We revisit evidence whether incentives or IFRS drive earnings quality changes, analyzing a large sample of German firms in the period from 1998 to 2008. Consistent with previous studies we find that voluntary and mandatory adopters differ distinctively in terms of essential firm characteristics...

Based on extant literature, we review the positive theory of GAAP. The theory predicts that GAAP's principal focus is on control (performance measurement and stewardship) and that verifiability and conservatism are critical features of a GAAP shaped by market forces. We recognize the advantage...

We study a sample of Continental European firms for changes in the sensitivity of their CEO turnover to their foreign peers' accounting performance around the mandatory adoption of International Financial Reporting Standards (IFRS). We find a post-adoption increase in the use of Relative...

This study examines whether application of IFRS by non-US firms results in accounting amounts comparable to those resulting from application of US GAAP by US firms. IFRS firms have greater accounting system and value relevance comparability with US firms when IFRS firms apply IFRS than when they...

The Canadian Accounting Standards Board (AcSB) issued an exposure draft on a proposal to adopt a separate 'Made in Canada' GAAP for private enterprises. This new GAAP is justified as being consistent with the current FASB/IASB conceptual framework, but as being responsive to the different...

We examine whether the adoption of internationally recognized accounting standards is associated with a greater sensitivity of credit ratings to accounting information. Our results suggest that voluntary adoptions of IFRS/U.S.GAAP come with significant increases in the sensitivity of credit...

Using a sample of Russian listed firms during 2000 through 2006, we examine whether IFRS financial reports of Russian listed firms result in a better accounting quality than the financial reports of Russian listed firms prepared in accordance with Russian accounting Standards (RAS). Our...

Public hospitals in the U.K. apply GAAP as modified by the Treasury, the Financial Reporting Advisory Board (FRAB) and the Department of Health. Individual National Health Service (NHS) Trusts apply their interpretation of the accounting manuals with further guidance and scrutiny from oversight...

There have been calls for different reporting standards for big firms and small firms over the years due to unique attributes and challenges of SMEs especially in the area of financial reporting as well as the increasingly significant roles they play in the economies of most countries. Thus, it...

Under current GAAP, initial bargain-purchase amounts, also known as negative goodwill (NGW) or the excess of the fair value of acquired net assets over the cost of an acquisition, are typically reduced or eliminated altogether by being allocated against the fair values of certain acquired assets...