Accounting for Growth

Based on the award-winning "City Report" by UBS Phillips and Drew, this is an alarming book which shows up the methods developed by accountants during the 1980s in order to be able to report continuous growth in earnings per share - profit. But accounts drawn up in this way give an entirely false picture of a company's health, and in fact, many of the firms which employed these methods subsequently went bust. The author of this book argues that it is time for attention to refocus on balance sheet movement, divided potential and above all, cash, if readers and investors are to have an accurate picture of how companies are really performing.