The radical changes in 'business processes' as well as 'corporate strategies' have mandated the acknowledgement of the immense role of intangibles to corporate bottom lines. Besides, there has been an exponential growth in the spectrum of tradeable financial products. As a consequence, the need...

In recent times the demand for disclosure of listed companies has dramatically increased and the failures of large companies listed on the most important stock exchanges have placed extra pressure on listed companies and standard setters for the increase in the quality of corporate reporting...

Using a simplified approach it may be stated that the financial accounting theoretical framework is structured on three levels. At the first level, reference is made to the accounting objectives. These objectives are fundamental for the theoretical framework. At the second level, we find the...

The primary objective of general purpose financial reporting is to provide high-quality financial information about the reporting entity, useful for economic decision making. Qualitative characteristics of financial statements are the basic attributes that make sense of usefulness of accounting...