|Book||Financial Literacy: Lessons from Centro||23/09/2011||9780864607454||$22.00|
This booklet highlights the lessons to be learned from the Federal Court decision in the Centro case so that in future company directors can avoid potential pitfalls when called on to approve company financial statements. The decision, handed down at the end of June 2011, reinforces the strong imperative for company directors to be financially literate to ensure that they can properly read and understand the company’s financial statements and to apply the knowledge they had or should have acquired to perform that task.
The lessons from Centro, couched in terms accessible to company directors and non-accountants, are explained in this key booklet.
The booklet complements the main book Financial Literacy for Lawyers, Directors and Investors published last year by Thomson Reuters and written by the same authors, Andrew McRobert and Ronnie Hoffman. This book provides an in-depth overview of how financial statements are put together, the key financial statements (what they reveal and can’t reveal), the balance sheet, profit and loss account, analysis of cash flow and key accounting concepts. It also covers the difficult area of “cosmetic accounting” with descriptions of many common approaches taken to present company results in the best possible light and suggestions of where and how to search for the “unknown unknowns.”
You can purchase both "Financial Literacy for Lawyers, Directors and Investors" and "Financial Literacy: Lessons from Centro" as a value bundle, Financial Literacy Package
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This is a non-subscription purchase - price is inclusive of GST.