Historical developments in the accountancy profession, financial reporting, and accounting theory / C. Richard Baker & Martin E. Persson.

Format:

Book

Author/Creator:

Baker, C. Richard, 1946- author.

Persson, Martin E., author.

Series:

Studies in the development of accounting thought ; Volume 25.

Studies in the Development of Accounting Thought ; Volume 25

Language:

English

Subjects (All):

Accounting--History.

Accounting.

Accounting--Standards--History.

Physical Description:

1 online resource (207 pages)

Place of Publication:

Bingley, England : Emerald Publishing, [2022]

Summary:

Historical Developments in the Accountancy Profession, Financial Reporting, and Accounting Theorycontains ten manuscripts authored by C. Richard Baker during an academic career that spans four decades, picking up on various understudied threads of academic and professional initiatives over the past several hundred years.

Contents:

Intro

Half Title Page

Series Editor Page

Title Page

Copyright Page

Contents

List of Figures

List of Tables

About the Authors

Foreword

Acknowledgments

Section 1: Financial Reporting and the Accountancy Profession

Chapter 1: Contrasting Institutional Logics: Historical Development of the Public Accountancy Professions in the United Kingdom and France

Introduction

Review of Prior Literature

United Kingdom

Historical Background of Professional Accountancy in the United Kingdom

Institutional Logics Influencing the Regulation of the Accountancy Profession in the United Kingdom

France

Historical Background of Professional Accountancy in France

Institutional Logics Pertaining to the Regulation of Public Accountancy in France

Summary and Conclusion

Chapter 2: A Brief History of the United States Standard Auditor's Report

The Need for the Audit Report in the Early 1900s

The First US Audit Report Suggested by a Government Body

Creation of the First Standard Audit Report

Generally Accepted Auditing Standards and the Audit Report

The Audit Report and a Renewed Attention to Detection of Fraud

The Standard Auditor's Report with a Three-paragraph Format

The PCAOB and Revision of the Audit Report in the Early 2000s

The Standard Auditor's Report as We Know it Today

Concluding Remarks

Chapter 3: The History of Accounting Standards Setting in the United States Prior to the Creation of the Committee on Accounting Procedure

Accounting Practices of Business Enterprises and the Influence of Professional Accountants

Accounting Standards Setting by the US Federal Government Prior to the Enactment of the Securities Acts

Rate of Return Regulation and Standards Setting

The Internal Revenue Acts and Accounting Standards Setting.

The Federal Reserve Board and Standards Setting

The Influence of Accounting Theory on Accounting Standards Setting

The Intellectual Context Surrounding the Origins of Accounting Theory in the United States

The Search for an Agreed upon Set of Concepts and Principles for Financial Accounting

The Postulates Approach to Accounting Theory

The Principles Approach to Accounting Theory

The Transition toward a Recognized Accounting Standards-setting Body

Correspondence between the AIA and the New York Stock Exchange

The Impact of the Securities Acts on Accounting Standards Setting

Competing Notions of Generally Accepted Accounting Principles

The Response of the SEC

The CAP as the First Accounting Standards-setting Body in the United States

Chapter 4: The Influence of Accounting Theory on the FASB Conceptual Framework

The Emergence of Accounting Theory

The Initial Role of the US Federal Government

The Intellectual Context Surrounding the Origins of Accounting Theory

The Influence of German Accounting Theory

The Transition Toward an Accounting Standard Setting Body

Correspondence between the NYSE and the AIA

The Impact of the Securities Acts

The Creation of the CAP

The Movement Toward a Conceptual Framework

A Statement of Basic Accounting Theory

The Wheat Committee and the Trueblood Committee

The Emergence of the Conceptual Framework

Discussion

Conclusion

Chapter 5: The Role of Financial Reporting in Corporate Governance

The Historical Context of Financial Reporting.

Efforts to Articulate a True and Fair View

Efforts Toward the Harmonization of Accounting Standards

Models of Financial Reporting

The Actual Financial Reporting Model

A New Model of Financial Reporting

Section 2: Accounting Measurements and Theory

Chapter 6: A Genealogy of Positivist and Critical Accounting Research

A Genealogical View of Accounting Research

A Genealogy of Positivist Accounting Research

A Genealogical History of Critical Accounting Research9

Conflicts in the Evolution of the Critical Paradigm

Chapter 7: Principles Versus Rules-based Accounting Standards

Comparing Substance Over Form in US GAAP and IAS

Off-Balance Sheet Financing

Accounting for SPEs

Enron's Use of SPEs

The Raptor SPEs2

Other Misleading Accounting Practices

Capital Stock Transactions

Revenue Recognition

Recognizing Increases in the Value of Enron's Common Shares

Revenue Recognition and MTM Accounting

Enron's Use of MTM Accounting

Accounting Disclosures

Enron's Deficiencies in the Area of Financial Statement Disclosure

The Implications of the Enron Collapse for US GAAP

Chapter 8: The Concept of Prudence in Accounting

The Concept of Prudence in Accounting

The Rationale for Prudence in Financial Reporting

Differing Concepts of Prudence in National Traditions

Historical Evolution of the Concept of Prudence

The Concept of Prudence in Philosophical Discourse

The Concept of Prudence in Legal Theory

The Concept of Prudence in Eighteenth Century Economic Theory

The Concept of Prudence as a Bourgeois Moral Virtue

The Concept of Prudence According to Max Weber

Discussion and Summary of Historical Approaches to the Concept of Prudence.

The Concept of Prudence in British Accounting

Chapter 9: The Challenge of Measuring Intangibles: Insights from Brand Valuation

Theoretical Approaches to Brand Valuation

The Cost-based Approach

The Market-based Approach

The Earnings and Cash Flow Approach

Formulaic Approaches

Brand Valuation Methodologies

Brand Value Measurements and Fair Value Measurements

Fair Value Measurements

Fair Value Measurement of Intangibles such as Brands

An Empirical Study of the Value Relevance of Brands

Value Relevance Research

Methodology and Findings

Chapter 10: The Concept of Measurement in Financial Reporting

Measurement in Financial Reporting

The Concept of Measurement in the FASB Conceptual Framework

The Concept of Measurement in the IASB Conceptual Framework

Is Financial Accounting Measurement a Measurement Process?

Sterling's Concept of Measurement

The IASB Fair Value Measurement Project

Appendix 1

American Institute of Accountants, Incorporated under the Laws of D.C.

Appendix 2

Statement of Financial Accounting Concepts

References

Index.

Notes:

Description based on print version record.

ISBN:

1-80117-804-6

OCLC:

1283855785