Statement 159 and the Intersection of Convergence, Reliability, and Comparability

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-06-01 DOI:10.2308/aahj-2021-027

J. D. Keyser

引用次数: 0

Abstract

In February 2007, the FASB issued Statement 159 to provide entities the discretion to select financial instruments to be measured at fair value in the balance sheet. Entities quickly identified an opportunity to exploit Statement 159’s transition provisions to transfer unrealized losses directly to stockholders’ equity, bypassing the income statement. This paper describes the events surrounding the issuance of Statement 159 and examines the reasons why the FASB issued a standard that had the potential to reduce financial statement comparability and provide a mechanism for earnings manipulation. The paper contributes to historical research in three areas: convergence of U.S. GAAP with IFRS, changes in accounting standards, and the FASB’s Conceptual Framework.

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表述159与收敛性、可靠性和可比性的交集

2007年2月，美国财务会计准则委员会发布了第159号声明，赋予企业在资产负债表中选择以公允价值计量的金融工具的自由裁量权。实体很快发现了一个机会，利用第159号报表的过渡条款，将未实现损失直接转移到股东权益，绕过损益表。本文描述了围绕第159号声明发布的事件，并探讨了美国财务会计准则委员会(FASB)发布一项有可能降低财务报表可比性并为盈余操纵提供机制的标准的原因。本文对三个领域的历史研究做出了贡献:美国公认会计准则与国际财务报告准则的趋同，会计准则的变化，以及FASB的概念框架。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.