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Author: Shyam Sunder
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Most financial reporting jurisdictions across the world allow a local monopoly in financial reporting standards for publicly held corporation. In the United States, for example, the statutory authority over these standards is vested in the Securities and Exchange Commission, who delegates the task of writing standards to the Financial Accounting Standards Board, retaining an oversight function for itself. In some countries these standards are specified through statutes in varying levels of detail. Few countries permit their corporations to choose among two or more sets of competing standards; monopoly is the reigning norm.This paper examines regulatory competition as a model for writing and implementing corporate financial standards. Under this model, two or more approved standard-setting bodies are allowed to compete for the allegiance of the reporting entities. Each corporation can choose which of the two or more sets of competing standards it wishes to use in preparing its financial reports. Corporations must choose an entire set of standards in toto, clearly mark the reports with the set of standards used to prepare them, and pay a fee to the body who wrote the standards. We examine the consequences of such regulatory competition for the quality and efficiency of standards, quality of information provided to shareholders and other interested parties, and the efficiency of corporate governance and managerial actions. A debate on the merits of monopoly versus competitive standards may help direct the formation of national and international regimes for setting accounting standards.
Author: Shyam Sunder
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Most financial reporting jurisdictions across the world allow a local monopoly in financial reporting standards for publicly held corporation. In the United States, for example, the statutory authority over these standards is vested in the Securities and Exchange Commission, who delegates the task of writing standards to the Financial Accounting Standards Board, retaining an oversight function for itself. In some countries these standards are specified through statutes in varying levels of detail. Few countries permit their corporations to choose among two or more sets of competing standards; monopoly is the reigning norm.This paper examines regulatory competition as a model for writing and implementing corporate financial standards. Under this model, two or more approved standard-setting bodies are allowed to compete for the allegiance of the reporting entities. Each corporation can choose which of the two or more sets of competing standards it wishes to use in preparing its financial reports. Corporations must choose an entire set of standards in toto, clearly mark the reports with the set of standards used to prepare them, and pay a fee to the body who wrote the standards. We examine the consequences of such regulatory competition for the quality and efficiency of standards, quality of information provided to shareholders and other interested parties, and the efficiency of corporate governance and managerial actions. A debate on the merits of monopoly versus competitive standards may help direct the formation of national and international regimes for setting accounting standards.
Author: Shyam Sunder
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
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Book Description
Most financial reporting jurisdictions across the world allow a local monopoly in financial reporting standards for publicly held corporations. In the U.S., for example, the statutory authority over these standards is vested in the Securities and Exchange Commission (SEC), who delegates the task of writing standards to the Financial Accounting Standards Board, retaining an oversight function for itself. In some countries these standards are specified through statutes in varying levels of detail. Few countries permit their corporations to choose among two or more sets of competing standards; monopoly is the reigning norm. This paper examines regulatory competition as a model for writing and implementing corporate financial standards. Under this model, two or more approved standard setting bodies are allowed to compete for the allegiance of the reporting entities. Each corporation can choose which of the two or more sets of competing standards it wishes to use in preparing its financial reports. Corporations must choose an entire set of standards in toto, and clearly mark the reports with the set of standards used to prepare them. We examine the consequences of such regulatory competition for the quality and efficiency of standards, quality of information provided to shareholders and other interested parties, and the efficiency of corporate governance and managerial actions. A debate on the merits of monopoly versus competitive standards may help direct the formation of national and international regimes for setting accounting standards.
Author: Gary Previts
Publisher: Elsevier
ISBN: 0080453805
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
The scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies; including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board [US], the Financial Accounting Standards Board [US] and the International Accounting Standards Board. These entities and self-regulatory organizations such as U.S. State Societies of CPAs and the American Institute of Certified Public Accountants and equivalent and emerging national bodies that exist in most developed and developing countries, are among the emerging entities which attempt to coordinate the activities of professional accountants among sovereign nations. It is important for academics, students, practitioners, regulators and researchers to consider and study the role and relationship of such bodies with the practice and content of our discipline. Main feature examines developments in accounting regulation Papers provide an international perspective on accounting and finance issues Volume 19 contains main papers, research reports, a feature, capsule commentary, perspectives, and book reviews
Author: Sebastian Botzem
Publisher: Edward Elgar Publishing
ISBN: 1781001065
Category : Law
Languages : en
Pages : 233
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Book Description
'How and why do transnational regulatory bodies emerge? How do they acquire the authority and confidence to be actors in their own right? These questions preoccupy scholars in many disciplines and Sebastian Botzem's The Politics of Accounting Regulation makes an important contribution to the debates. Focusing on the case of the International Accounting Standards Board over a critical period of its development including the financial crisis Botzem addresses its evolution as an organization which produces accounting standards and whose efforts to be outside politics are inevitably and irredeemably political in nature. This book is essential reading for sociologists, political scientists, accountants and anyone else interested in the organization of global governance.' Michael Power, London School of Economics, UK The financial crisis underlines the relevance of accounting standards as much more than instrumental rules for corporate reporting. This important book outlines the accounting standards that embody societal and professional values and contribute to the distribution of financial benefits that put international harmonization of standards into the limelight. Sebastian Botzem reveals that international standards have emerged after decades of contest and political bargaining which resulted in closely aligned standards, voluntary consultation procedures and a network structure comprising actors mainly stemming from global auditing firms, regulators and international organizations.
Author: Carien van Mourik
Publisher: Routledge
ISBN: 1136243496
Category : Business & Economics
Languages : en
Pages : 495
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Book Description
Financial accounting, reporting and regulation is a vast subject area of huge global importance, with interest rising significantly in the light of the ongoing global financial crisis. The authors begin with a broad overview of the subject of accounting, setting the stage for a discussion on the theoretical and practical issues and debates regarding financial reporting, which are expanded on in the second part of the book. This includes how to define the reporting entity, recognition and measurement of the elements of financial statements, fair values in financial reporting and the costs and benefits of disclosure. The third part assesses the interest, need and theories behind the accounting, reporting and regulation industry, while parts four and five look at the institutional, social and economic aspects; with issues such as accounting for environmental management and, accounting regulation and financial reporting in Islamic countries, both issues of ever increasing importance. This authoritative Companion presents a broad overview of the state of these disciplines today, and will provide a comprehensive reference source for students and academics involved in accounting, regulation and reporting.
Author: Kees Camfferman
Publisher: Oxford University Press, USA
ISBN: 0199646317
Category : Business & Economics
Languages : en
Pages : 689
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Book Description
This book provides a historical study of the body that sets International Financial Reporting Standards (IFRSs) - the basis for financial reporting. It provides extensive background information to help practitioners, policy-makers, researchers, and educators form a deeper understanding of the people, the forces, and events that have shaped IFRSs.
Author: Stephen R. Moehrle
Publisher: Emerald Group Publishing
ISBN: 1781907641
Category : Business & Economics
Languages : en
Pages : 298
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Book Description
Accounting scandals such as Enron and WorldCom ushered in several regulatory overhauls including Sarbanes-Oxley. This monograph summarizes and synthesize a decade of academic research to develop an evolving dominant explanation around these myriad changes.
Author: Mohammad Nurunnabi
Publisher: Routledge
ISBN: 1317017145
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
Dr Mohammad Nurunnabi examines the factors that affect the implementation of International Financial Reporting Standards (IFRS) in developing countries and answers these specific research questions: - What is the relative impact of accounting regulatory frameworks and politico-institutional factors on the implementation of IFRS in developing countries? - How do cultural factors affect said implementation? - How does a study of implementing IFRS help to build an understanding of a theory of the role of the state in accounting change in developing countries? This follows a mixed methodology approach, in which interviews are conducted, IFRS-related enforcement documents and annual reports are evaluated. More than 138 countries have adopted IFRS, yet the International Accounting Standards Board (IASB) does not provide an implementation index. Financial reporting varies by country, even within the area of the world that has apparently adopted IFRS and Nurunnabi offers an important viewpoint that considers the issues of IFRS implementation from various perspectives. This is an invaluable resource for Undergraduate, Masters and PhD students, policy makers (at local, regional and international level) namely the IASB, World Bank, IMF, practitioners and users, giving them the necessary insight into the financial reporting environment and the state’s attitude towards accounting transparency. Most importantly, this book contributes to military and democratic political regimes and the Max Weberian view of the theory of the role of the state’s attitude towards accounting transparency.
Author: Masatsugu Sanada
Publisher: Routledge
ISBN: 1000710807
Category : Business & Economics
Languages : en
Pages : 143
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Book Description
Little has been published on accounting standards in Japan and how they have developed. The purpose of this study is to construct a historical narrative of the interplay between accounting standards in Japan and theories of regulation. The authors demonstrate that delegation of the authority for accounting standard setting to the private sector in Japan is incomplete, and thus, the role of the public sector remains important. In the discussion about IFRS implementation in Japan, the movement in the United States, industry opinions, and ideological conflict between fair value versus historical cost play important roles. These elements combined led to the ambiguous coexistence of four sets of accounting standards in Japan. First, by using an explaining-outcome process-tracing method, the authors examine how these sets of standards occurred and explore the significance of each. Second, they deliver an explanation of this unique coexistence through the lens of theories of regulation. In doing so, they provide an overview of the history of the recent development of accounting regulation in Japan and offer an up-to-date response to current affairs or policy debates in Japan that have been rapidly changing. Providing a rare insight into accounting regulation in Japan, an IFRS non-application country, this concise text will be of great interest to researchers and advanced students in international accounting and accounting regulation.
Author: Compiled by the British Library of Political and Economic Science
Publisher: Routledge
ISBN: 1134340036
Category : Business & Economics
Languages : en
Pages : 675
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Book Description
First published in 1952, the International Bibliography of the Social Sciences (anthropology, economics, political science, and sociology) is well established as a major bibliographic reference for students, researchers and librarians in the social sciences worldwide. Key features * Authority: Rigorous standards are applied to make the IBSS the most authoritative selective bibliography ever produced. Articles and books are selected on merit by some of the world's most expert librarians and academics. *Breadth: today the IBSS covers over 2000 journals - more than any other comparable resource. The latest monograph publications are also included. *International Coverage: the IBSS reviews scholarship published in over 30 languages, including publications from Eastern Europe and the developing world. *User friendly organization: all non-English titles are word sections. Extensive author, subject and place name indexes are provided in both English and French. Place your standing order now for the 2003 volumes of the the IBSS Anthropology: 2002 Vol.48 December 2003: 234x156: Hb: 0-415-32634-6: £195.00 Economics: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32635-4: £195.00 Political Science: 2002 Vol.51 December 2003: 234x156: Hb: 0-415-32636-2: £195.00 Sociology: 2002 Vol.52 December 2003: 234x156: Hb: 0-415-32637-0: £195.00
