Accounting

The book is very tedious to read and is extremely poorly arranged. The CD is useless. The author demonstrates a great knowledge of what he is writing, but has not presented it in an engaging and coherent form. The most important concepts are mixed and buried throughout the book and must be reconstructed by the reader. The reader does develop a feel for how complex international tax avoidance is and an understanding how excellent advice could cost hundreds of dollars an hour. The summary of it is, there are some legitimate opportunities for legitimate companies conducting legitimate businesses. However, most schemes while skirting the letter of the law violate the spirit of the law and are therefor, illegal. The temptation arises with foreign governments in search of hard currency, willing to hide activities from the IRS. However, international agreements are slowly removing these veils.

A very useful guide to the ones who want to either take advantage of the opportunities some countries offer and to know more about it. Beautifully and exhaustively written, with lots of examples, it is an essential guide. Even to the ones who, not living in the United States or in a common-law country, want to save money and optimize their businesses.

As an MBA student who is concentrating his studies in the field of accounting, I have found FASB's to be a most valuable resource when researching. I highly recommend this source book.