The recent revision of the IASB's Conceptual Framework (CF) was accompanied by a debate among the IASB and its constituents about the meaning and importance of the concept of prudence in financial reporting. This paper adopts a historical perspective to identify possible sources of the ambiguity...

Austria and Germany share similar accounting traditions. International harmonization in both countries has mainly focused on group accounting. In contrast, single financial statements give rise to legal and tax consequences and, thus, are still tied to the traditional principles of orderly...