Corporate Collapse
Accounting, Regulatory and Ethical Failure
2nd Edition
Published on 7. April 2003
Book
Hardback
412 pages
978-0-521-82684-6 (ISBN)
Description
This revised edition of Clarke, Dean and Oliver's provocative book tells why accounting has failed to deliver the truth about a company's state of affairs or to give warning of its drift towards failure. Well-known corporate collapses from the 1960s to the present day show that little has changed over these decades. The authors balance broad interpretations and recommendations for regulatory reform with intricate case details, insightful analysis of contemporary practices and dissection of the pervading commercial rhetoric. Corporate Collapse includes examinations of the recent HIH, One.Tel, Ansett and Enron debacles and shows that the cult of the individual in media coverage has masked serious endemic problems in the system of reporting financial information. The book is essential reading for professional accountants and auditors, company directors and managers, regulators, corporate lawyers, and investors, and accounting academics and their students.
Reviews / Votes
Reviews of the first edition 'A provocative and timely publication, this book will stimulate public debate about national accounting issues and deserves thorough study by managers, regulators, accountants, investors and politicians.' J. G. Service, Chairman of the Advance Bank 'This book makes a valuable contribution to the history of accounting practice and of corporate regulation in Australia. Many of the lessons from corporate failures have not previously been identified, let alone learned.' Professor Robert Walker, University of New South Wales 'A very dismal story - one of the most important studies in corporate accounting behaviour undertaken in many years - required reading for all academic accountants, senior students, professional accountants and regulators.' Emeritus Professor Alan Barton, Australian National UniversityMore details
Edition
2nd Revised edition
Language
English
Place of publication
Cambridge
United Kingdom
Target group
Professional and scholarly
College/higher education
Edition type
Revised edition
Dimensions
Height: 228 mm
Width: 152 mm
Thickness: 30 mm
Weight
798 gr
ISBN-13
978-0-521-82684-6 (9780521826846)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
New editions
Book
06/2007
Cambridge University Press
€66.20
Shipment within 15-20 days
Previous edition
F. L. Clarke | G. W. Dean | K. G. Oliver
Corporate Collapse
Regulatory, Accounting and Ethical Failure
Book
07/1997
Cambridge University Press
€55.80
Article exhausted; check for reprint
Persons
Frank Clarke is Emeritus Professor of Accounting at the University of Newcastle, Australia Graeme Dean is Professor and Head of Accounting at the University of Sydney and editor of Abacus magazine. Kyle Oliver is a lecturer in Law at the University of Western Sydney.
Content
Part I. Accounting in Crisis - a Farce to be Reckoned With: 1. Chaos in the counting-house; 2. Creative accounting - mind the GAAP; Part II. The 1960s: 3. The corporate 1960s: dubious credit and tangled webs; 4. Reid Murray: the archetypal failure; postscript - Stanley Korman; 5. H. G. Palmer: 'Gilt' by association; Part III. The 1970s: 6. Going for broke in the 1970s; 7. Minsec: decline of a share trader; 8. Cambridge credit: other people's money; 9. Uncoordinated financial strategies at Associated Securities Ltd. Part IV. The 1980s: 10. The 1980s: decade of the deal?; 11. Adsteam on the rocks; 12. Bond Corporation Holdings Ltd (Group): entrepreneurial rise and fall; 13. Westmex Ltd: the security facade of cross guarantees; Part V. The New Millennium - Life in the Farce Lane: 14. 2000s and beyond: crisis in accounting and audit; 15. HIH - unfettered hubris. Part VI. Regulatory Reforms: 16. Groupthink: Byzantine structures; 17. Groupthink - group therapy: consolidation accounting; 18. Fatal attrition - accounting's diminishing serviceability; 19. Ethos abandoned - vision lost: accounting at the professional crossroads?