Visions of China…as a hotbed of unreliable measurements

One hundred academics and non-academics recently met in Sydney, Australia, for the 2018 IASB Research Forum, to discuss some of the latest research into financial reporting matters. The Forum is organized annually by the IASB in collaboration with an academic journal to create a platform for presentations and discussions of new accounting research of relevance…

Neutrality in MD&A, or: good but a little devilish?

At a recent meeting of the Accounting Standards Advisory Forum, the group discussed the ongoing Management Commentary project. Among the issues set out in the underlying agenda paper was the staff’s proposal “that the revised Practice Statement will describe how management could apply (various) aspects of neutrality that could alter a user’s assessments.” The concept…

Overwhelming evidence of failure, or: play it again Al…

Canadian Accountant recently published Overwhelming Evidence of IFRS Failure, an article by our old friend Al Rosen The article is classic Rosen, a sort of accounting-commentary equivalent of an aging rock star touring his greatest hits, wooing even skeptics with the implied promise that we might never get to hear them again (even as we…

Discount rates, or: would you take this at face value?

The IASB has issued a project summary on its research into discount rates Here’s how it summed things up: Some IFRS Standards require or allow companies to use different discount rates for estimating future cash flows. In some cases, the differences are clearly justified because they reflect different risk factors or circumstances. In other cases, the reasons…

Disclosures on Brexit, or: Bye-Bye Britain…

As I post this article, Brexit is less than three weeks away, although by the time you read this (even if you’re reading it fairly promptly) that may no longer be true, overtaken by a postponement, or by Britain choosing instead to sink into the sea… From my point of view, the only discernible virtue…