This paper analyzes the effect of the Transparency Directive (TD) on interim reporting frequency in the European Union (EU). The TD defines the minimum content of annual and interim reports. In contrast to the USA, quarterly financial reporting is currently not mandatory in the EU. However,...

The process of preparing financial statements gives rise to numerous accounting choices. Understanding these choices is critical for an understanding of accounting practice. The 2005 transition to IFRS in Europe provides a unique opportunity for studying the forces and factors that shape...

In response to the financial crisis, the IASB issued on 13 October 2008 an amendment to IAS 39 which enables entities to reclassify non-derivative financial assets held for trading and financial assets available-for-sale. This paper examines the influence of this controversial amendment on the...

Although tax values of corporate assets and liabilities could provide useful information for various economic decisions, they are typically unknown to financial statement users. Additional corporate tax information has been repeatedly claimed. We analyse whether tax balance sheets can be...

This paper considers the development of accounting rules in Malta, and traces the changing de jure requirement of a ‘true and fair view’ (TFV) in national legislation. This is done in three phases. The initial phase discusses financial reporting issues arising from the then ambiguous TFV...

In the absence of political legitimacy, international accounting standardisation is founded on procedural and substantial legitimacies, which have been challenged by the current financial crisis. This paper represents a critique of this built up legitimacy. It demonstrates in particular that...