Prior research documents that conditional conservatism, measured as the asymmetric timeliness of earnings reflecting bad versus good news, varies with cross-country differences in institutional regimes. In this paper, we examine the determinants of conditional conservatism and related earnings...

The European Union (EU) is constructed under the federalist principle of subsidiarity, which this paper con-siders in the policy field of financial reporting. We attempt to answer the question whether the current governance level of accounting regulation in Europe is balanced between centralised...

International Financial Reporting Standards (IFRS) have recently been adopted in a number of jurisdictions, including the European Union. Despite the importance of IFRS in the context of global accounting standards harmonization, little is known regarding what institutional factors influence...

When annual earnings are regressed on annual returns, the returns coefficient is higher when returns are negative. The difference between the coefficients of earnings on positive and negative returns is called asymmetric timeliness of earnings and, in the accounting literature, is used...

This paper describes and summarizes the USAID Accounting Reform Project in Armenia. After a brief introduction that discusses the history and culture of Armenia, the paper goes into a discussion of the major aspects of accounting reform, which included assisting the Finance Ministry adopt and...

Lang, Raedy and Wilson (2006) examine the properties of U.S. GAAP accounting numbers provided by cross-listed firms and compare them to those of U.S. firms. Using a wide range of properties related to earnings management, timely loss recognition, and value relevance, LRW show that accounting...

On the basis of accounting and market data for firms and groups listed on German stock exchanges between 1997 and 2003, we show that the value relevance of Ramp;D information under German accounting standards can be superior to that provided by US-GAAP and IAS. The results, obtained while...

This paper has the purpose of surveying and critically analyzing the effects of accounting procedures which are closely related to groups of companies operating multinationally. These are the methods for translation of financial statements, e.g. the Temporal and the Closing-rate Methods, as far...

Two standard setting approaches have emerged globally to guide the choice of accounting for securitizations: the control and components approach (FAS125/FAS140) and the risks and rewards transfer approach (IAS39). A lack of consensus about derecognition accounting is a major impediment to...

This paper examines factors that affect the accounting system in Russia as it moves toward the adoption and implementation of International Financial Reporting Standards (IFRS). Current rules are examined and selected Russian Accounting Standards (RAS) are compared to IFRS, followed by a...