Quality Financial Reporting - Hardcover

"If I pick up an annual report and I can't understand a footnote, I probably won't - no, I won't - invest in that company because I know that they don't want me to understand it." --Warren Buffet, keynote presentation at the University of North Carolina

This work offers a no-holds-barred look at the shortcomings in today's financial reporting standards - with a prescriptive program for change. Financial reports today have become hopelessly complex, and impossible for investors and other capital markets professionals to understand. This hurts everyone involved. "Quality Financial Reporting" outlines the rules for QFR, a financial reporting revolution in which essential figures are reported clearly, truthfully, and in a language that everyone can understand. "Quality Financial Reporting" is groundbreaking in its theory, comprehensive in its presentation, and destined to become required reading for accountants and investors alike. A long-overdue recipe for change, it provides readers with: strategies and techniques for adopting a QFR standard; relevant empirical research that supports QFR; and end-of-chapter evaluation checklists and questions. "Accounting is the language of business. In recent years, too often language has been distorted to the point of becoming unintelligible. This book is a step toward restoring its usefulness." - Warren Buffet. Paul B.W. Miller is a professor of accounting at the University of Colorado at Colorado Springs. Paul R. Bahnson is an associate professor of accounting at Boise State University.