Here are 100 books that Accounting for M&A fans have personally recommended if you like
Accounting for M&A.
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As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
This is not a book on techniques of accounting for M&A, but about why governments need to hold to account large companies seeking dominance of markets through M&A and other means.
It explores the socially harmful impacts of some mergers, such as exacerbating inequality and subverting democracy. It is rich in case evidence and combines law and economics in a vigorous, lucid critique of past governments’ permissive attitudes towards corporate merger. Wu has acted as Special Assistant to President Biden on competition policy.
From the man who coined the term "net neutrality," comes a warning about the dangers of excessive corporate and industrial concentration for our economic and political future.
We live in an age of extreme corporate concentration, in which global industries are controlled by just a few giant firms―big banks, big pharma, and big tech, just to name a few. But concern over what Louis Brandeis called the "curse of bigness" can no longer remain the province of specialist lawyers and economists, for it has spilled over into policy and politics, even threatening democracy itself. History suggests that tolerance of inequality…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
With its "buy and sell" model, the Private Equity industry – which commentators have variously described as the ‘billionaire factory’ and "irresponsible locust swarms" – is responsible for a large and growing share of M&A activity. The businesses held by just two of its members employ some one and a half million people.
Phalippou draws on many years of distinguished research to demystify the secretive industry’s methods and accounting – rigorous explanations leavened by fascinating case studies and appealing humour.
This is version 2.6 (both Kindle and hard copy; Audiobook is following the first edition)! Designed for an MBA course on private equity, this textbook aims to familiarize any reader with the jargon and mechanics of private markets using simplified examples, real-life situations and results from thorough academic studies. The intention is to have a book that can be read more like a novel than like a regular textbook. In order to have long-lasting impact on readers, I believe in making things as simple as possible, boiling everything down to the essence, going straight to the point, and, most importantly,…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
This is a deeply researched and highly readable story of hubris and nemesis at a business giant.
It includes the role of accounting manipulation in its startling narrative of the rise and decline of GE, at its peak the most valuable company in the world, led by a CE dubbed the ‘manager of the century’. Important in its rise was a focus on ‘the all-important [accounting] earnings per share results that made Wall Street swoon’, resulting in a high and rising share price and the highest credit rating – both facilitating a spree of mergers (almost 1,000 in the two decade tenure of CEO Welch).
The authors detail a range of accounting devices used to manipulate earnings, including misreporting inventory and artificially altering the timing of revenue.
This is the definitive history of General Electric's epic decline, as told by the two Wall Street Journal reporters who covered its fall.
Since its founding in 1892, GE has been more than just a corporation. For generations, it was job security, a solidly safe investment, and an elite business education for top managers.
GE electrified America, powering everything from lightbulbs to turbines, and became fully integrated into the American societal mindset as few companies ever had. And after two decades of leadership under legendary CEO Jack Welch, GE entered the twenty-first century as America's most valuable corporation. Yet, fewer…
As an economics student I was told that corporate merger would typically enhance financial performance, because of scale economies, market power or the acquirer’s superior management. As an auditor of recently acquired firms I found disorganization, demoralised staff, and weak profits. As a researcher I found that most mergers had failed to boost profitability, a finding that was mostly replicated by researchers over the subsequent 40 years. In the meantime, helped by my co-author, one of my aims has been to provide an explanation of this evidence, recounted in ‘my book.’ I’m an academic ‘lifer’ at Cambridge University – latterly Professor of Financial Accounting and Acting Dean of Cambridge’s Judge Business School.
These three authors were brought in in 1990 to lead accounting standard-setting in the UK.
At the time, company accounts – especially those of merging companies - were a ‘laughing stock’, with profits often wildly overstated and debt materially understated. Against the expectation of many, they managed to outlaw companies’ preferred (profit-enhancing) accounting for M&A – ‘a triumph of diplomacy as well as intellectual ingenuity’ in the words of the Financial Times. The US and international standard-setters have since come close to adopting the same solution – but in the end have never quite dared.
The book combines rigorous discussion of technical accounting with light and lively discussion of the challenges and fights in which they engaged.
In the late 1980s, financial accounting in Britain was in disarray. 'Creative' accounting was rife. The authority of the industry's standard-setters had been drastically compromised when their rules for inflation accounting were first ignored by many firms and then abandoned. There were calls for government to replace the accountants' self-regulation with a tough regulatory regime close to the American model. Also, rapid change in the financial industry was generating complex new financial schemes for which existing accounting standards were inadequate. This book tells the story of the next decade: the problems the standard-setters faced, both technical and political, the resistance…
Early in my career I landed a job as a magazine editor. Shazam! I could publish my own articles! But I discovered that I actually had no idea how to write anything interesting, English major though I’d been. So I began to figure out what makes writing work. Over decades as a journalist, corporate communicator, and consultant, I did learn. I also saw colleagues miss their best opportunities, even screw up their lives, by writing badly—unpersuasively. And a mission was born: to share the tools and techniques of powerful communication. I’ve created dozens of workshops for businesspeople and professionals, taught graduate students, and now happily author books jammed with practical advice.
Warren Buffet, the famous investor, is also revered as a master communicator. His annual Letters to Berkshire Hathaway Shareholders are models of clear, transparent writing. They are the best showcases I know for the impact of presenting difficult material in “plain English.” Buffet makes financial information accessible and even interesting to the layperson with an unassuming colloquial tone, humor, anecdotes, and language based on the concrete short words of natural speech. He always delivers substance, even acknowledging his own poor decisions.
The enviable result: he generates trust, the critical ingredient of persuasion. I love introducing students to Buffet’s writing and seeing them analyze what works so well. The letters are available online, but this book usefully collects them along with other Buffet writings and commentary.
The fifth edition of The Essays of Warren Buffett: Lessons for Corporate America continues a 25-year tradition of collating Warren Buffett's philosophy in a historic collaboration between Mr. Buffett and Prof. Lawrence Cunningham. As the book Buffett autographs most, its popularity and longevity attest to the widespread appetite for this unique compilation of Mr. Buffett’s thoughts that is at once comprehensive, non-repetitive, and digestible. New and experienced readers alike will gain an invaluable informal education by perusing this classic arrangement of Mr. Buffett's best writings.
“Larry Cunningham has done a great job at collating our philosophy.”—Warren Buffett
Golf has been part of my life almost since I can remember. I started as a caddie at a local country club and did that through college. I earned a college scholarship called the Evans Scholarship—named for the great amateur golfer Charles “Chick’’ Evans—and then somehow went into a sportswriting career that has included covering golf for various publications, including ESPN and Sports Illustrated. Needless to say, I love the game, and reading about it and exploring other voices is a big part of my growth. While I’ve never played the game with much success, the pursuit continues.
In my own way, I lived this book. As a writer for Sports Illustrated, I chronicled the early beginnings of LIV Golf, the tension it brought to the PGA Tour, the defections of some of its top players to this upstart league that was paying huge sums and leading to disruption that still exists.
I appreciate the way Shipnuck handled this story. There is no agenda. He was critical of both sides, yet fair to both sides, trying to understand the motives. I appreciate this because the issue has been so toxic and so polarizing. It is a terrific read to understand where we are in the world of golf today.
Alan Shipnuck, the New York Times bestselling author of Phil, returns with a major new work of insider reporting on the battle for the soul of professional golf between the PGA Tour and the Saudi-funded LIV Golf League.
Over the past two years, professional golf has been at war, and Alan Shipnuck is our most trusted correspondent. Following closely on the heels of his New York Times bestselling sensation, Phil, Shipnuck turns to LIV Golf's controversial - and belligerent - storming of the professional golf world.
In LIV and Let Die, Shipnuck delivers the inside story in real time, with…
After graduating from the University of Illinois in 1989 with an LAS degree in communications and a knack for artwork, I had no idea what I wanted to do. That was until my brother pulled me from my low-paid art job in Chicago to work as a clerk on the floor of the Chicago Mercantile Exchange. I eventually became a trader on that same floor, as well as an oil and gas dealer in New York. Screaming and yelling in the trading pits while money moved back and forth with a shout and a hand signal I learned more about investing, trading, and human nature through osmosis than I ever could in an MBA course.
Though not a book about trading per se, this chronicle of the craziness surrounding the 1986 leveraged buyout of RJR-Nabisco is certainly worth a read.
It centers around the machinations of RJR-Nabisco’s breezy CEO, F. Ross Johnson, and how, apparently, being the head of one of America’s great companies wasn’t enough. The book really is as much a study of greed and ego as it is about what was, at the time, the most expensive LBO in history.
One gets the feeling the company in play, and its employees wondering what would be the impact on their lives once the negotiations way up in the New York corporate high rises were completed, were ancillary concerns to the players involved—Ross Johnson, American Express CEO and power publicist Jim and Linda Robinson, Shearson-Lehman head Peter Cohen, buyout specialist and anti-junk bond crusader Ted Forstmann, and the coldly menacing Henry Kravis and…
“One of the finest, most compelling accounts of what happened to corporate America and Wall Street in the 1980’s.” —New York Times Book Review
A #1 New York Times bestseller and arguably the best business narrative ever written, Barbarians at the Gate is the classic account of the fall of RJR Nabisco. An enduring masterpiece of investigative journalism by Bryan Burrough and John Helyar, it includes a new afterword by the authors that brings this remarkable story of greed and double-dealings up to date twenty years after the famed deal. The Los Angeles Times calls Barbarians at the Gate, “Superlative.”…
We first met about 10 years ago at Sheffield Hallam University, bonding as work colleagues over a love of enabling students to understand wealth management and finance in a way that we hoped they would find interesting and accessible. The books we chose mix our love of storytelling and making finance accessible by using real-world experiences. They do this in a unique way, challenging the reader to think about their understanding and perspective, something we try to do every day. It has been lovely to reread these books before writing the reviews, reminding us of what makes us tick. We hope they help you to find your tick too.
This compendium of authors writing around their specific expertise is a compelling read. However, I chose it specifically for one chapter, the chapter on "Communication Apprehension and Accounting Education."
Two of the authors of this chapter were my professors when I was at university and their novel approach to education and assessment, which was years before its time, laid the foundations for skills and behaviors I have used in both my commercial and academic life. Increasingly I see students and professionals who are not as successful in their career due to a lack of communication skills.
For me, this book provides a practical and thought-provoking approach for those looking to understand a fundamental component of the financial world in the 21st century.
One of the prime purposes of accounting is to communicate and yet, to date, this fundamental aspect of the discipline has received relatively little attention. The Routledge Companion to Accounting Communication represents the first collection of contributions to focus on the power of communication in accounting.
The chapters have a shared aim of addressing the misconception that accounting is a purely technical, number-based discipline by highlighting the use of narrative, visual and technological methods to communicate accounting information. The contents comprise a mixture of reflective overview, stinging critique, technological exposition, clinical analysis and practical advice on topical areas of interest…
As a corporate lawyer, I saw first-hand that corporations lack a comprehensive social and environmental conscience. I had begun to experiment with articles and bylaws when I met one of the founders of B-Lab, the creator of the B-Corp and architect behind the benefit corporation, in 2008. I have been working to upgrade the operating principles of the economy ever since. I was the co-chair of the legal working group for California’s benefit corporation legislation and my former law firm was one of the first law firms to become a B Corp. I’m highly motivated to leave a habitable planet to our children and grandchildren.
I was skeptical that a book about accounting could be entertaining.
Jane Gleason-White not only brings the history of double book entry accounting alive but also tells the story of how accountants are quietly leading the transformation to a sustainable economy. This transformation demands that we upgrade traditional accounting that only accounts for financial and industrial capital to account for benefits and detriments to the natural world and society.
To support a sustainable economy, accounting systems must include four additional categories of capital: intellectual, human, social, and relationship. A sustainable economy not only requires new economic principles and new corporate forms, but new accounting systems that account for all six capitals.
This is the story of a twenty-first-century revolution being led by the most unlikely of rebels: accountants. Only the second revolution in accounting since double-entry bookkeeping began, it is of seismic proportions, driven by the 2008 financial crash and our ongoing environmental crisis. The changes it will wreak are profound and far-reaching and not only will transform the way the world does business but also will alter the nature of capitalism.
While the wealth of nations and corporations has been vital to the global economy, increasingly the world is coming to realize that such endless growth is limited by the…
I’m Heather Smith and I love writing. I love Accounting and AccounTech. I gratefully sit at the Ikigai inflection point, where my profession, passion, vocation, and mission intersect, and I can use my explanation skills to empower others in the accounting industry. Ikigai is a Japanese concept referring to something that gives a person a sense of purpose, a reason for living. Believing Accountants don't save lives, Accountants save livelihoods; I use my superpower of explanation to educate the accounting profession about accounting technology and modern accounting practices. I do this through many channels including my latest book Xero for Dummies, 5th edition.
Della has a way of simply explaining what’s practically needed to run a modern practice. Like Della, I’ve built a modern practice and she has laid the steps to start and thrive in a clean and easy-to-follow manner. Hudson's writing style is engaging and accessible, making it easy to understand and apply the concepts presented. With personal anecdotes and asides littering the narrative, the book reads like a quiet meeting between friends over a nice cup of tea. Overall, The Numbers Business is an invaluable resource for anyone looking to build a successful cloud accounting practice.
This is the manual every qualified accountancy professional needs to read before setting up their own practice. Having applied her corporate experience to building a modern cloud accountancy practice, Della Hudson presents her road map to help you to do the same. Here, she shares her hard-earned knowledge so that other accountancy professionals can grow their own successful, scaleable and even sellable businesses. This book is a road map that will help a qualified professional to: start a successful business from scratch with no personal or business contacts; move from the kitchen table to an office space; recruit and train…
