Professor Baruch Lev discusses the evolution of financial reporting
— November 2, 2015
Excerpt from The Wall Street Journal -- "In analyzing financial reports and quarterly conference calls at some 3,000 companies over the past 50 years, Baruch Lev, an accounting professor at New York University’s Stern School of Business, found that analysts have all but stopped asking about information in financial reports, like sales and earnings figures. They are now asking more questions about strategy and nonstandard metrics, such as customer churn or the impact of foreign currencies. 'The usefulness of financial information to investors decreased tremendously over the last 20 to 30 years,' Mr. Lev said, adding that companies don’t say enough about intangible assets, such as patents and brands, that can drive their business."