Post Satyam scam, investors are now seeking a satisfactory explanation regarding the discrepancies that led to this grave fraud and how this fraud may impact their investments. Covering all the answers to such questions and other finer points, the January 26 issue of the Businessworld Magazine has presented an impressive cover story titled, “Ghosts in Balance Sheets”. As the title suggests, it is all about the Satyam scam. The cover story presents a detailed view of how different government and accounting agencies are approaching this matter. Academics, regulators and analysts call this creative accounting, while managers call it Generally Accepted Accounting Principles (GAAP). In order to present a clear picture of the scam, the cover story is divided into two parts parts titled, “Hidden From View” and a “Guest Coloum”.

The story, Hidden From View, offers a point wise presentation of the ways of making a company more transparent. It also offers examples of companies following a transparent process. One such example stated in the story is the Ghaziabad-based company, Dabur. Dabur sends the full annual report to all shareholders, and also voluntarily sends them a half-yearly report. The guest column by Saurabh Mukherjea gives the point wise presentation of the ways for avoiding such scams in future. Stronger accounting rules, better market regulation and stronger independent directors are some of the points suggested by him. On whole, the cover story has been written in a language that even a layman can understand easily. This becomes even more important when the subject in question is quite complicated for a common man to comprehend.

Apart from the cover story, what makes this magazine worth reading are the stories related to the cover story. A story titled “Defying Logic” talks about the fact that despite Satyam’s collapse, people still traded in its shares. Adding to the season of fraud is the story titled, “It Happens Only In India!” This story deals with the fraud that occurred in a painting exhibition.

The magazine also talks about other major happenings all around the world. The story titled “Agent of Hope” talks about the challenges in front of the 44th President of the US, Barack Hussein Obama. On the other hand, the story titled, “Truce Not Yet” deals with the facts behind the reports of a patch-up between the Ambanis. One of the most interesting features of this issue is that it offers reviews of the must read books under its bookmark section. “The Partnership A History of Goldman Sachs” by Charles D. Ellis and Penguin, “Sex and Power Defining History, Shaping Societies” by Rita Banerji, and “The Next 100 Years: A Forecast For The 21st Century” by George Friedman are a few to name. Apart from this, the magazine also contains stories related to politics,sports, science, agriculture, and environment.