Accountors, Accountants and Standard No. 8

Frederick D S Choi, Howard D Lowe and Reginald G Worthley
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Frederick D S Choi: University of Hawaii
Howard D Lowe: University of Hawaii
Reginald G Worthley: University of Hawaii

Journal of International Business Studies, 1978, vol. 9, issue 2, 87 pages

Abstract: This article surveys the reactions of financial executives (accountors) and professional accountants to the recent Financial Accounting Standards Board's recent pronouncement on foreign currency translation. CPAs were found to be generally supportive of the FASB and the provisions of its controversial standard. Financial executives, in stark contrast, were generally opposed to major provisions of FASB 8.Managerial implications of the survey findings are discussed in the article's conclusions. A major concern is that executives of multinational companies may increase their attention to hedging accounting-induced financial statement effects which may have little to do with the economic effects of fluctuating foreign exchange rates.© 1978 JIBS. Journal of International Business Studies (1978)9, 81–87

Date: 1978
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