ACCOUNTING STANDARDS AND RULES - VOLUNTARY OR REGULATORY DETERMINATION?

IFRS or IFRS-Based Domestic Standards: Implications for China’s Future Accounting System

People’s Republic of China has a long history of accounting and accounting reforms. This study focuses on “whether China should continue its IFRS-based domestic accounting standards or full convergence with the IFRS is more appropriate”? Both quantitative and qualitative approaches are applied to answer the research question of this work. Binary choice model has been used in the statistical ana...

Rules, Standards and Geeks

Accounting for Rising Corporate Profits : Intangibles or Regulatory

Since 1980, US corporate valuations have risen relative to assets and operating margins have grown. The possibility of sustained economic rents has raised concerns about economic dynamism and inequality. But rising profits could represent growing returns to corporate investments in intangibles instead of returns to political rent seeking. Using new data on Federal regulation and data on lobbyin...

Political Economy of Accounting Standards

How do we set the accounting standards? The topic has received much attention during the past 50 years. Perhaps the first step toward a satisfactory resolution of the problem is to recognize that the problem of standardization is not unique to accounting. There are approximately five hundred standard-setting organizations in the United States alone and many more in other countries, setting stan...

Accounting Standards for Supply Chains

In this paper principles for accounting in supply chains will be developed. The three principles we introduce are: the reciprocity in information access, asset investment and retrieval, and matching risks and returns. The principles provide guidance in managerial and stakeholder decision making, monitoring and control. The information that management and other stakeholders need is based on thes...