The Usefulness of the Asset-Liability View : An Analysis of Conceptual Frameworks and the Implications for Norwegian Accounting Regulation

ISBN-13: 9783639151541 / Angielski / Miękka / 2009 / 408 str.

Steinar Sars Kvifte

Opis

The Finanical Accounting Standards Board (FASB) in the US initiated in 1973 a conceptual framework for financial reporting project. The International Accounting Standards Committee (IASC) issued a similar framework in 1989. The conceptual framworks was a response to a general demand for cohesive accounting theory and a vehicle for setting conceptually consistent accounting standards. To reach this objective, the FASB and the IASB believed that the asset-liability view would be a better basis than the the traditional revenue-expense approach. In the book, the author explores the conceptual differences between the two views, whether the asset-liability view is in fact useful in standard setting, and whether the asset-liability view is a better basis for providing decision useful information to the users of financial reports.

O autorze

Steinar Sars Kvifte is Technical Partner in Ernst & Young Norway
and Associate Professor at the Norwegian School of Economics and
Business Administration. This book is his PhD dissertation
approved in 2004.