 Why municipalities fail: Implications for uncertainty disclosuresAmanda W. Beck and Mary S. Stone Research in Accounting Regulation, 2017, vol. 29, issue 1, 1-9 Abstract: Why Nations Fail (Acemoglu and Robinson 2012), a book widely and favorably reviewed by the business press (MacLeod 2013), identifies political and economic factors that allow some jurisdictions to prosper while other, often geographically and culturally similar, jurisdictions languish. The book's propositions are based on detailed case studies of countries across time and continents. The study summarized here follows a similar approach by relying on hand-collected evidence of municipalities that failed in the sense they ceased to exist as separate legal entities.11The research described in this article was funded by a GASB Gil Crain Grant. The policy recommendations in this article were not included in the report provided to the GASB. This evidence is used as a basis for identifying misconceptions about governments as going concerns, redefining what it means for a government to be a going concern, suggesting ways to improve disclosures related to going concern uncertainty (as redefined), and identifying questions for future policy-relevant research. Keywords: Municipal dissolution; Going concern; Financial distress; GASB; Governmental accounting (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:reacre:v:29:y:2017:i:1:p:1-9 DOI: 10.1016/j.racreg.2017.04.001 Access Statistics for this article Research in Accounting Regulation is currently edited by G. Previts More articles in Research in Accounting Regulation from Elsevier |
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