SEDONA, Ariz., Dec. 10, 2004 (PRIMEZONE) -- Accounting scandals have dominated headlines in recent years, as numerous corporations have been accused of manipulating their financial records. For the layman to understand the basics of accounting, Leon Haller presents Making Sense of Accounting Information: A Practical Guide to Understanding Financial Reports and Their Use (now available through AuthorHouse).
Perfect for potential investors, employees who wish to comprehend business accounting statements or citizens who want to grasp the gravity of recent scandals, Making Sense of Accounting Information offers clear, concise explanations of the often tricky and confusing world of financial data. Haller focuses on transactions familiar to all business, then breaks them down to explain the classification systems in accounting and the way managers, creditors and shareholders analyze the numbers. Haller expertly guides readers through the meanings of certain financial report figures and how they determine a company's risk to investors.
Readers with little or no knowledge of accounting practices learn about established, fundamental principles that make viewing reports comprehensible and informative. By using real-life cases, Haller offers creative explanations for complex ideas, and translates data into a financial perspective. Thus the WorldCom manipulation of expense figures and balance sheet enhancement can be understood, he claims, as the background to deceptive stock valuation.
An insightful guidebook, Making Sense of Accounting Information empowers novices as well as business professionals to understand commonly used reports.
Haller has a master's degree in economics from Stanford University. One of the first Peace Corps volunteers to go to Peru, he worked on developing a savings and loan system. Subsequently, he was a program and loan officer in the Latin American Division of the Agency for International Development, U.S. State Department. He received formal training as a stock analyst at Standard & Poor, and subsequently was a corporate finance analyst on Wall Street. He taught corporate finance and securities analysis for five years at the University of Massachusetts, Boston and Babson College. The author of more than a dozen articles, he also wrote Financial Resources Management of Nonprofit Organizations. He is a former president of the Massachusetts Accountants in the Public Interest.
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