Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.13/929466

OpenURL Link
Title
Do 'substance-over-form' accounting standards lead to biased financial reporting?: an Australian experiment
Author/Creator
Psaros, Jim
Description
International accounting standards are deliberately designed to be principles-based (ie. “substance-over-form”). With Australia’s recent adoption of international accounting standards a relevant question is, do substance-over-form accounting standards lead to biased financial reporting? The paper describes a study which analysed the consolidation judgments of senior accounting officials from Australian listed companies. Subjects made consolidation judgments based on AASB 1024 Consolidated Accounts. While AASB1024 is not identical to IAS 127 Consolidated and Separate Financial Statements, there are many similarities and both follow a substance-over-form approach. In aggregate, the study found that substance-over-form accounting standards do not necessarily lead to biased financial reporting.
Relation
AFAANZ 2005 Annual Conference. Proceedings of the AFAANZ 2005 Annual Conference (Melbourne 3 - 5 July, 2005)
Relation
http://www.afaanz.org/html/web2005/index.htm
Date
2005
Publisher
Accounting and Finance Association of Australia and New Zealand (AFAANZ)
Keyword(s)
accounting standards;  financial reporting;  AASB 1024 Consolidated Accounts;  substance-over-form
Resource Type
conference paper
Identifier
http://hdl.handle.net/1959.13/929466
Identifier
ISBN:9780975697610
Language
eng
Reviewed
Reviewed
115 Visitors 136 Hits 0 Downloads
Save/E-mail Citation
Citation Format
E-mail Address
Subject
"Do 'substance-over-form' accounting standards lead to biased financial reporting?: an Australian experiment"
 
OR