Politicians frequently intervene in the regulation of financial accounting. Evidence from the accounting literature shows that regulatory capture by special interests helps explain these interventions. However, many accounting rules have broad economic or social consequences, such as their...

This paper focuses on a long-standing challenge for standard setters: what kind of standards should they write? How specific and prescriptive should standards be? How should cost considerations influence requirements? How should standard setters balance comparability with effective communication...

This paper focuses on a long-standing challenge for standard setters: what kind of standards should they write? How specific and prescriptive should standards be? How should cost considerations influence requirements? How should standard setters balance comparability with effective communication...

International Financial Reporting Standards are questioned. Possibly, there is a need for a different kind of standards and a different procedure for developing them. No doubt, there is a need for a more profound theoretical approach to these issues. Theory-building in accounting should include...