The Equity Theories and the IASB Conceptual Framework

Mourik, Carien van

doi:10.1080/17449480.2014.949278

Cited by 10 publications

(7 citation statements)

References 11 publications

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“…CF2018.3.8 notes that financial statements follow the entity perspective as this is deemed 'consistent with the objective' (CF2018.BC3.10) of decision usefulness. Van Mourik (2014) outlines that the entity theory is not consistent with the approaches taken by the IASB in defining financial position and performance in its CF. According to her analysis, the IASB's CF is rather 'based on a mixture of Proprietary Theory and Residual Equity Theory' ( Van Mourik, 2014, p. 231).…”

Section: Financial Statements and The Reporting Entitymentioning

confidence: 99%

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The Return of Stewardship, Reliability and Prudence – A Commentary on the IASB’s New Conceptual Framework

Pelger

2019

Accounting in Europe

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In March 2018, the IASB published its revised conceptual framework including notable changes to the chapters on the objective of financial reporting and on qualitative characteristics. The IASB put more emphasis on stewardship as part of the decision usefulness objective, reintroduced prudence as an aspect of neutrality and introduced a tolerable level of measurement uncertainty (as a successor to reliability) as part of faithful representation. The present paper discusses the substance of and reasons for these changes in light of the history of the IASB's work on conceptual frameworks. The paper also explores the possible impact of these changes on the IASB's future standard-setting by looking at the other chapters of the IASB's new framework. This paper finds that the more pronounced role of stewardship and the reintroduction of prudence do not seem to entail a revised conceptual thinking of the IASB in the other chapters, while the introduction of a tolerable level of measurement uncertainty provides the IASB with a conceptual tool with the potential to substantially affect future standard-setting debates. However, its positioning as part of faithful representation is questioned and an alternative arrangement of qualitative characteristics suggested.

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Section: Financial Statements and The Reporting Entitymentioning

confidence: 99%

“…While several recent articles have addressed topics emerging from the CF revision (e.g. Barker & Teixeira, 2018;Barker, Lennard, Nobes, Trombetta, & Walton, 2014; Van Mourik, 2014; or the use of the CF in standard-setting (e.g. Brouwer, Hoogendorn, & Naarding, 2015;Walton, 2018) and practice (e.g.…”

Section: Introductionmentioning

confidence: 99%

The Return of Stewardship, Reliability and Prudence – A Commentary on the IASB’s New Conceptual Framework

Pelger

2019

Accounting in Europe

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“…9 It is apparent that the IASB's focus on investors has an elective affinity with the proprietary theory of the firm, according to which the firm is an exclusive vehicle for its proprietors to increase their wealth (e.g. Biondi, 2011;Van Mourik, 2014). Accordingly, the IASB has over time increased the use of fair value, considering it essential for tailoring financial reporting to the information needs of investors (De Jager, 2014;Müller, 2014;Zhang & Andrew, 2014).…”

Section: Economy and Society In The Iasb And Eu's Viewsmentioning

confidence: 99%

Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union

Palea

2018

Accounting Forum

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By adopting a political economy perspective to accounting (Cooper & Sherer, 1984), this paper provides an overall post-implementation assessment of IFRS adoption relative to the European Union's (EU) fundamental goal of sustainable development. Taken as a whole, the paper questions the consistency of the IASB's business view with the EU's and provides some critical insights into the potential long-run effects of IFRS on the European economy and society. It therefore raises several doubts about unquestioned accounting standardization at a global level and makes some suggestions for future policy-making and research.

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“…In addition, firms were not solely considered a source of income for its shareholders, but were expected to serve different stakeholders (Glaum, 2000). Correspondingly, stakeholders expected managers not to focus solely on shareholders’ financial interests but also to consider the interests of various wider groups (van Mourick, 2014). In this socio-economic context, financial accounting took on additional roles as an instrument to address and reconcile distributional conflicts between the different interest groups (Fülbier and Klein, 2015; Glaum, 2000).…”

Section: Thesis: Shaping the Dual Ledger Accounting Approachmentioning

confidence: 99%

Separation – integration – and now …? A historical perspective on the relationship between German management accounting and financial accounting

et al. 2016

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German accounting has traditionally followed a dual ledger approach with strictly separated internal cost accounting, as the basis for management information, and external financial accounting focusing on creditor protection and based on the commercial law. However, the increased adoption of integrated accounting systems implies a significant change in the relationship between financial and management accounting systems. We use Hegelian dialectic to trace the historical development of German accounting from separated systems and antithetical propositions of full integration, to the emergence of partial integration as the synthesis of this transformation process. The foundation of our paper is a comprehensive analysis of the literature on the relationship between financial and management accounting in Germany. On this basis, we elaborate how financial accounting in Germany has been shaped by its economic context and legislation, and how financial accounting – accompanied by institutional pressures – in turn influenced management accounting. We argue that the changing relationship between management and financial accounting in the German context illustrates how current accounting practice is shaped not only by its environment, but also by its historical path. Based on this reasoning, we discuss several avenues for future research.

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The Equity Theories and the IASB Conceptual Framework

Cited by 10 publications

References 11 publications

The Return of Stewardship, Reliability and Prudence – A Commentary on the IASB’s New Conceptual Framework

The Return of Stewardship, Reliability and Prudence – A Commentary on the IASB’s New Conceptual Framework

Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union

Separation – integration – and now …? A historical perspective on the relationship between German management accounting and financial accounting

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