Going beyond generally accepted accounting principles.
9/23/2002
Remember when financial reporting was boring? Today, your career may be riding on your grasp of it. This book, written by two accounting professors, argues that your reporting should be as transparent for investors as the systems you use with workers, customers, and vendors. The idea is that by employing high standard financial reporting—reporting that exceeds Generally Accepted Accounting Principles—you'll gain the trust (and perhaps more resources) from investors and creditors. In addition to a critique of current reporting practices, the authors discuss a number of methods for improvement, including the use of supplemental disclosures and more-than-required reporting. But in the end, "QFR is a mental attitude, not a set of specific practices."