The paper sets out to analyse the effects of the financial crisis on the international standard-setter in 2008 and the attempts made to shoot the messenger -- to blame IAS 39 for creating the crisis for reporting unrealised losses, rather than the cause being bankers making bad investment...

We review the academic literature on the use of financial reporting information by capital providers. We classify our findings by investor type and by information objective. While most capital providers use accounting information, our survey indicates that they do so in a variety of ways with...

In this article, we analyse factors that explain the success of the empirical methodology of ‘positive accounting theory’ (PA) in accounting research. In fewer than ten years, between 1960 and 1967--1968, PA became dominant in the main accounting journals, and normative theories disappeared...