are projected to pay to the government now and in the future. The generational accounting system represents an alternative …

This paper develops a signaling model in which accounting information improves real investment decisions. Pure cash … flow reporting is shown to lead to underinvestment when managers have superior information but are acting in shareholders …' interests. Accounting by prespecified, "objective" rules alleviates the underinvestment problem …

most transactions are carried out through an accounting system rather than any tangible medium of exchange, and (iii …

fully compensated by positive information spillovers (e.g., to competitors, suppliers, and customers) within industries …

This paper comprehensively reviews Accounting for Income Taxes (AFIT). The first half provides background and a primer …

This paper discusses the issues surrounding the proposals to conform financial accounting income and taxable income …. The two incomes diverged in the late 1990s with financial accounting income becoming increasingly greater than taxable … of earnings management for financial accounting and/or the tax sheltering of corporate income. Our paper outlines the …

enforcement and the growth of state capacity. However, there may be limits to the effectiveness of third-party information if …