Spanning over two millennia of time and five continents of space, this book narrates the unfolding of financial and business reporting. The first part of the book traces the origin of the 'company' as a form of organization and the evolution of bookkeeping. The second part: The Accounting Edifice, depicts events that led to the disclosure of the balance sheet, the profit and loss account, cash flow statements and the practice of auditing. In the third part: Reaching out to the Shareholders, the author explores the need for governance, reporting of intangible assets and the emergence of annual reports. Indian Corporate Disclosures, the fourth and the last part, sketches the panorama of post-independent dvelopments in Indian corporate disclosures using heritage IT companies, Wipro and Infosys as examples. The last chapter of the book contrasts disclosures by the Indian Sensex companies in 2007 with the best global practices.
Part I The Background 1. Birth of the Company: Not Indebted for Life 2. Accounting Comes of Age: From Counting to Accounting Part II The Accounting Edifice 3. The First Battle for the 'State of Affairs': To Bare or not to Bare 4. The Second Battle for Source of Profit: A Defeat for Mystery and Secrecy 5. The Third Battle for 'Comprehension': Completing the Communication Loop 6. The Fourth Battle for Credibility: Believe Me, Trust Me Part III Reaching out to the Shareholders 7. Governance: Wanted Sad, Discreet and Honest Individuals 8. Touching the Intangible: Feeling, not Touching Matters 9. Annual Report: From Rearview Mirror to Windscreen Part IV Indian Corporate Disclosures 10. Disclosures in Free India: Wipro, Disclosures from 1947 to 2007 11. Setting New Disclosure Standards: The Soft Edge of the 1990s 12. The Indian G-A-P: Towards Excellence in Disclosures