businesses Financial Statements and the Quality of Earnings
Author Joel G. Siegel
Publisher Prentice Hall Direct
Release Date 1991
Category Financial statements.
Total Pages 266
ISBN UVA:X002047830
Language English, Spanish, and French
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Book Summary:

Tells how to evaluate pension plans, financial instruments, and cash flows, interpret key business ratios and financial indicators, and discover misleading practices

Two Essays In Financial Accounting by Dorothy Alexander-Smith

Title Two Essays in Financial Accounting
Author Dorothy Alexander-Smith
Publisher Unknown
Release Date 2011
Category Business forecasting
Total Pages 143
ISBN OCLC:773789459
Language English, Spanish, and French
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Book Summary:

Essay 1: The Association of Earnings Quality with Financial Analysts' Earnings Forecast Attributes. This study investigates the association between firms' earnings quality and analysts' forecast errors and dispersion. The findings suggest that the quality of earnings is inversely related to analysts' forecast errors but is not associated with forecast dispersion. These results are better understood by an examination of the relationship of forecast error and dispersion with the major sub-components of earnings quality- the quality of the innate accrual component (quality of accruals related to the complexity of the firm's operations) and the quality of the discretionary accrual component (quality of managements' judgment as reflected in accruals used to project future performance). The inverse association between earnings quality and forecast error is driven primarily by the quality of the firm's innate accrual component (InnAQ). As firm complexity and variability increase, earnings contain larger amounts of management judgment and estimation. The larger amount of management estimation included in earnings renders it relatively less reliable and thus forecasting difficulty (reflected in greater forecast errors and dispersion) is amplified for poorer InnAQ. This inverse association is the dominant effect in earnings quality's association with analysts' forecast errors. The quality of firms' discretionary accrual components depends upon whether managers use of their discretion to provide value relevant information, or whether they use the discretionary component to incorporate manipulative and noisy discretionary accruals. In a regression of the of firms' discretionary earnings components on forecast dispersion I find an inverse relationship between the magnitude of the firm's discretionary earnings component and analysts' forecast dispersion. This is consistent with managers using the discretionary component to provide information on firm performance, thus facilitating more precision in analysts' forecasts. This essay contributes to two controversial areas of accounting research. The study indirectly provides evidence supporting managers' (on average) use of their discretion to provide value relevant information in earnings; and it simultaneously demonstrates analysts' expertise in incorporating information related to EQ and its sub components into their forecasts. Essay 2: The Influence of Earnings Quality on Financial Analysts' Herding Behavior. Essay 2 investigates how firms' EQ and its innate (the quality of accruals related to the complexity of the firm's operations) and discretionary (the quality of accruals based on managements' discretion) sub-components affect analysts' motivation to issue herding forecasts. Herding forecasts are forecasts which mimic those issued by other analysts and ignore the analyst's own private information. Although theoretical studies have linked herding behavior to analysts' rational reputational concerns, herding reduces the information available to investors in the market and hence negatively impacts market efficiency. Conversely, bold forecasts, forecasts issued which move away from the consensus (linked in prior studies to greater private information release and higher accuracy) are likely to contribute to improved market efficiency. As capital market intermediaries, financial analysts are charged with facilitating investors' investment decisions. The literature documents that poor earnings quality reduces investors' ability to evaluate firm performance. This essay contributes to the literature by providing evidence on how financial analysts' herding behavior is influenced by EQ and its sub components. Results show that the quality of the firm's innate accrual component is the major driver of analysts' bold forecasting. The negative association between forecast boldness and firms' innate accrual quality indicates that analysts issue bolder forecasts when investors have more difficulty determining firm value (noisier signal from innate accrual component). Given the prior literature finds that bolder forecasts contain more private information and are more accurate, the results suggests that analysts are effectively performing their market intermediary function. The lack of a significant association between bold forecasting and the discretionary earnings component is in line with prior literature's documentation of analysts' poor utilization of the discretionary information in their forecasts. However, this study's evidence of a positive association between bold forecasts and analysts' firm specific experience implies that analysts with more firm specific experience have a greater understanding of managers' discretionary signals and exploit their advantage by issuing bolder forecasts. Results show a negative association between firms' overall EQ and analysts' forecast boldness implying that analysts herd more the higher the firm's EQ. This finding underscores the importance of reputational concerns and the demand for analysts' investment advice for analysts' herding behavior.

Confidence Game by Christine S. Richard

Title Confidence Game
Author Christine S. Richard
Publisher John Wiley & Sons
Release Date 2011-03-29
Category Business & Economics
Total Pages 352
ISBN 9781118010419
Language English, Spanish, and French
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Book Summary:

An expose on the delusion, greed, and arrogance that led to America's credit crisis The collapse of America's credit markets in 2008 is quite possibly the biggest financial disaster in U.S. history. Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff is the story of Bill Ackman's six-year campaign to warn that the $2.5 trillion bond insurance business was a catastrophe waiting to happen. Branded a fraud by the Wall Street Journal and New York Times, and investigated by Eliot Spitzer and the Securities and Exchange Commission, Ackman later made his investors more than $1 billion when bond insurers kicked off the collapse of the credit markets. Unravels the story of the credit crisis through an engaging and human drama Draws on unprecedented access to one of Wall Street's best-known investors Shows how excessive leverage, dangerous financial models, and a blind reliance on triple-A credit ratings sent Wall Street careening toward disaster Confidence Game is a real world "Emperor's New Clothes," a tale of widespread delusion, and one dissenting voice in the era leading up to the worst financial disaster since the Great Depression.

Business Ratios Guidebook by Steven M. Bragg

Title Business Ratios Guidebook
Author Steven M. Bragg
Publisher Unknown
Release Date 2014-10-19
Category Business mathematics
Total Pages 292
ISBN 1938910451
Language English, Spanish, and French
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Book Summary:

Ratios and other measurements play a valuable role in analyzing business information. A system of measurements can also be used to monitor and control operations. The Business Ratios Guidebook is full of ratios and other measurements that can assist in these interpretation and control tasks. General topics include measurements for performance, liquidity, cash flow, return on investment, and share performance. More specific functional analysis topics include measurements for such areas as cash management, credit and collections, fixed assets, inventory, and product design.

Title Corporate Governance and Strategic Decision Making
Author Lawrence Emeagwali
Publisher BoD – Books on Demand
Release Date 2017-09-20
Category Business & Economics
Total Pages 226
ISBN 9789535135531
Language English, Spanish, and French
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Book Summary:

This edited volume aims to intimate and orient readers on the current state of corporate governance and strategic decision making a decade after the global financial crises. In particular, it sheds more light on the current state of affairs of corporate governance mechanisms, codes, and their enforcement as well as novel issues arising. The ten constituent chapters contained herein are authored by seasoned academics with research interests in the areas of corporate governance, strategic management, and sustainable management practices. It provides up-to-date theoretical and empirical evidence of such corporate governance issues as corporate governance codes, corporate fraud, quality of earnings, strategic decision making, corporate social responsibility, sustainable management, and sustainable growth strategies. Irrespective of the diverse nature and span of the topics included, this edited volume is divided into three sections and structured to read as a unit.

Valuation Techniques by David T. Larrabee

Title Valuation Techniques
Author David T. Larrabee
Publisher John Wiley & Sons
Release Date 2012-10-09
Category Business & Economics
Total Pages 624
ISBN 9781118417607
Language English, Spanish, and French
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Book Summary:

Analysis and insights from top thought leaders on a pivotal topic in investing and asset management Valuation is the cornerstone for investment analysis, and a thorough understanding and correct application of valuation methodologies are critical for long-term investing success. Edited by two leading valuation experts from CFA Institute, this book brings together the insights and expertise of some of the most astute and successful investment minds of the past 50 years. From Benjamin Graham, the “father of value investing,” to Aswath Damodaran, you’ll learn what these investment luminaries have to say about investment valuation techniques, including earnings and cash flow analysis. Features the best thinking on valuation from the industry’s masters on the topic, supplemented with dozens of fascinating and instructive real-world examples Comprehensively discusses special valuation situations, such as real options, employee stock options, highly leveraged firms, corporate takeovers, and more Supplies you with the tools you need to successfully navigate and thrive in the ever-changing financial markets Is being produced with the full support and input of CFA Institute, the world’s leading association of investment professionals

Title Earnings Management Conservatism and Earnings Quality
Author Ralf Ewert
Publisher Now Pub
Release Date 2012-10
Category Business & Economics
Total Pages 134
ISBN 1601986025
Language English, Spanish, and French
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Book Summary:

Earnings Management, Conservatism, and Earnings Quality reviews and illustrates earnings management, conservatism, and their effects on earnings quality in an economic modeling framework. Both earnings management and conservative accounting introduce biases to financial reports. The fundamental issue addressed is what economic effects these biases have on earnings quality or financial reporting quality. Earnings Management, Conservatism, and Earnings Quality reviews analytical models of earnings management and conservatism and shows that both can have beneficial or detrimental economic effects, so a differentiated view is appropriate. Earnings management can provide additional information via the financial reporting communication channel, but it can also be used to misrepresent the firm's position. What the authors find is that similar to earnings management, conservatism can reduce the information content of financial reports if it suppresses relevant information, but it can be a desirable feature that improves economic efficiency. The approach to study earnings management, conservatism, and earnings quality is based on the information economics literature.A variety of analytical models are reviewed that capture the effects and subtle interactions of managers' incentives and rational expectations of users. The benefit of analytical models is to make precise these, often highly complex, strategic effects. They offer a rigorous explanation for the phenomena and show that sometimes conventional wisdom does not apply. The monograph is organized around a few basic model settings, which are presented in simple versions first and then in extensions to elicit the main insights most clearly. Section 2 presents the basic rational expectations equilibrium model with earnings management and rational inferences by the capital market. Section 3 is devoted to earnings quality and earnings quality metrics used in many studies. Section 4 studies conservatism in accounting. Finally, the authors examine the interaction between conservatism and earnings management. Each section ends with a section containing a summary of the main findings and conclusions.

Auditing by W. Robert Knechel

Title Auditing
Author W. Robert Knechel
Publisher Routledge
Release Date 2016-10-04
Category Business & Economics
Total Pages 696
ISBN 9781315531717
Language English, Spanish, and French
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Book Summary:

Focusing on auditing as a judgment process, this unique textbook helps readers strike the balance between understanding auditing theory and how an audit plays out in reality. The only textbook to provide complete coverage of both the International Auditing and Assurance Standards Board and the Public Company Accounting Oversight Board, Auditing reflects the contemporary evolution of the audit process. New additions to the book include expert updates on key topics, such as the audit of accounting estimates, group audit, and the Integrated Audit. Supplemented by extra on-line resources, students using this established text will be well-equipped to be effective auditors and to understand the role of auditing in the business world.

It S Earnings That Count by Hewitt Heiserman

Title It s Earnings That Count
Author Hewitt Heiserman
Publisher McGraw Hill Professional
Release Date 2003-12-02
Category Business & Economics
Total Pages 210
ISBN 9780071542470
Language English, Spanish, and French
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Book Summary:

An innovative way to see through a company's published numbers to discover its true investment potential This book gives you a blueprint for finding a great growth stock for the next decade without taking on a lot of risk in the process. Inspired by the writings of Benjamin Graham, It's Earnings That Count examines a firm’s earnings quality from the perspective of a “defensive” investor who wants to avoid committing ruinous mistakes as well as the “enterprising” investor who seeks Wall Street’s next great opportunities. Unfortunately, as recent market history has shown, the traditional income statement is ill-suited to meeting the needs of these sometimes opposing viewpoints. As a result, investors can buy shares of a seemingly profitable company that, in fact, has poor earnings quality. However, the author’s trademarked Earnings Power Chart combines Graham’s two personalities to reveal, in picture form, whether a company possesses authentic earnings power for long-term growth. Using the world-famous William Wrigley Jr. Company gum-maker as a case study, you will learn how to build these two alternate profit-and-loss statements to protect yourself. Since this book is written in plain English, you do not need to be an MBA or accountant to follow these step-by-step instructions. Giving investors the tools they need to turn the tables in their favor, It's Earnings That Count covers: The four limitations of the income statement found in every annual report, 10-K, and 10-Q A quick-hitting, five minute test to sift out the obvious losers so you can save time and focus on analyzing potential winners How to spot when a company is forging an Earnings Power Staircase—that’s your hallmark of a low-risk growth stock like Microsoft and Paychex Why the charts of Lucent Technologies, WorldCom, Enron, and Tyco signaled trouble ahead of traditional income statement. The 2 earnings power ratios you need before making your next investment 12 ways to check whether management’s interests are aligned with yours A list of 15 items to check for to make sure the companies in your stock portfolio have a competitive advantage. (Hint: Great growth stocks always have competitive advantages.) 16 kinds of companies to avoid 20 indicators that it may be time to sell

Title You Can Be a Stock Market Genius
Author Joel Greenblatt
Publisher Simon and Schuster
Release Date 2010-11-02
Category Business & Economics
Total Pages 304
ISBN 1451628064
Language English, Spanish, and French
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Book Summary:

A comprehensive and practical guide to the stock market from a successful fund manager—filled with case studies, important background information, and all the tools you’ll need to become a stock market genius. Fund manager Joel Greenblatt has been beating the Dow (with returns of 50 percent a year) for more than a decade. And now, in this highly accessible guide, he’s going to show you how to do it, too. You’re about to discover investment opportunities that portfolio managers, business-school professors, and top investment experts regularly miss—uncharted areas where the individual investor has a huge advantage over the Wall Street wizards. Here is your personal treasure map to special situations in which big profits are possible, including: · Spin-offs · Restructurings · Merger Securities · Rights Offerings · Recapitalizations · Bankruptcies · Risk Arbitrage