The value attached to intangible assets has increased manifold in the current era of knowledge economy. Intangible assets are a major tool for firms to build competitive advantages. As firms now become more knowledge and information-based, intangible assets will comprise a significant percentage...

We investigate the effect of standard setters in standard setting: We examine how certain professional and political characteristics of FASB members and SEC commissioners predict the accounting “reliability” and “relevance” of proposed standards. Notably, we find FASB members with...

This study of the interrelations of accounting and the State portrays accounting as a technology of government to effectively enact “practical action” (Snook, 2000: 186) at a distance in the Portuguese Empire. The study examines the development, application and enforcement of accounting...

This paper proposes an accounting for revenues as an alternative to the proposals currently begin aired by the FASB and IASB. Existing revenue recognition rules are vague, resulting in messy application, so the Boards are seeking a remedy. However, their proposals replace the traditional...

Intangible assets are a major tool for organizations to build competitive advantages as the value attached to intangible assets has increased manifold in the current era of knowledge or information economy. As firms now become more knowledge and information-based, intangible assets will comprise...

Business Combinations is the first completed joint convergence project of the FASB amp; IASB. The new business combinations standards converge US GAAP and IFRS in all but the calculation of non-controlling interests. Although the accounting community widely acknowledges the benefits of...

We examine the cost-effectiveness, from the shareholders' perspective, of the accounting standards issued by the FASB during 1973-2009. In particular, we evaluate (i) the stock market reactions of firms affected by the standards surrounding events that changed the probability of issuance of...

We regard accounting regulation as a politico-economic institution and analyze its evolution in the presence of changing investor sentiment. When the market sentiment is moderate, if most of the business projects in the economy are successful, the economy will enter a stable high-disclosure...