Prof. Jayanth R. Varma's Financial Markets Blog

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Prof. Jayanth R. Varma's Financial Markets Blog, A Blog on Financial Markets and Their Regulation

© Prof. Jayanth R. Varma
jrvarma@iima.ac.in

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Mon, 10 Jul 2006

Accounting Standard Setters Capitulate to Financial Economics

The International Accounting Standards Board and the US Financial Accounting Standards Board have issued preliminary drafts of the first two chapters of their proposed joint Conceptual Framework for Financial Reporting. This available at the FASB web site.

The draft document appears to me to represent the triumph of financial economics over traditional accounting. For example:

Posted at 15:55 on Mon, 10 Jul 2006     View/Post Comments (0)     permanent link