The comprehensiveness of income, a key definition in accounting, remains contentions despite decades of debate. A review of this debate reveals that investors have traditionally argued for more comprehensive definitions of income, whereas managers have traditionally argued for less comprehensive...

The current economic environment is characterized by uncertainties related to price volatility, difficulties in the valuation of financial instruments, as well as of assets and liabilities in general. More and more companies face liquidity issues that could even threaten their existence. Under...