The European Accounting Association (EAA) Financial Reporting Standards Committee (FRSC) provided a response to the International Accounting Standards Board's (IASB's) 2013 Discussion Paper (DP) on completing and revising its Conceptual Framework. The response consisted of a literature-based...

<title>Abstract</title> This paper examines the question of whether the objective of financial reporting should be based solely on ‘decision-usefulness’ or whether stewardship should be recognised as a separate objective. This question is not new, but has recently come to the fore through the publication...

Purpose – The equator principles constitute an international voluntary code developed by banks to encourage consideration of environmental and social issues in project financing. Such codes can flexibly bridge the gap between individual companies' sustainability initiatives and mandatory,...

The recent rapid growth of China’s economy has reopened historical debate about the extent to which it prospered during the Míng and Qīng dynasties (1368-1911) through developing a significant market orientation on the base of its underlying agricultural bureaucratic feudalism. As a...

Revenue recognition and measurement principles can conflict with liability recognition and measurement principles. We explore here under different market conditions when the two measurement approaches coincide and when they conflict. We show that where entities expect to earn ‘super profits’...

By developing a synthesis of documents that have been released officially under the revenue recognition project jointly run by the International Accounting Standards Board and Financial Accounting Standards Board, this article points out that the earning generation and realization process over...