We summarise the response of the EAA's FRSC to Towards a Disclosure Framework for the Notes, a Discussion Paper (DP) issued jointly by EFRAG, ANC and FRC. While supportive of much of the DP, and in particular of the underlying aim to place disclosures on a sounder conceptual foundation, we...

Do international accounting standards require conservative accounting? The IASB's conceptual framework suggests that they should not, while the research literature is largely silent on the matter, typically presuming conservatism to be an outcome of private contracting rather than standardized,...

This paper examines the use of valuation models by UK investment analysts. The study is based on, first, semi-structured interviews with 35 sell-side analysts from 10 leading investment banks and with 7 buy-side analysts from 3 asset management firms and, second, content analysis based on 98...

This paper examines sell-side analysts' perceptions of 'earnings quality'. Prior research suggests that analysts' stock recommendations, price targets, earnings forecasts and written reports are relevant to share price formation. One of the main inputs in analysts' forecasting and valuation...

Because managers hold a status in society similar to that of doctors and lawyers, it is natural to think of business as a profession--and of business schools as professional schools. But, argues Barker, a professor at Cambridge University's Judge Business School, that can lead to inappropriate...

This paper addresses an important issue of presentation in the financial statements, namely the distinction between, on the one hand, the obligations and associated flows arising from the provision of finance to an entity ('financing') and, on the other hand, all other activities of the entity...

This paper makes two contributions. First, it demonstrates that income and expenses are incorrectly defined in the IASB's conceptual framework, and it proposes alternative definitions. Second, the paper identifies that, in part as a consequence of these incorrect definitions, and in part because...

Purpose - To find out how UK investment analysts use valuation models. Design/methodology/approach - Cites prior studies using residual income and discounted cash flow (DCF) models, while proposing to interview analysts. Combines content analysis of 98 equity reports by investment bank analysts...

This paper examines sell‐side analysts’ perceptions of ‘earnings quality’. Prior research suggests that analysts’ stock recommendations, price targets, earnings forecasts and written reports are relevant to share price formation. One of the main inputs in analysts’ forecasting and...