Appropriate for Financial Accounting Theory courses at both the senior undergraduate and professional master's levels. Written in a friendly style with clear explanations, Financial Accounting Theory provides a thorough presentation of financial accounting theories. This new edition continues to include coverage of accounting standards oriented to IASB standards as well as major U.S. accounting standards.
I thought that Accounting Information Systems was a sleep inducer, but I have been proved wrong by this gem. If ever I have a bout of insomnia, I shall pluck this book from my shelf and upon reading the first pages will either fall right asleep or my blood pressure shall rise exponentially.
Been madly in love with efficient security market, the oh so famous Ball and Brown study, and earning response coefficient.
Efficiency implies that market price reflect all the information (historical, all publicly known information, and inside information), consequently when market price fully reflect all available information, investor would stop gathering information cause the price is fully informative and only rely on market price as the best indicator of future security returns. Then whats the point of financial statement or Financial Statement analysis which costly?