Given the call for the development of an accounting conceptual framework, this paper rejects the need for such an undertaking. Using a historical methodology this paper traces the existence of an accounting conceptual framework that painstakingly has been established over the centuries. The...

This paper attempts to reinforce by means of social theory the procedure and property (attribute) of financial accounting measurement advanced by Salvary [1985,1989,1992]. The procedure entails estimating the amount of cash flows derivable from existing investment projects; and the measurement...

Some current research conclude that the numbers in financial statement are not relevant for three basic reasons. The numbers: (1) are not isomorphic1 with capital market values, (2) do not have a future orientation, and (3) are un-interpretable since they are based upon five different...

Accounting at various times has been referred to as a communication process, a language, and a conveyor of information. Given this condition, an analysis of accounting in terms of the theories relating to those references would enable an understanding of: (1) how well the parts of accounting...

In its Conceptual Framework (CF), the Financial Accounting Standards Board (FASB) has not identified the observable phenomena and was not able to identify a single measurement property in financial accounting. While identifying aspects of the observable phenomena in financial accounting, the...

This paper considers the conditions that are necessary for market discipline to complement prompt corrective action (PCA) by the authorities in handling problem banks. We initially consider precisely what market discipline means in this context, who exercises it and the preconditions that are...

The role of financial institutions and corporate governance in the conduct and performance of industrial firms, especially in the area of technological innovation and international competition has been hotly debated in the recent past. The results presented here are a contribution to the...

Several studies have recommended reliance on subordinated debt as a tool for monitoring banks by investors and for enhancing depositors’ protection. However, subordinated debenture increases the level of leverage and thus the probability of costly failure. We propose a novel financial...

This paper examines the impact of the Internet on financial markets