Company valuation under IFRS: Interpreting and Forecasting Accounts

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Company valuation under IFRS: Interpreting and Forecasting Accounts


Language: EnglishISBN-10: 190564177XISBN-13: 978-1905641772

International Financial Reporting Standards (IFRS) are now mandatory in many parts of the world, including Europe, Australia and China. In addition, many countries are in the process of IFRS adoption. Lastly, foreign registrants in US companies no longer have to undertake a costly US-IFRS reconciliation. Therefore, it is clear that investors, analysts and valuers need to understand financial statements produced under IFRS to feed in to their valuations and broader investment decisions. 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 key aspects of IFRS including: - Pensions - Stock options - Derivatives - Provisions - Leases The text also sets out which countries use GAAP, as well as the key differences between IFRS and US GAAP treatments of these issues, in addition to 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, insurance and real estate companies. Accounting for mergers and disposals is first explained and then illustrated with a detailed potential acquisition using real companies.




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关键词：Interpreting Forecasting Valuation Interpret Accounts valuation

感谢楼主分享！有点贵啊

tigerwolf 发表于 2014-7-5 22:23
Company valuation under IFRS: Interpreting and Forecasting Accounts

感谢分享

tigerwolf 发表于 2014-7-5 22:23
Company valuation under IFRS: Interpreting and Forecasting Accounts

收藏一下

THANKS

是2008年版的，有点贵了。

谢谢分享

不错~谢谢楼主分享

收藏，楼主，能公布一下出版年份更好哈，多谢！