Product Description

Was most of the growth seen in company profits during the late 80s, and in some cases in the early 90s, due to the improved efficiency of British industry - or was it generated from the manipulation of profits by creative accounting? This new edition of ACCOUNTING FOR GROWTH is a ruthless exposure of the accountancy practices - not illegal - which are used to bemuse the investing public and cast a rosy glow over the accounts of companies which in some cases were on the verge of bankruptcy. The first publication of the book in 1992 caused up an uproar in the City and beyond, and as a result of it many of the practices identified by Terry Smith have been changed or discontinued. This new edition, with much new material and additional chapters, is equally hardhitting and will once again put accountancy practices under the microscope.

Product Details

• Amazon Sales Rank: #256916 in Books
• Published on: 1996-07-18
• Original language: English
• Binding: Paperback
• 222 pages

Customer Reviews

An excellent insight into the world of creative accounting.
What makes this book special is the fact that Terry Smith actually names names and shows real, recent examples of creative accounting used by many large household names. He explains the effects of the changes in policy clearly and follows this through with examples from the published accounts. Although technical, it is easy to read and presented in a format which allows it to be understood by people from non-technical backgrounds. It is not a 'school' book but I have recommened it as reading for some of my brighter A level students who wish to follow a course in accounting.

Perhaps the only famous book on accountancy in the UK
Terry Smith's book created a huge stir in the accountancy community when it was first publised in 1992. It told everyone what accountants had known for years: how companies manipulate their profits.

In this new edition, Terry Smith updates his earlier work to include and comment on many of the changes in UK accounting regulations since 1992.

Although the book is billed as a laymans guide to accountancy, I was very glad to be a trained accountant when reading it: you will have difficulty if you have no knowledge of how company accounts work. Having said that, it is not a technical book.

Pulling back the curtain
A useful book for any investor. Provides an shocking picture of the worst effects of creative accounting.

However, do bear in mind that there are a few things outdated now by new FRS standards.

An updated edition please!