The Association of British Insurers' (ABI) proposals for an 'accruals' method would have the effect of 'front-loading' profits reported on life assurance business compared with the traditional 'statutory solvency' basis. The ABI argued that adoption of the method would lead to a more realistic...

Revenue recognition and measurement principles can conflict with liability recognition and measurement principles. We explore here under different market conditions when the two measurement approaches coincide and when they conflict. We show that where entities expect to earn ‘super profits’...

By developing a synthesis of documents that have been released officially under the revenue recognition project jointly run by the International Accounting Standards Board and Financial Accounting Standards Board, this article points out that the earning generation and realization process over...

The recent rapid growth of China’s economy has reopened historical debate about the extent to which it prospered during the Míng and Qīng dynasties (1368-1911) through developing a significant market orientation on the base of its underlying agricultural bureaucratic feudalism. As a...

The paper explores the monitoring by 'external Names' (the principals) of 'working Names' (their agents) in the Lloyd's insurance market of the 1970s and early 1980s. The market was relying heavily on external Names to finance its rapid growth; and these principals were dependent upon their...

Accounting historians have attempted to relate their knowledge of the variety of accounting practices at various points of time, and in various places, to wider questions of the role of accounting in reflecting and shaping not only business and management practice, but also economic and social...

Purpose – The equator principles constitute an international voluntary code developed by banks to encourage consideration of environmental and social issues in project financing. Such codes can flexibly bridge the gap between individual companies' sustainability initiatives and mandatory,...