The Failure and the Future of Accounting: Strategy, Stakeholders, and Business Value

David Hatherly rethinks accounting in the light of the financial crisis which exposed its limitations. Financial institutions reported increasing profits and healthy balance sheets whilst their business models undermined their own financial health and the economy. Accounts failed to provide feedback on business performance.This failure highlighted the need for alignment between business and accounting models. To understand business performance we need to know about value: how much is create...