"The thorough reference that goes wherever you goThe Complete CFO Reference is the perfect up-to-date reference tool for today's busy CFO, controller, treasurer, and other finance professionals. Written in an easy format and packed with checklists, samples, and worked-out solutions for a wide...

In their joint framework project, the FASB and the IASB recently proposed dropping stewardship as a separate objective of financial accounting, because the Boards view stewardship and valuation usefulness as compatible sub-objectives ranking under an overall objective of decision usefulness....

Many accounting regimes, such as U. S. GAAP, IFRS, German GAAP (GoB) and Japanese GAAP, pursue internal consistency. One central methodical and practical problem in all regimes is how management shall develop and apply accounting policies when specific guidance relating to particular...

This paper discusses arguments for and against introducing competition into the accounting standard-setting process in the U.S. by allowing individual corporations to issue financial reports prepared in accordance with either FASB or IASB rules. The paper examines several arguments supporting...

Based on data collected from 616 experienced financial officers who use U.S. GAAP or IFRS and are domiciled in the U.S., Europe, or Asia, we examine how reporting standards (U.S. GAAP vs. IFRS) and domicile (U.S. vs. non-U.S.) affect earnings management (real vs. accrual). U.S. firms using U.S....

This paper expands prior IFRS accounting systems' classifications to a broader set of 27 countries where the IFRS adoption is a widespread practice, plus the United States of America (USA). The results suggest a classification distinguishing between three groups of countries, based on the...

The SEC decided in 2007 to allow foreign private issuers who use IFRS as promulgated by the IASB (pure IFRS filers, hereafter) to stop providing reconciliations to US GAAP. Some opposed the measure because the limited academic literature available at the time indicated that the reconciliation is...

A roadblock exists between International Financial Reporting Standards, (IFRS) and United States Generally Accepted Accounting Standards, (US GAAP) in the area of acceptable methods of inventory valuation. IFRS recognizes the First In First Out Method, FIFO, and the Weighted Average Method of...

This expository study provides insight into how the probable adoption of IFRS might affect the independent audits of listed companies in the U.S. Examining the experience of the EU with regard to how mandatory adoption of IFRS in 2005 has affected the independent audits of listed companies would...