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This essay is based on a keynote speech at the 2014 Journal of International Accounting Research (JIAR) Conference. That talk was built upon a 2009 American Accounting Association (AAA) annual meeting panel presentation titled “Is there any scientific legitimacy to what we teach in Accounting...
Persistent link: https://www.econbiz.de/10013003887
Ramanna (this issue) argues that the FASB’s new Conceptual Framework deemphasizes reliability in favor of representational faithfulness to facilitate the FASB’s promotion of an “asset-liability” approach measured at fair values. More importantly, Ramanna argues that this change is likely...
Persistent link: https://www.econbiz.de/10013215996
Persistent link: https://www.econbiz.de/10013261776
Large net loan charge-offs are frequently associated with large decreases in nonperforming loans and large increases in loan loss provisions, inducing a V-shaped relation between loan loss provisions and nonperforming loan changes. Failure to model the asymmetry attributable to net loan...
Persistent link: https://www.econbiz.de/10012849920
Large net loan charge-offs are frequently associated with large decreases in nonperforming loans and large increases in loan loss provisions, inducing a V-shaped relation between loan loss provisions and nonperforming loan changes. Failure to model the asymmetry attributable to net loan...
Persistent link: https://www.econbiz.de/10012824641
IFRS 17 requires a significant change to insurer accounting, and we look at some of the frictions resulting from its … implementation. We make three points. First, since IFRS 17 is a principles-based standard, it will be costly to implement. Audit … industries. Third, we conduct an event study of specific announcements regarding IFRS 17 promulgation and implementation. We find …
Persistent link: https://www.econbiz.de/10013293589
This study investigates (a) why some IPO firms proactively disclose internal control weaknesses (ICWs) and remediation progress in their prospectuses before going public, despite being exempt from the requirements of Sections 302 and 404 of the Sarbanes-Oxley Act at the time of IPO, and (b) the...
Persistent link: https://www.econbiz.de/10012956635
Accountants examine multiple indicators when assessing whether individual assets are impaired. Different indicators predict cash flows over varying time horizons, and their importance varies with how far into the future individual assets are expected to generate cash flows. We predict that...
Persistent link: https://www.econbiz.de/10013006688
Sivakumar and Waymire examine differences in the properties of US railroads' reported earnings before and after concurrent changes in accounting rules and rate regulations. Although the accounting rules were intended to combat income smoothing, Sivakumar and Waymire find little evidence that...
Persistent link: https://www.econbiz.de/10013006523
Over the last decade, there has been much empirical research on Chinese accounting conservatism. This research started with Ball, Robin and Wu (2000) that was one of the first papers to apply modern research methods to Chinese data. In this paper, I survey the early research on conservatism to...
Persistent link: https://www.econbiz.de/10011823399