Profit measurement and UK accounting standards: A case of increasing disharmony in relation to US GAAP and IASs

Article Abstract:

Accounting practice in the UK differs from International Accounting Standards (IASs), especially with regard to provision for deferred taxation, amortisation of goodwill and pension cost accounting treatments. The IASs have become closer to US practice under the core standards programmes of the IASC. The profit of UK companies reporting to the Securities and Exchange Commission in 1988 and 1994 is evaluated, and a widening gap was found between reported profit under UK accounting practices and those restated under US GAAP.

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Mining sector currency risk management strategies: responses to foreign currency accounting regulation

Article Abstract:

The introduction of the Approved Accounting Standard ASRB 1012 Foreign Currency Translation is investigated together with implications for business finance. The Australian mining industry, a high user of long-term foreign debt for commodity finance, is considered in depth. Findings suggest that adjustment to capital structure has been made to lessen the cost of foreign currency accounting changes, which are mandatory in the standard. There is the potential for a macro-economic reaction to the new standard.

Australia, Mining industry, Accounting and auditing

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How does changing measurement change management behaviour? A review of the evidence

Article Abstract:

The effects of accounting standards on reporting firms' economic behavior is examined through research done in the past three decades. Changes in economic behavior is consistent with the effects in accounting of changes in operating and financing decisions of firms, as well as regulatory use of accounting numbers. Research does not tell whether these changes are beneficial or otherwise.

United States, Science & research, Financial Systems & Controls, Financial Management, Research, Influence, Accounting standards, Report

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