This chapter analyzes the role of financial accounting in the German financial system. It starts from the common … perception that German accounting is rather uninformative. This characterization is appropriate from the perspective of an arms … perspective is adopted. The German accounting system exhibits several arrangements that privately communicate information to …

This chapter analyzes the role of financial accounting in the German financial system. It starts from the common … perception that German accounting is rather "uninformative". This characterization is appropriate from the perspective of an arm … perspective is adopted. The German accounting system exhibits several arrangements that privately communicate information to …

The recent financial crisis has led to a major debate about fair-value accounting. Many critics have argued that fair …-value accounting, often also called mark-to-market accounting, has significantly contributed to the financial crisis or, at least …, exacerbated its severity. In this paper, we assess these arguments and examine the role of fair-value accounting in the financial …

The recent financial crisis has led to a vigorous debate about the pros and cons of fair-value accounting (FVA). This … accounting standards, be it IFRS or U.S. GAAP. Third, historical cost accounting (HCA) is unlikely to be the remedy. There are a …