While SFAS No. 131 is intended to increase the transparency of financial reporting using a “management approach,” it may reduce shareholders' ability to interpret segment disclosures relative to the ‘industry approach' employed under SFAS No.14. This study investigates whether segment...

The FASB, PCAOB, SEC, and AICPA have all acknowledged that the accounting field needs to revisit the statement of cash flows (SCF). While the overall number of restatements has held steady over the past five years, the percentage of cash flow restatements (CFRs) has risen from 8.7% of all...

While SFAS No. 131 is intended to increase the transparency of financial reporting using a "management approach", it may reduce shareholders' ability to interpret segment disclosures relative to the 'industry approach' employed under SFAS No.14. This study investigates whether firm-segment...