The Nature of Accounting Regulation (Hardback) book cover

The Nature of Accounting Regulation

By Ian Dennis

© 2013 – Routledge

136 pages

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Paperback: 9781138212633
pub: 2016-08-26
Hardback: 9780415891950
pub: 2013-06-17
eBook (VitalSource) : 9780203796030
pub: 2013-10-15
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Accounting standards are an essential element in the regulation of current financial reporting. Standard setters promulgate such standards, and companies and professional accountants follow them in preparing financial reports. Although much has been written about the history of standard setting, the conceptual underpinnings of accounting standards, the process of setting them, and whether such standards should be ‘rules-based’ or ‘principles-based,’ there has been little written about the kind of thing they are. This book examines the nature of accounting standards and the very idea of a rule, of implementation guidance, and of the objectives that are included in them. It enables the reader to grasp the reasons for promulgating standards, the role of the conceptual framework in setting standards in an institutional context, and the kind of rules that are useful in regulating financial reporting. The insights provided by this examination are used to throw light on the distinction between ‘principles-based’ and ‘rules-based’ standards and on the nature of ‘good’ accounting standards.'

Table of Contents

1.Introduction 2.The Nature of Modern Accounting Practice 3.The Role of Theory and of Conceptual Frameworks in Standard Setting 4.Kinds of Rules in Accounting Standards 5.The Nature and Role of Explanatory Guidance in Accounting Standards 6.he Nature and Role of Objectives in Accounting Standards 7.The Anatomy of Accounting Standards 8.Implications for Standard Setters

About the Author

Ian Dennis is Senior Lecturer and was formerly Head of the Accounting Department at Oxford Brookes University Business School.

About the Series

Routledge Studies in Accounting

This series explores the roles of Accounting and Accounting theory in the modern world. The series examines research in accounting thought, practice, auditing, principles and ethics as well as international standards and regulation setting. Examining private, public and non-profit sectors, Routledge Studies in Accounting, seeks to advance the scholarly debate by providing cutting edge and insightful research

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Accounting / Financial
BUSINESS & ECONOMICS / Business Ethics