Die Kodifizierung der deutschen Rechnungslegung reicht bis in das 18. Jahrhundert zurück. 1945 war es bereits zweigliedrig und unterschied zwischen Vorschriften für Aktiengesellschaften und Vorschriften für andere gewerbliche Unternehmen. Bis 1959 änderte sich wenig an der Rechnungslegung....

Following its enactment in early 2018, the Banking Executive Accountability Regime (BEAR) came into force for the largest Australian banks from July 2018, and for all other authorised deposit-taking institutions (ADIs) from July 2019. This research examines the experiences of ADIs in...

The purpose of this study is to empirically examine the relations between audit outcomes and accounting standard design (principles-based vs. rules-based) for US firms. Considering that audit outcomes may vary with audit risk, which may differ under different accounting standards, we examine and...

The focus of the paper is on identification of hidden patterns in the opinion of accounting professionals, in order to identify the deficiencies in the legal accounting regulations and to examine their perspective on international and legal accounting regulations. The data collected through the...

Financial accounting standards require derivatives to be recognized at fair value with changes in value recognized immediately in earnings. However, if specified criteria are met, firms may use an alternative accounting treatment, hedge accounting, which is intended to better represent the...

Beginning in 2010, mandated Financial Accounting Standards No. 166 and 167 (SFAS 166/167) changed the consolidation rules of securitization entities and required more information about their securitization activities. I find that securitizing banks experienced a decrease in information asymmetry...

This study examines the effects of a prominent principles-based standard (SFAS-142, Goodwill and Other Intangible Assets) on financial statement comparability. Using non-goodwill-intensive firms as our control group, we implement a difference-in-differences research design to examine how...

Die vorliegende Arbeit befasst sich mit dem Verhältnis zwischen handels- und steuerrechtlicher Gewinnermittlung für das am 1. Januar 2015 in Kraft getretene revidierte Rechnungslegungsrecht nach Obligationenrecht. Durch die Anwendung des steuerrechtlichen Massgeblichkeitsprinzips auf die...

We examine whether Governmental Accounting Standards Board (GASB) financial statement disclosure influence local governments' economic decision-making. To do so, we exploit a recent GASB standard that differentially changed the disclosure requirements for pension obligations for county...

On March 25, 2019, the FASB released Proposed Accounting Standards Update (Revised) concerning Income Taxes (Topic 740).There is a critical need to expand required disclosures for multinational groups (MNCs) under generally accepted accounting principles. Many MNCs carry material tax risks from...

We examine the effect of the adoption of the new revenue recognition standard (ASC 606) on earnings quality and the role of earnings in the debt market. We find that ASC 606, a transition from a rules-based to a principles-based accounting standard, decreases earnings predictability, which is...

Following the massive wave of high-profile accounting scandals at the beginning of this millennium, there has been an apparent consensus within the U.S. policy-making circles that the existing U.S. accounting standards are the main reason for these failures. Many assert that U.S. GAAP is...

Accounting is the science of communicating the financial information of the business organization in an organized manner. Before communicating the business information it is necessary to record the actual business results in a scientific manner so as to ensure the true and fair view of the...

Barthelme et al. (2018) examine the real effects of pension accounting regulation and provide evidence consistent with the claim that recent changes in financial reporting rules affect pension asset allocation decisions. Their study offers an interesting opportunity to highlight the importance...

Historically, every country had its own accounting standards, each merging to some extent with its local corporate, labor, and tax laws. No matter how undesirable, it was natural to expect differences among nations. Globalization made these differences so impractical that from corporate leaders...

Using the adoption of SFAS 142 as an exogenous shock, we examine the effect of changes in financial reporting on firms' internal information environment. SFAS 142 removed goodwill amortization and required firms to perform a two-step impairment test. We argue that complying with SFAS 142 induces...

The purpose of this paper is to compare the cyclical behavior of various credit impairment accounting regimes, namely IAS 39, IFRS 9 and US GAAP. We model the impact of credit impairments on the Profit and Loss (P&L) account under all three regimes. Our results suggest that although IFRS 9 is...

This paper investigates how accounting standards (AS) convergence influences Chinese firms' overseas mergers and acquisitions (M&As) and shows that this convergence significantly promotes Chinese firms' overseas M&As. Specifically, we find that both the probability of success and the value of...

This paper examines the changes in earnings quality of registered ADRs as a result of switching accounting standards. We aim to shed light on the potential impact of IFRS adoption on US firms. A suboptimal approach to achieve this goal is through examination of US firms' surrogates such as ADRs....

Purpose – The aim is to explore whether principles-based versus rules-based accounting standards have an effect on measures of financial reporting quality and earnings management strategies. Design/methodology/approach – This study uses a firm-year-specific variable that captures the extent...

Starting from the normative approach of the General Accepted Accounting Principles (GAAP) the chapter covers the topic of the non-financial impact measurements. Section one is devoted to the objectives and postulates of the GAAP and their possible extension. In section two and three, the most...