The Canadian Accounting Standards Board (AcSB) recently issued an exposure draft to adopt separate GAAP for private enterprises. This new GAAP is justified as being consistent with the current FASB/IASB conceptual framework, but is sensitive to the different cost/benefit considerations facing...

We investigated the benefits (more accurate valuations) obtained from the use of more specific measures, such as the use of specific price indexes, rather than a general price index, to approximate the current value of historical cost accounting numbers. We found the valuation accuracy function...

The Canadian Accounting Standards Board (AcSB) issued an exposure draft on a proposal to adopt a separate 'Made in Canada' GAAP for private enterprises. This new GAAP is justified as being consistent with the current FASB/IASB conceptual framework, but as being responsive to the different...

In recent years, public accounting firms have been caught in a media firestorm fuelled by corporate fraud, disappointed investors and aggressive regulators. The collapse of Arthur Andersen has triggered questions about how well accounting firms are managed. Some former Arthur Andersen partners...

Managers sometimes implement accounting standards (such as the lease standard) opportunistically to move debt off balance-sheet. Regulators and standard setters are considering the adoption of principles-based accounting standards to reduce such opportunism. We report the results of an...