Public hospitals in the U.K. apply GAAP as modified by the Treasury, the Financial Reporting Advisory Board (FRAB) and the Department of Health. Individual National Health Service (NHS) Trusts apply their interpretation of the accounting manuals with further guidance and scrutiny from oversight...

This paper examines how simultaneous presence of domestic accounting standards of various countries affects market reactions to firms' earnings announcements and subsequent post-earnings announcement drifts (PEAD) in U.S market. Drawing from the finance and accounting literatures on investors'...

In this study, we examine the role of restructuring charges in the existence and subsequent weakening of the widely documented accrual anomaly. We find that prior to 2003 the significant positive abnormal hedge returns experienced by accrual based strategies were influenced by a subset of firms...

This paper addresses the question whether adoption of IFRS-standards is associated with lower earnings management. Ball et al. (2003) argue that adopting high-quality standards might be a necessary condition for high quality information, but not necessarily a sufficient one. In Germany, a...

We provide preliminary confirmation of Skinner's (1995) hypothesis that Canada's relatively principles-based GAAP yield higher accrual quality than the US's relatively rules-based GAAP. These results stem from a comparison of the Dechow-Dichev (2002) measure of accrual quality for cross-listed...

Balance sheet figures must be reliable and need not necessarily be value relevant. In order to protect the company's creditors, and to safeguard the investing public against the possibility of earnings management, intangible assets should only be recognized when the most stringent of standards...

I find that goodwill write-offs under Statement of Financial Accounting Standards No. 142 (SFAS 142) are associated with future expected cash flows as mandated by the standard. However, there are indications that goodwill write-offs lag behind the economic impairment of goodwill. Additional...

One important aspect of the world economy is the process of implementing uniform financial reporting standards. A leap forward took place when the European Union required that listed companies in all member nations use International Financial Reporting Standards (IFRS) for years beginning 2005....

We examine firms’ behavior around the adoption of SFAS 160 to provide evidence on the costs and benefits associated with mandated accounting changes. The reclassification of minority interest to equity mandated by SFAS 160 can result in a wealth transfer from bondholders to stockholders....

This paper examines the level of compliance with the requirements of statement of Accounting Standards number 16 by Insurance Companies listed on the Nigerian Stock Exchange (NSE). The basic objective is to find out whether or not listed insurance companies in Nigeria apply the requirements of...