Rodriguez Pardina, MartinSchlirf Rapti, RichardGroom, Eric2012-05-252012-05-252008978-0-8213-7179-4https://hdl.handle.net/10986/6426The Enron crisis offered a dramatic reminder to regulators around the world that reliable accounting standards are essential for markets to work efficiently and fairly. Harvey Pitt, chairman of the regulatory agency responsible for the monitoring of accountants in the United States (the Securities and Exchange Commission) from 2001 to 2003, argued that the crisis revealed two problems with accounting that needed to be addressed by the regulators. The first problem is that the accountants may have gotten some of the accounting wrong. The second, and more important, problem is that they may have gotten a lot of the accounting right. This volume describes a set of rules with which utilities monopolies should be able to comply without threat to a fair return on their business, while at the same time ensuring the accountability of all players. Regulators in many member countries of the organization for economic co-operation and development and in the electricity sector in many developing countries use these rules. There is no reason why they should not be of value to regulators of all public service providers that enjoy strong residual monopoly rights. Ultimately, this book is about rules for maintaining the minimum level of accountability needed to achieve fair treatment of investors, operators, users, and taxpayers alike and to prevent preferential treatment of the stakeholder with the highest political leverage at any point in time.en-USCC BY 3.0 IGOACCOUNTANTACCOUNTANTSACCOUNTINGACCOUNTING APPROACHACCOUNTING EQUATIONACCOUNTING POLICIESACCOUNTING PRACTICESACCOUNTING PRINCIPLESACCOUNTING RULESACCOUNTING STANDARDSACCOUNTING SYSTEMSACCOUNTING TREATMENTACCOUNTS PAYABLEACCOUNTS RECEIVABLEACCRUAL ACCOUNTINGASSET BASEASSET RATIOAUDITINGAUDITORSBALANCE SHEETBALANCE SHEETSBANK ACCOUNTBANK ACCOUNTSBANK LOANSBANKRUPTCYBEST PRACTICEBEST PRACTICESBONDSBUDGETARY CONSTRAINTSBUSINESS ASSOCIATIONSBUSINESS FORECASTINGBUSINESS OPERATIONSCALCULATIONCAPITAL EXPENDITURECAPITAL GAINSCAPITAL STRUCTURECAPITALIZATIONCASH FLOWCASH FLOWSCASH INFLOWSCASH PAYMENTSCASH RESERVESCHARTS OF ACCOUNTSCHECKSCOLLECTION PROCESSCOMMON STOCKCONTRACTUAL RELATIONSHIPCONTRIBUTIONCONTRIBUTIONSCOST [ACCOUNTINGCOST ACCOUNTINGCOST ALLOCATIONCOST ANALYSISCOST EFFICIENCYCOST SAVINGSCREDITORSCREDITWORTHINESSCURRENCYDEBTDEBTSDEPRECIATIONDEVELOPING COUNTRIESDIRECT COSTSDISCLOSURE IN ACCOUNTINGDISPUTE RESOLUTIONEARNINGSECONOMIC ACTIVITIESECONOMIC COSTSECONOMIC EFFICIENCYEQUIPMENTEXCHANGE COMMISSIONEXPENSE ACCOUNTSFAIR VALUEFINANCESFINANCIAL ACCOUNTINGFINANCIAL ACCOUNTING STANDARDSFINANCIAL COMMUNITYFINANCIAL COSTSFINANCIAL DATAFINANCIAL INFORMATIONFINANCIAL PERFORMANCEFINANCIAL POSITIONFINANCIAL REPORTINGFINANCIAL REPORTING STANDARDSFINANCIAL REPORTSFINANCIAL STATEMENTFINANCIAL STATEMENTSFINANCIAL SUSTAINABILITYFIXED ASSETFIXED ASSETSFIXED COSTSFOREIGN CURRENCYFUTURE CASH FLOWSGAAPGOVERNMENT POLICYGOVERNMENT SECURITIESHUMAN RESOURCESINCOMEINCOME TAXINCOME TAXESINDIRECT COSTSINFORMATION ASYMMETRYINFORMATION DISCLOSUREINFORMATION SYSTEMINFORMATION SYSTEMSINITIAL CAPITALINSTRUMENTINTANGIBLEINTANGIBLE ASSETSINTEREST EXPENSEINTERNAL RATE OF RETURNINTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL BANKINVENTORYINVESTINGLACK OF INFORMATIONLATIN AMERICANLEGAL DRAFTINGLEGAL FRAMEWORKLEGAL OBLIGATIONLEGAL OBLIGATIONSLENDERSLIABILITYLIQUIDATIONLIQUIDITYLIQUIDITY RATIOLOANLONG-TERM ASSETSLONG-TERM DEBTLONG-TERM GOALLONG-TERM LIABILITIESLONG-TERM LOANSMAINTENANCE COSTSMARGINAL COSTSMARKET FAILUREMARKET SHAREMARKET VALUEMARKETINGMATURITYMERGERSMONEY MARKETNET ASSETSNET WORTHPOTENTIAL INVESTORSPRICE INDEXPRICE STABILITYPRODUCTIVITYPROFIT MARGINSRATE OF RETURNREGULATORY AUTHORITYREGULATORY FRAMEWORKREGULATORY PRACTICEREGULATORY SYSTEMRENTSRETAIL PRICERETURNSSALARIESSALESALESSALES EXPENSESSAVINGSSECURITIESSENIORSETTLEMENTSHAREHOLDERSSHORT-TERM DEBTSOCIAL SECURITYSOURCE OF INFORMATIONSTAKEHOLDERSTAKEHOLDERSSTOCK EXCHANGESSTOCKSTANGIBLE ASSETSTAX RATETAXABLE INCOMETELECOMMUNICATIONSTERMINATIONTOTAL COSTTRADINGTRANSACTIONVALUABLEVALUATIONWorld Bank10.1596/978-0-8213-7179-4