The provisions of Statement of Financial Accounting Standards (SFAS) No. 144, Accounting for the Impairment or Disposal of Long‐lived Assets , have raised many implementation issues for entities adhering to its increased requirements to recognize and measure the costs associated with the...

Certified public accountants (CPAs), internal auditors, management accountants and other accounting and non‐accounting professionals rely heavily on the concept of due professional care to help assure the public that they prudently exercise their responsibilities. In turn, accountants failing...

Purpose – The purpose of this paper is to examine the impact of firms using derivatives applying Statement of Financial Accounting Standards (SFAS) No. 133. It aims to measure the magnitude of cumulative effects of changes in accounting principle from the income statement in the year of...

Purpose – Recent corporate failures such as Enron, WorldCom, Global Crossing and K-Mart and auditing failures such as Arthur Andersen have sparked great public concern, including the passage of the Sarbanes-Oxley Act of 2002. This paper aims to address the development of accounting standards....

Notes that despite moves towards the international harmonization of accounting standards, some important differences remain between UK and US generally accepted accounting principles which affect the comparability of their financial statements. Outlines the development of the UK accounting...

Purpose – Recent corporate failures such as Enron, WorldCom, Global Crossing and K‐Mart and auditing failures such as Arthur Andersen have sparked great public concern, including the passage of the Sarbanes‐Oxley Act of 2002. This paper aims to address the development of accounting...

Purpose – The purpose of this paper is to examine the impact of firms using derivatives applying Statement of Financial Accounting Standards (SFAS) No. 133. It aims to measure the magnitude of cumulative effects of changes in accounting principle from the income statement in the year of...