We examine the effect of lending banks' board representation (affiliated banker on board, or AFB) on conservative accounting. We argue that private information obtained through board representation enhances the monitoring and the influence of lenders and therefore reduces their demand for...

Accounting and the business environment -- Recording business transactions -- The adjusting process -- Completing the accounting cycle -- Merchandising operations -- Merchandise inventory -- Internal control and cash -- Receivables -- Plant assets, natural resources, and intangibles --...