The End of Accounting and the Path Forward for Investors and Managers

Praise for The End of Accounting
and the Path Forward for Investors and Managers

"Utilizing and valuing intangible assets is essential for companies′ investment and capital allocation decisions. This book proposes a thoughtful approach for managers and investors to appraise intangibles and thereby more accurately assess a company′s value and performance. It′s an important book for business leaders to read."
Samuel J. Palmisano, Former Chairman, CEO, and President, IBM

"Reading this amazing book, I was reminded of Bill James′ revolution in the analysis of baseball (Sabermetrics), celebrated in the book and movie Moneyball. Baruch Lev and Feng Gu argue for similar revolution in securities′ analysis, where the financial stakes are orders–of–magnitude higher and the economic implications infinitely greater. The authors take us gently by the hand and escort us through every key aspect of their stunning case with a rare combination of clarity, humor, and scholarly authority to be acted upon by investors and managers."
Gene Epstein, Economics and Book Editor, Barron′s

"The authors have identified an important area for investors the accounting and reporting distortions of the actualities of businesses. They do an excellent job proposing ways to overcome these distortions. All investors should be cognizant of the issues presented in this book."
Win Murray, Director of Research, Harris Associates L.P.

"This is one of those rare accounting and finance books that is both thought–provoking and visionary. The authors propose and demonstrate an exciting and highly practical new direction for corporate reporting and investment analysis, focusing on the value– creating resources of the enterprise. An essential reading for investors, accountants, and standard–setters."
Allister Wilson, Global Audit Partner, Ernst & Young LLP

"A thought–provoking book on how to make accounting and financial reporting more relevant to investors, where intangible assets play a key role."
Josef Lakonishok, CEO, LSV Asset Management

BARUCH LEV is the Philip Bardes Professor of Accounting and Finance at the NYU Stern School of Business. He has authored more than 100 research studies and five books, including Winning Investors Over.

FENG GU is an Associate Professor and Chair of the Department of Accounting and Law at the University at Buffalo. He has written numerous articles for top research journals.