financial and accounting literature. There is easily observable gap between fair value theory and valuation practices. Thus this …

Politicians frequently intervene in the regulation of financial accounting. Evidence from the accounting literature … shows that regulatory capture by special interests helps explain these interventions. However, many accounting rules have … perception of these consequences varies with a politician's ideology. Therefore, if accounting rules produce those consequences …

accounting standards, it is quite easy to realize that at their basis are two important categories of principles: the principles … of recognition and the principles of measurement. Recognition is the process of incorporating an accounting element in an …