# Professor Baruch Lev's book, "The End of Accounting," is highlighted

1 Faculty News February 26, 2018 ![Harvard Business Review logo](/sites/default/files/styles/246w/public/assets/images/con_032358.jpg?itok=cHztGP4H)>

Excerpt from the [Harvard Business Review](https://hbr.org/2018/02/why-financial-statements-dont-work-for-digital-companies) -- "In the 2016 book The End of Accounting, NYU Stern Professor [Baruch Lev](http://www.stern.nyu.edu/faculty/bio/baruch-lev) claimed that over the last 100 years or so, financial reports have become less useful in capital market decisions. Recent research lets us make an even bolder claim: accounting earnings are practically irrelevant for digital companies. Our current financial accounting model cannot capture the principle value creator for digital companies: increasing return to scale on intangible investments."

[Read more](https://hbr.org/2018/02/why-financial-statements-dont-work-for-digital-companies)