Ernstberger and Vogler (2007) employ the concurrent use of three distinct accounting standard regimes (German GAAP; U.S. GAAP; and IAS/IFRS GAAP) in Germany as a foundation for evaluating the relation between accounting standard regime and equity return attributes. They find that firms using...

This paper seeks to determine the impact of NASB Act 2003 on compliance with accounting standards on employee retirement benefits (SAS 8) in Nigeria. The population of the study is the 182 firms quoted on the first -tier market of the Nigerian Stock Exchange (NSE). The study utilizes data from a...

The recent increase in the usefulness of earnings announcements is associated with the disclosure of income statements (Francis et al., 2002) and non-GAAP financial measures (Collins et al., 2005). This paper extends these results by investigating the disclosure and informativeness of non-GAAP...

Following Basu's (1995, 1997) seminal work, accounting literature adopted the Basu coefficient to measure conditional conservatism (among others, Ball et al. 2003; Ball et al. 2000; Ball et al. 2005; Ball and Shivakumar 2005; Lobo and Zhou 2006; Chandra et al. 2004). However, Basu's choice of proxy for measuring...

In December 2007 the SEC issued a formal rule release that allows foreign-private issuers that employ the IFRS to file their financial statements without providing a reconciliation to U.S. GAAP. While the rule change was made after the SEC received and analyzed comments from various constituents...

The introduction of an impairment test for goodwill under IFRS is seen as another step toward moving financial accounting and reporting from its traditional historical cost paradigm to one of fair value. This regulatory change has been the subject of a growing body of literature which has often...

We complement recent research (Ball et al. 2003) which suggests that country-level incentives (i.e. legal origin and the level of capital market development) are the main determinants of the quality of financial reporting. Using a newly developed Brazilian Corporate Governance Index (BCGI) we...

In their joint framework project, the FASB and the IASB recently proposed dropping stewardship as one of the objectives of financial accounting, because the Boards view stewardship and valuation usefulness as compatible sub-objectives ranking under an overall objective of decision usefulness....

We investigate the market valuation of accounting information in the European banking industry before and after the adoption of IFRS, the latest version of International Accounting Standards (IAS). Building on Ohlson (1995), we apply panel methods to a multiplicative interaction model in which...

We investigate the accounting quality attributes of nineteen general purpose accounting standards implemented over the past thirty years. Our research is timely given recent criticism of U.S. standard setting, within the context of international convergence. Evidence on how U.S. accounting...