In this paper, we study a setting where a firm (principal) is privately informed of the firm's potential and contracts with an agent to supply unobservable effort. We show it can be optimal for the firm to have loose monitoring in the sense that the monitoring system is less perfect than what is...

Fair value estimates of debt and equity securities play an increasingly important role in the economy. For example, International Financial Reporting Standards require companies to report many of their investments at fair value on the balance sheet or to use fair values in goodwill impairment...

Is Financial Accounting too practical for research? I was recently asked this question during an interview, and it surprised me. Why would it be too practical for research? Can we only conduct research on topics that are not related to practice? Or is it not clear what Financial Accounting is...

En la medida en que la internacionalización empresarial ha ido intensificándose y va surgiendoun nuevo usuario de la información internacional, la problemática ha ido pasando tanto alámbito académico como al profesional. Consciente de esta realidad, la Facultad de ContaduríaPública de la...

El análisis financiero tradicional de la liquidez, basado en el estudio de las razones -razóncorriente, prueba ácida y capital de trabajo- resulta insuficiente para emitir una juiciosa opiniónsobre la liquidez de una empresa, por cuanto él mismo es estático y asume que las...

Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question “how much of the cross-country income variance can be attributed to...

A new wave of financial crises generates a need for placing certain limitations on positive & negative dynamics of the defining or assessed indicators & the factors influencing their formation. In similar, constantly arising situations, the author pioneers the use of the system of triggers or a...

Changes in accounting policies may be precipitated by a change in the company’s economic environment. Accounting changes may also result from changes in ownership that cause a shift in the financial reporting objectives, such as from private to public ownership, or vice versa. At each...

The paper presents in the first part theoretical aspects regarding merchandise imports on one’s own account, on short term trade credit. In the second part it approaches a practical application of accounts related to merchandise imports on one’s own account, on short term trade credit....