Accounting for Financial Instruments
Juan Ramirez, BNP Paribas, author of ‘Accounting for Derivatives’
‘Cormac Butler has written a very timely book, with fair value accounting being heavily criticised as a major contributor to the recent banking crisis. More generally, accounting for complex instruments and practices such as securitisation is neither simple nor widely understood. This book is an extremely lucid and full account of the myriad of current practices, which explains why financial institutions can declare a range of profits in the same situation. Whilst covering a wide canvas, Cormac has also made the topic very readable with many interesting case-studies. I would strongly recommend this book to anybody wishing to understand how modern financial instruments are treated by the accountants.’
Richard Flavell, author of ‘Swaps and other Derivatives’.
298 pages; ISBN 9780470743751
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Title: Accounting for Financial Instruments
Author: Cormac Butler