It's time for managers to embrace the capital markets

摘要

For the first time, we are presenting in Accounting Today this edited excerpt from the prologue to Quality Financial Reporting, a book we published in 2002. Our goal is to stimulate new thinking about financial reporting issues and encourage far more productive attitudes and behaviors. The vice president of personnel of a major business is talking to the executive committee about a number of employee-related problems. The VP proposes implementing a "human resource management" or HRM system that will identify good candidates for employment, train them, provide them with attractive benefits, nurture them during their careers, and otherwise build a solid relationship with the workforce. The other executives, used to facing down unions and enduring frequent strikes, manage to stifle any incredulous comments, ask no questions, and turn to the next agenda item with no action taken.