While the Real Estate Investment Trusts (REITs) industry is traditionally viewed as a cash flow business, REIT investors have also relied on Funds from Operations (FFO) and net income to evaluate company performance. In this study, we compare FFO and net income by examining how well these two...

The 2007 global financial crisis revealed a deficiency in the financial reporting of off-balance-sheet vehicles. To better reflect risks associated with such items, International Financial Reporting Standard (IFRS) 10 provided new principles for determining an investor's control of an investee...