“Trading Places”: A UK (and IFRS) Comment

Macve Richard ()
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Macve Richard: London School of Economics, London, UK

Accounting, Economics, and Law: A Convivium, 2013, vol. 4, issue 1, 27-40

Abstract: This paper is based on my presentation given as part of a panel discussion at the 2012 Annual Meeting of the American Accounting Association in August 2012 in Washington DC. To the other panellists’ papers (Glover, 2013; Zeff, 2013b) I add a contrasting perspective from other countries (primarily the UK and the rest of Europe) that incorporates a variety of other actors and differing uses (or ‘objectives’) of financial accounting and reporting. I consider briefly in turn: the major actors; major external uses of financial reports; the ‘rational institutional myths’ that sustain the role of accounting standards; and the potential contributions both of research and of university accounting education. I argue that ‘positive’ and ‘normative’ research, reflecting a deep understanding of accounting’s history, must continue to be complementary in the social engineering of better accounting standards and rules.

Keywords: IFRS; accounting regulation; accounting academics (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1515/ael-2013-0011

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