b.a. rutherford

Written by a well-known author, this book makes a major contribution to the history of financial reporting, exploring the current and international aspects of standard setting.

Compiled through consultation of a considerable amount of relevant literature and interviews with a large number of key players of the ASC, it analyzes the big ‘set battles’ between standard setters and preparers of financial statements, over topics such as price change accounting, goodwill, and leasing and foreign currency translation, the stand-offs which delayed development in specific areas and the smaller skirmishes which impeded the work of improving financial reporting.

It covers a range of topics, including:

• the formulation of standards on specific topics
• the evolution of the institutional machinery of standard-setting
• the politics of standard-setting
• the theory of accounting standardization
• the emergence of a conceptual framework for financial reporting.

A fine account of the period following the 1960s, charting the history of the Accounting Standards Committee, this book is an essential resource for business and finance students.