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The Role of Fair Value Accounting in the Global Financial Crisis : Evidence from U.S. Global Systemically Important Banks
Song, Guoxiang - 2014
Fair value accounting has been argued as one contributing factor to the recent global financial crisis occurred from 2007 to 2008. However, recent empirical studies find no significant evidence for this role of fair value accounting. One reason for this inconsistency comes from the weaknesses of...
Persistent link: https://www.econbiz.de/10013063697
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Current Expected Credit Loss Standard and Bank Lending Procyclicality : Evidence from the US Housing Market
Chen, Yi-Chun; Lin, Tse-Chun; Yang, Donghe - 2023
to take a forward-looking approach to recognizing life-of-loan losses upon loan origination. Using bank mortgage approval … booms. Overall, our findings suggest that CECL adoption reduces bank lending procyclicality …
Persistent link: https://www.econbiz.de/10014351167
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Firm Characteristics Influencing Responses Towards Adoption of the Fair Value Accounting Option : A Survey of Chief Financial Officers of U.S. Firms
Daniel, Shirley - 2010
This paper examines the opinions of Chief Financial Officers (CFOs) of public companies in the U.S. with respect to the choice of fair value accounting for non-financial assets. Based on 209 surveyed firms, we first show that the majority of CFOs are resistant to fair value accounting for...
Persistent link: https://www.econbiz.de/10013146189
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Selective Trading of Available-for-Sale Securities : Evidence from U.S. Commercial Banks
Dong, Minyue - 2017
This paper examines the selective trading of available-for-sale (AFS) securities by U.S. banks after the implementation of fair value accounting under Statement of Financial Accounting Standards No. 115, Accounting Standards Codification (ASC) Topic 320. Our findings suggest firms still engage...
Persistent link: https://www.econbiz.de/10012976189
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Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part II) : Political Factors and Future Scenarios for U.S. Accounting Standards
Hail, Luzi - 2011
adoption of IFRS by the United States. In Part I (see Hail et al. 2010), we develop the conceptual framework for our analysis … and discuss economic factors driving the costs and benefits associated with IFRS adoption. In this part, we provide an … analysis of the political factors related to the possible U.S. adoption of IFRS, present several scenarios for the evolution of …
Persistent link: https://www.econbiz.de/10013132218
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Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part I) : Conceptual Underpinnings and Economic Analysis
Hail, Luzi - 2011
of IFRS by the United States. In this part, we develop the conceptual framework for our analysis of potential costs and … benefits from IFRS adoption in the United States. Drawing on the academic literature in accounting, finance and economics, we … assess the potential impact of IFRS adoption on the quality and comparability of U.S. reporting practices, the ensuing …
Persistent link: https://www.econbiz.de/10013132954
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Did Eliminating the 20-F Reconciliation Between IFRS and US GAAP Matter?
Jiang, John (Xuefeng) - 2010
The SEC decided in 2007 to allow foreign private issuers who use IFRS as promulgated by the IASB (pure IFRS filers … convergence efforts of the IASB and FASB and did not focus on pure IFRS filers. We examine the information content of the … reconciliations for a sample of 88 pure IFRS filers during 2006 and 2007. Consistent with the reconciliation lacking usefulness for …
Persistent link: https://www.econbiz.de/10013136862
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A Roadblock to US Adoption of IFRS IS LIFO Inventory Valuation
Fosbre, Anne B. - 2012
A roadblock exists between International Financial Reporting Standards, (IFRS) and United States Generally Accepted … Accounting Standards, (US GAAP) in the area of acceptable methods of inventory valuation. IFRS recognizes the First In First Out … Service, IRS. In order for the United States to adopt IFRS Accounting Standards, the elimination of LIFO would have to occur …
Persistent link: https://www.econbiz.de/10013114560
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The Political Economy of International Standard Setting in Financial Reporting : How the United States Led the Adoption of IFRS Across the World
Kavame Eroglu, Zehra G. - 2019
. Currently around 120 countries require or permit International Financial Reporting Standards (IFRS), however, the United States … is yet to make a decision to adopt these international standards.The adoption of IFRS in the United States would, in … theory, be easier compared to the experience of the European Union. The EU mandated that all publicly traded firms use IFRS …
Persistent link: https://www.econbiz.de/10012900528
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Why Haven’t U.S. GAAP and IFRS on Insurance Contracts Converged? Evidence from an Unsuccessful Joint Project
Burke, Qing - 2019
This study examines the FASB's and IASB's unsuccessful joint project on accounting for insurance contracts. It highlights the divergent views the Boards may hold on certain fundamental accounting issues. Further, this study examines how the costs and benefits of accounting standard convergence...
Persistent link: https://www.econbiz.de/10012866048