I probably do not need to emphasise that meaningful accounting standards and their effective implementation are highly relevant to any central bank’s responsibilities for financial stability. They help to ensure the safe and efficient functioning of the financial system. So it is essential that accounting standards have a clear economic rationale, promote comparability and secure adequate discl...

the study aims to reveal that a valid and effective standard, which formerly issued, may reflect the needs and expectation of few interested powerful bodies due to the neutral comments and dearth of lobbyists in the process of setting the standard. the research investigates the working of the iasb, by exploring the standard setting process specifically in relation to the standard on business co...

In Germany, financial pressure and a lack of efficiency have caused the need for several reform processes in the local governments of German municipalities. These local governments are facing a growing contradiction between decreasing levels of financial support and increasing responsibilities. In order to address this tension, municipalities are starting to change their accounting systems by i...

Government regulation of financial reporting by publicly listed firms, coupled with a punitive regime for violation of generally accepted accounting principles (GAAP), has been in place in the United States for seven decades. Whether this regime is effective or useful is an open question, especially in the absence of data on the behavior of unregulated economies. Privacy disclosure in e-commerc...

In February 2006, the Chinese Ministry of Finance formally announced that, from 2007 onwards, the Chinese Accounting Standards (CAS) would be converging with International Accounting Standards (IAS). This significant step towards international accounting harmonization, for the purpose of attracting foreign investment, invokes the question as to whether the newly implemented IAS will indeed achi...

This study investigates whether harmonization of accounting standards enhances the comparability of …nancial information across countries. First, I statistically de…ne and link comparability to …rm value in a two-…rm, sequential information release framework. I then empirically test the prediction that a …rm yet to announce earnings reacts more strongly to the earnings announcement of a foreign...

As part of a future international accounting standard, the USA Financial Accounting Standards Board and UK International Accounting Standards Board recently updated their description of the financial reporting information characteristics that determine its decision usefulness for end users. Yet the relationships inherent in the description have not been empirically validated. If invalid, the de...