This article induces the pragmatic structure of what financial reporting can be ? it does not deduce what financial reporting should be. Empirical studies can show that opportunism is not a feature generally of financial accounting in practice, but challenges exist in the post-Enron era. One...

This article induces the pragmatic structure of what financial reporting can be – it does not deduce what financial reporting should be. Empirical studies can show that opportunism is not a feature generally of financial accounting in practice, but challenges exist in the post-Enron era. One...