A major objective of the FASB's financial instruments project, inclusive of SFAS 105, SFAS 107 and SFAS 119, is to provide information useful to investors in assessing the credit and market rish associated with the use of off-balance-sheet ifnancial instruments. We survey 1992 SFAS 105 and SFAS...

Beaver and Wolfson (1982 BW) identify economic interpretability and symmetry as desirable properties for financial statement translation. They then analyze translation methods with respect to these properties assuming perfect and complete markets between and within both countries (referred to,...

We use differences in U.S. GAAP and Japanese-GAAP accounting measures to evaluate the value-relevance of U.S.-GAAP reports. We show data provided in U.S. GAAP financial statements of Japanese firms is value-relevant beyond that contained in domestic-GAAP statements. Our results complement extant...