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 lsquo;super...

This paper investigates whether there is market reaction to and value-relevance of information contained in the mandatory transitional documents required by IFRS 1 (2005). These documents detail the reconciliation adjustments necessary to a firm's previously reported UK GAAP accounts to achieve...