Accounting standards – a new era

Abstract

The author analyses the recent history of financial reporting and shows that its complexities are inevitable. He sets out the basis for a fair value model stemming from a conceptual framework and argues that if financial reporting rules are to be correctly drawn from such a framework the resulting reports will be complex and require well‐trained professional analysis to both understand them and to explain them.

Citation

Damant, D. (2003), "Accounting standards – a new era", Balance Sheet, Vol. 11 No. 1, pp. 9-20. https://doi.org/10.1108/09657960310467836