Company valuation under IFRS: Interpreting and forecasting accounts using International Financial Reporting Standards

3 avg rating
( 1 ratings by Goodreads )
 
9781905641772: Company valuation under IFRS: Interpreting and forecasting accounts using International Financial Reporting Standards

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.

"synopsis" may belong to another edition of this title.

About the Author:

Nick Antill Since 2000, Nick has divided his time between training and consultancy in the areas of energy and finance, and currently works as an associate of BG Training and as a consultant for Citigroup. Previously, he spent 16 years in the City of London as an equity investment analyst specialising in European energy companies, finishing as head of the European team at Morgan Stanley. He began his career in the oil industry, where he worked as an economist with BP and Saudi Aramco. Previous publications include (with Robert Arnott) 'Valuing oil and gas companies'. Kenneth Lee In what now seems like a previous life, Kenneth was an accountant and tax consultant with Arthur Andersen in Dublin. He then held various positions in the financial training business culminating in becoming the accounting specialist at BG training. There he trained analysts from all the major banks and published 'Accounting for Investment Analysts: an international perspective'. In 2009, Kenneth joined Barclays Capital as Deputy Head of European equity Research and lead analyst on Accounting Research. He is a fellow of the Institute of Chartered Accountants in Ireland, a member of the Securities Institute of Taxation in Ireland and a CFA charterholder.

Nick Antill Since 2000, Nick has divided his time between training and consultancy in the areas of energy and finance, and currently works as an associate of BG Training and as a consultant for Citigroup. Previously, he spent 16 years in the City of London as an equity investment analyst specialising in European energy companies, finishing as head of the European team at Morgan Stanley. He began his career in the oil industry, where he worked as an economist with BP and Saudi Aramco. Previous publications include (with Robert Arnott) 'Valuing oil and gas companies'. Kenneth Lee In what now seems like a previous life, Kenneth was an accountant and tax consultant with Arthur Andersen in Dublin. He then held various positions in the financial training business culminating in becoming the accounting specialist at BG training. There he trained analysts from all the major banks and published 'Accounting for Investment Analysts: an international perspective'. In 2009, Kenneth joined Barclays Capital as Deputy Head of European equity Research and lead analyst on Accounting Research. He is a fellow of the Institute of Chartered Accountants in Ireland, a member of the Securities Institute of Taxation in Ireland and a CFA charterholder.

"About this title" may belong to another edition of this title.

Top Search Results from the AbeBooks Marketplace

1.

Lee, Kenneth; Antill, Nick
Published by Harriman House, U.S.A. (2008)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 1
Seller:
Karl Theis
(Torrance, CA, U.S.A.)
Rating
[?]

Book Description Harriman House, U.S.A., 2008. Hard Cover. Book Condition: New. Revised Edition. NEW WITH LIGHT SHELF WEAR. Bookseller Inventory # 035950

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 29.95
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

2.

Nick Antill, Kenneth Lee
Published by Harriman House Publishing, United Kingdom (2008)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 10
Seller:
The Book Depository US
(London, United Kingdom)
Rating
[?]

Book Description Harriman House Publishing, United Kingdom, 2008. Hardback. Book Condition: New. 2nd Revised edition. Language: English . Brand New Book. 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; and, 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. Bookseller Inventory # AA79781905641772

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 39.88
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

3.

Nick Antill, Kenneth Lee
Published by Harriman House Publishing, United Kingdom (2008)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 10
Seller:
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description Harriman House Publishing, United Kingdom, 2008. Hardback. Book Condition: New. 2nd Revised edition. Language: English . Brand New Book. 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; and, 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. Bookseller Inventory # AA79781905641772

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 40.03
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

4.

Nick Antill
Published by Harriman House Publishing
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 5
Seller:
THE SAINT BOOKSTORE
(Southport, United Kingdom)
Rating
[?]

Book Description Harriman House Publishing. Hardcover. Book Condition: New. New copy - Usually dispatched within 2 working days. Bookseller Inventory # B9781905641772

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 38.21
Convert Currency

Add to Basket

Shipping: US$ 9.15
From United Kingdom to U.S.A.
Destination, Rates & Speeds

5.

Kenneth Lee, Nick Antill
Published by Harriman House 2008-06-12, Petersfield, Hampshire (2008)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 10
Seller:
Blackwell's
(Oxford, OX, United Kingdom)
Rating
[?]

Book Description Harriman House 2008-06-12, Petersfield, Hampshire, 2008. hardback. Book Condition: New. Bookseller Inventory # 9781905641772

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 40.05
Convert Currency

Add to Basket

Shipping: US$ 7.91
From United Kingdom to U.S.A.
Destination, Rates & Speeds

6.

Antill, Nick (Contributor)/ Lee, Kenneth
Published by Harriman House Pub (2008)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 1
Seller:
Revaluation Books
(Exeter, United Kingdom)
Rating
[?]

Book Description Harriman House Pub, 2008. Hardcover. Book Condition: Brand New. 2nd revised edition. 430 pages. 9.50x6.50x1.25 inches. In Stock. Bookseller Inventory # __190564177X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 40.39
Convert Currency

Add to Basket

Shipping: US$ 7.91
From United Kingdom to U.S.A.
Destination, Rates & Speeds

7.

Nick Antill Kenneth Lee M.a
Published by Harriman House Publishing
ISBN 10: 190564177X ISBN 13: 9781905641772
New Quantity Available: 3
Seller:
Majestic Books
(London, ,, United Kingdom)
Rating
[?]

Book Description Harriman House Publishing. Book Condition: New. Bookseller Inventory # 6502058

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 41.09
Convert Currency

Add to Basket

Shipping: US$ 7.25
From United Kingdom to U.S.A.
Destination, Rates & Speeds

8.

Kenneth Lee; Nick Antill
Published by Harriman House (2008)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 1
Seller:
Irish Booksellers
(Rumford, ME, U.S.A.)
Rating
[?]

Book Description Harriman House, 2008. Hardcover. Book Condition: New. book. Bookseller Inventory # M190564177X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 50.82
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

9.

Nick Antill, Kenneth Lee M.a
Published by Harriman House (2008)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: 1
Seller:
Ergodebooks
(RICHMOND, TX, U.S.A.)
Rating
[?]

Book Description Harriman House, 2008. Hardcover. Book Condition: New. 2nd. Bookseller Inventory # DADAX190564177X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 48.53
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

10.

Lee, Kenneth
Published by Harriman House (2017)
ISBN 10: 190564177X ISBN 13: 9781905641772
New Hardcover Quantity Available: > 20
Print on Demand
Seller:
Murray Media
(North Miami Beach, FL, U.S.A.)
Rating
[?]

Book Description Harriman House, 2017. Hardcover. Book Condition: New. Never used! This item is printed on demand. Bookseller Inventory # 190564177X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 53.69
Convert Currency

Add to Basket

Shipping: US$ 1.99
Within U.S.A.
Destination, Rates & Speeds

There are more copies of this book

View all search results for this book