Product Information
International Financial Reporting Standards (IFRS) are now mandatory in Europe and are being adopted by other countries, including Australia. Items that have not been recorded before, or that were hidden away in the accounts, are much more visible under IFRS and will need to be carefully interpreted by investors and analysts. Written by practitioners for practitioners, the book addresses valuation from the viewpoint of the analyst, the investor and the corporate acquirer. It starts with valuation theory: what is to be discounted and at what discount rate? It explains the connection between standard methodologies based on free cash flow and on return on capital. And it emphasizes that, whichever method is used, accurate interpretation of accounting information is critical to the production of sensible valuations. The authors argue that forecasts of cash flows imply views on profits and balance sheets, and that non-cash items contain useful information about future cash flows ? so profits matter. The book then addresses the implications for analysis and valuation of the key IFRS changes including: - Pensions - Stock options - Derivatives - Provisions - Leases It also explains the key differences between IFRS and US GAAP treatments of these issues, and their implications for analysis. A detailed case study is used to provide a step by step valuation of an industrial company using both free cash flow and economic profit methodologies. The authors then address a range of common valuation problems, including cyclical or immature companies, as well as the specialist accounting and modelling knowledge required for regulated utilities, resource extraction companies, banks and insurance companies. Accounting for mergers and disposals is first explained and then illustrated with a detailed potential acquisition using real companies.Product Identifiers
PublisherHarriman House Publishing
ISBN-139781897597521
eBay Product ID (ePID)87688102
Product Key Features
SubjectAccounting, Management
Publication Year2005
Number of Pages416 Pages
Publication NameCompany Valuation Under IFRS: Interpreting and Forecasting Accounts Using International Financial Reporting Standards
LanguageEnglish
TypeTextbook
AuthorNick Antill, Kenneth Lee
FormatHardcover
Dimensions
Item Height234 mm
Item Width156 mm
Additional Product Features
Country/Region of ManufactureUnited Kingdom
Title_AuthorNick Antill, Kenneth Lee