In seeking to replace accounting conventions by concepts in the pursuit of principles-based standards, the FASB/IASB joint project on the conceptual framework has grounded its approach on a well-known definition of income by Hicks. We welcome the use of theories by accounting standard setters...

This article examines the prospects for the International Accounting Standards (IAS) based on a discussion held by U.S. and British academics in August 2001. Participants recognized several key challenges to widespread implementation of IAS. These include the need to improve the quality of...

By developing a synthesis of documents that have been released officially under the revenue recognition project jointly run by the International Accounting Standards Board and Financial Accounting Standards Board, this article points out that the earning generation and realization process over...

Purpose – The equator principles constitute an international voluntary code developed by banks to encourage consideration of environmental and social issues in project financing. Such codes can flexibly bridge the gap between individual companies' sustainability initiatives and mandatory,...