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This book takes us long ways in pushing for such changes. Written by a group of people who know a lot about the topic - unlike most business books, which are typically written by those who know very little, because the ones in the know are too busy working - this sounds the first death knell of corporate reporting as we know it. It is a rather courageous set of arguments that the authors make, coming as it does from an institution, PriceWaterhouseCoopers, which, frankly, has plenty of incentives to maintain the status quo.
I would highly recommend this book to every manager, investor, and student of business. One of the nice aspects of the book is its international breadth, further reinforcing the argument that in today's global realities, the changes ought to be globally driven and required.
The best thing about the book is its rigor. The authors' authority of over their subject matter clearly comes through the book as does their hands-on experience in wrestling with tricky, complex, corporate reporting issues that companies face and shareholders need - issues that under today's requirements are typically not addressed, and therefore, lead to the kinds of deleterious effects that are evident in today's pump-and-dump markets.
Finally, in a world of superficial, shoddy, silly, ghost-written tripe that is published under the guise of management thinking, this book stands as a shining, stellar example of what good management writing is all about: rigor, clarity, and the kind of expansive and aspirational thinking that forces people to want to read a book and ask themselves, "where do I begin?" This book is a much needed call to action on probably the most important managerial, corporate, and financial issue.
After thorough analysis of the shortcomings of today's "earnings game," the authors map out a comprehensive approach to determining and sharing key financial and nonfinancial data that will help all business stakeholders assess a company's value. By using internal performance measurement tools such as the Balanced Scorecard for external reporting, companies can focus more clearly on creating value rather than face a quarterly scramble to burnish their earnings picture. Nonfinancial disclosure would also improve decision making for investors by providing a more complete picture of company operations and strategy.
In addition to promoting a commitment to improved ongoing communications, the authors note that the Internet and recent financial disclosure regulation have enabled new entrants to develop and distribute a range of economic information and services that compete directly with traditional Big-5 and Wall Street firms. This could signify the end of the "double-secret, uber-whisper" the earnings rumors that reach (and reward) only a subset of a subset of people in the know.
As an organizational consultant, this book was very helpful in clarifying the network of relationships among companies, analysts, regulators, accountants, and investors - and showing how they misestimate value and often move markets based on limited, asymmetric information. ValueReporting suggests an alternative way for companies to account for themselves that is aligned with sound management and sound investing.
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Chilton continues to uses a narrative style using characters that just about anyone could relate to. The Wealthy Barber breaks the age-old mind-set that only the rich can be rich. An excellent primer, you can apply techniques in his book today to ensure a better tomorrow. He also encourages further exploration and learning in order for anyone to become wealthy. Whether you're an executive or a gas station attendant, given patience and a little fortitude, you too can be wealthy!
I urge you, read this book!
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This author, like many of us, is a middle-aged member of the baby boom generation, and finds himself taking care of an elderly and ailing parent. But what was so moving to me was the level of loyalty and devotion that he offers his quite ill father. In relating his journey on paper, he makes it clear from the start that nothing would take precedence over his dad. No one was going to stand in the way of him properly caring for his father.
I enjoyed this book, and can tell you that it is okay for a man to cry (my wife did too as she read the book) when he sees such an improbable level of compassion and caring. It is rare today to see children care so strongly for their parents, so if I ever need him, I hope that I can clone this author.
Great book.
Richard Pettibone
The author bares his soul in this story of family and unconditional love. While taking care of an ill parent, Mr. Eide deals with every twist and turn that life handed him - and he does it with courage and grace.
In this book, everything is laid out for the reader (and the world) to see. But that is also what makes it such an enjoyable book to read as we can all relate.
I loved this book, and you will too.
Terrific reading, especially for those with elderly parents. This book is well worth the money.
Like a true Warhol disciple David Lachapelle is always looking for the beauty in everyday things, he used to get depressed when he would go away anywhere and see signs of industrialitation, until he start finding the beauty in them, "we get excited now when we see Golden Arches an parking lots...The've replaced the forest".
There are no words that can explain these hipnotic, surreal, intriguing and enchanting photograhs and the emotion you could achieve when traveling through the pages of this book. It contains 151 pages of photographs, including pictures of Leonardo DiCaprio, Kim Basinger, Simon Le Bon, The Smashing Pumpkins and the one and only Andy Warhol; plus 91 small outtakes of the photo sessions in two pages.
In LACHAPELLE LAND absolutely all the people look Hipnotically Beautiful, like he says he wants his photographs to be a break of beauty, this books is a Trip of Beauty.