The FASB and the IASB recently issued a joint discussion paper entitled, Preliminary Views on Revenue Recognition in Contracts with Customers. The Boards requested comments on whether their proposed model for revenue recognition would improve the usefulness of the financial statement information...

This paper addresses the issues that confront the FASB and IASB in developing a new conceptual framework document. First, we suggest characteristics that a conceptual framework ought to exhibit. Most of these suggestions are based on our critique of the existing framework and the FASB-IASB work...

We examine analysts' GAAP earnings forecasts and illustrate their usefulness in two prominent research settings. First, we find that the availability of GAAP forecasts has increased dramatically since 2003, and they are now available for most I/B/E/S-covered firms. Next, we utilize GAAP...