Financial reporting is a powerful practice that shapes social and economic processes. This paper raises several doubts on the wisdom of current attempts to establish a single set of international financial reporting standards, tailored to the needs of stock market - based capitalism, which...

This paper examines the relative costs and benefits of International Financial Reporting Standards (IFRS) adoption in the European Union by testing the ability of earnings computed under IFRS to predict future cash flows. The study considers the contribution of net income, comprehensive income...

Accounting is not simply a metric; rather it is a calculative practice which shapes the socio-economic environment. Therefore, looking only at the substance of accounting standards is sometimes inadequate. From a European Union perspective, this paper provides a general framework that deals with...

This paper discusses empirical research on the effects of the adoption of IAS/IFRS on the quality of financial reporting. In doing so, it focuses on the European Union. The adoption of IAS/IFRS in Europe is an example of accounting standardization among countries with different institutional...

This paper aims to discuss fair value accounting and its usefulness to financial statement users. The European Commission has recently endorsed IFRS 13 on fair value measurement and is considering the endorsement of IFRS 9, which extends the use of fair value for financial instruments....

Using a sample of Italian firms, I nvestigate the value-relevance of separate financial statements as well as the effects of adopting IFRS. I find that separate financial statements provide investors with useful information, regardless of the accounting standard set used for their preparation. I...