No comments about IFRS Primer: International GAAP Basics.

3 comments about Financial Accounting Theory and Analysis: Text Readings and Cases, Eighth Edition.

1. This book has presented the Accounting Theory in a simple to understand manner. It is useful for those who need to acquire simple to understand theories in the FASB. Unfortunetly, the book does not go into the explaining of the many theories in details, eg. the prescriptive and descriptive theories.



2. In my opinion, this is an outstanding text. It is easy to read and it covers all the important areas of accouning theory. In my view, this text eliminates the need for the student to study sentences trying to understand what is being said. The writing is clear and straight to the point. Thus, one can concentrate on learning, not trying to unscramble sentences for meaning. If you are looking for an accounting theory text, give this one a look-see. My guess is that you will like what you read. Like all theory texts, however, this one does NOT come with much material to assist an instructor (e.g., no test bank, no transparencies to assist in teaching, etc.). About the only thing I found was an accompanying booklet that gives answers to "cases" that are in given for each chapter. However, this is not a serious drawback, in my view. Because of skimpy supporting material, I would think that authors would notice this and "corner the market" by trying to please educators. Given the excellence of this text, my guess is that ample supporting materials would put this text in lots of classrooms. But that is just my opinion.



3. Apparently, the previous two reviews were written by the authors.
   
   In all honesty, this is the most un-readable text I have encountered in my 4 years of undergrad and 1+ years of grad study.
   
   I can understand the diffuclty in translating FASB and SFAS principles to layman's terms, but the general flow of the text is verbose and time consuming.
   
   The follow up questions at the end of each chapter often refer to topics that are defined differently in the chapter itself, leading you to re-read and re-read the same chapter. Important topics that could be otherwise easily explained are drawn out to the point where you feel your just plain stupid.
   
   If you are a professor and your looking for a text to assign, this is not it.
   
   Unless you're a sadist.

No comments about Financial Accounting.

1 comments about Financial Applications using Excel Add-in Development in C/C++ (The Wiley Finance Series).

1. Microsoft was invested considerable effort in enabling its Excel spreadsheet to be integrated into a C++ program. Where the latter is Microsoft's version, Visual C++. Or, somewhat more broadly, you can hook programmatically into Excel from within Visual Studio .NET. Permitting the use of Visual Basic, for example.
   
   However, much of the book restricts to the discussion of using C or C++ code. There are lengthy explanations of how to pass data between Excel and the C/C++. A comprehensive API in C is available. Its use is certainly non-trivial, as will be evidenced if you start reading the chapters on it. You can even crash Excel from your C/C++ code by several inadvertant means, as cautioned in the text.

1 comments about Wiley CPA Examination Review Focus Notes: Financial Accounting and Reporting (Wiley Cpa Examination Review Focus Notes).

1. The REG focus notes served for me as a good tool to reinforce what I had already studied in more detail. It is like a good set of flash cards that point out some key details of information which you should be able to recall. Do not rely on this solely as your only source for material but it is a good supplement.

2 comments about Movie Money: Understanding Hollywood's (Creative) Accounting Practices, 2nd ed..

1. This book will help anyone who desires to learn how their box office ticket dollars are spent. The authors take you step by step through a standard profit participation agreement. I feel the authors are not as aggressive as they should be hollywood's unethical "creative accounting". The distributors and the audit firms would like artists to believe that the lack of knowledge is why many artist are "cheated" out of their net profits or as Eddie Murphy stated "monkey profits". All net profit participants should read this before they listen to their lawyers and auditors. Many auditors and attorneys are willing participants in the "net profit scam"!



2. This is serious stuff! Written by three of the top "Profit Participation Auditor-Accountants" in Hollywood, this is a very informative, very scary inside look at how the legendary "Hollywood Accounting" really works. They also go into why it is the way it is...and that does give you some sympathy for the devil. It's not an easy read since we're talking about legalese and accounting strategies here, so it's not for the casual hobbist. I found it absolutely fascinating and extremely useful since I consider myself a serious filmmaker who wants to know what a good deal and a bad deal may look like...and want to make some money with my movies, not just hit a few festivals and it end up a trophy on the shelf. If you're serious, this is a must read...but bottom line: Don't try to do this yourself. Even the everyday lawyer or CPA will get bamboozeled if they don't have a movie biz experience.

5 comments about Stolen Without A Gun: Confessions from inside history's biggest accounting fraud - the collapse of MCI Worldcom.

1. So MCI, like Enron, was caught. And many others, including AOL, escaped from the crime of channel stuffing and/or cooking their books to meet Wall Street estimates, which was as common in the late 90s as speeding on a interstate highway today. It was implicitly required by Wall Street, in order to justify the shares of the company being used as currency for future acquisitions--MCI/Worldcom was just one of many 'guilty parties'. None of these people deserved to go to jail, certainly not as many years as Schilling and Ebbers, to appease greedy shareholders--yes greedy--who were burned when they were too greedy to unload their shares before the crash. Poor babies, I really cry for you (not). Yes, America loves a scapegoat. And America loves a loser who repents. Support your local con by buying this 'tell all' book and feel the schadenfreude.



2. Walter Pavlo, Jr.'s story is an interesting tale, one that was later obscured by the larger fraud that occurred after he left MCI and after MCI merged with WorldCom. It's an important story nonetheless because it provides the reader with insider insight into how public corporations push their employees to "make numbers" and what happens when those employees not only take it too far, but learn how to game the system to their own advantage.
   
   Neil Weinberg does an excellent job telling the story, doing so in a way that doesn't make his co-author, who just happens to be the subject of the book, come off looking like some kind of hero while everyone else looks like a villain. In other words, I felt like what I read was the truth as opposed to a one-sided account of the situation.
   
   Pavlo may have been gone by the time that Bernie Ebbers, Scott Sullivan and their friends were cooking the ledger, but this book provides ample evidence as to how they were able to do so and how they got away with it for so long.
   
   I was a journalist and I covered the WorldCom accounting scandal. It was the little stories like these that were the brush strokes of the larger portrait of fraud. Every company has its "Wally" and reading Pavlo's story is an important reminder of that.



3. This book reminds me of what happened at Enron because like Andy Fastow, this guy was doing side deals with 900 phone number companies who owed millions to MCI. He would cook the books at MCI so that it would appear that the debt had been paid off..then he would arrange to collect the debt himself...and MCI was never the wiser. Amazing what you can get away with in the corporate world...NO CHECKS AND BALANCES AT MCI.



4. As an MCI employee, who lost their life savings and their job to the fiasco that was the MCI/Worldcom fraud, the fact that anyone responsible for it's failure are allowed to PROFIT in any way, even through a book is a TRAVESTY! I only gave it a star because I had to, in order to publish this review.



5. This book I give 5 stars without hesitation. The coauthor is an editor at Forbes Magazine, so the book is a well-written page turner.
   
   As already summarized, the book details the adventurous account of a former MCI executive, who willingly gets involved in an embezzlement scheme in the 90s. Eventually, his deeds get exposed, and his life, in many respects (i.e. professional, family, etc.), is ruined. I was impressed by his self-deprecating honesty. He lets the world see his sinful story perhaps as a lesson to be learned from.
   
   Many people with sins in their past (I guess that includes everybody who is totally honest) have probably thought at one point that they NEVER would have done such-and-such had they only known what the consequences were going to be. This book is about such a person.
   
   When I emailed the author complimenting him on the book, I asked him about the restitution he had to pay. He indicated that it's an obligation he'll be paying for many years to come. "It's a bit bigger than a car payment each month and subject to change depending on my income. It is a burden, but it's a lot better than being in prison."

No comments about ExamWise® Volume 2: CFA 2008 Level I Certification: The Candidates 500 Question Concept Check Q & A Workbook For Chartered Financial Analyst (With Download Software).

3 comments about Wealth Management: The Financial Advisor's Guide to Investing and Managing Client Assets.

1. Harold generously shares his knowledge, not only in solid investment thought, but in practical application. If you've ever wanted to know how to practically apply investment research to your own portfolios, this is the book that will do it



2. I had expected a typical fluff, despite Evensky's fine reputation. I has very surprised at this mixture of practical advice and theory. Pointers are given to other sources for those more theoretically inclined. Some of the practical advice (software recommendations and such) won't age as gracefully as the text itself, these packages will become obsolete before the book. Nevertheless, I'd highly recommend it for anyone who is looking to understand the basics of risk/reward, the importance of asset allocation, and the theoretical material that led to these ideas.



3. Mr. Evensky's book has had a profound impact on my wealth management philosophy. He is very effective in blending the broad scope of investment management theory with "real world", practical application. I found it particularly useful because it is not a book written by an academic who has never sat across the table from a client and held their hand through the good times and the tough. This is a must read for any serious manager of wealth.

   A. Todd Black, CFP

No comments about Fundamental Financial Accounting Concepts with Harley-Davidson Annual Report.