How Accounting Executives Looked the Wrong Way
- Topics:
- Line of Business Reporting
- Tags:
- Accounting,
- Capital Eyes,
- Finance,
- Finance Function,
- Financial,
- Financial Accounting,
- Financial Services,
- Operational Accounting
- Source:
- Capital Eyes
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Overview: As confidence in the capital markets has been shattered, chief executives have fallen under suspicion; so, too, have analysts, investment bankers, lawyers and, of course, the auditors. Large, decentralized accounting organizations have been consolidated and relocated to shared service centers, leading to job cuts among accounting staff. Probably the most difficult assets to evaluate are financial instruments whose values are represented by underlying assets not reflected on the balance sheet itself. The finance function has clearly played its part in the drive to create market value and therefore in the excesses that have accompanied it. The emphasis on large financial deals and how they are accounted for, the increase in the size of the "investor relations" function and the development of large, stock-based financial incentives for many executives have all contributed.
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Format: HTML | Date: Sep 2002 | Pages: 1
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