Determining a Consistent Set of Accounting and Financial Reporting Standards

Anne Le Manh-Béna () and Olivier Ramond ()
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Anne Le Manh-Béna: ESCP Europe - Ecole Supérieure de Commerce de Paris
Olivier Ramond: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique

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Abstract: Following the debate on the Conceptual Framework revision undertaken by the IASB and the FASB, this paper discusses three major concerns about the way financial reporting standards should be determined: (1) What is the role a Conceptual Framework?; (2) For whom and for which needs are accounting and financial reporting standards made?; and (3) What information set should financial reporting provide? We show that the perceived need of a Framework has resulted in practice in weak usefulness We note that arguments used in the IASB-FASB new Framework to justify the focus on the needs of capital providers are questionable and so is the hypothesis according to which the content of these financial statements should aim at providing useful information in making decisions about allocation of resources.

Keywords: Conceptual Framework; IASB; Financial Reporting Objectives; Users; cadre conceptuel; objectifs des états financiers; utilisateurs des états financiers (search for similar items in EconPapers)
Date: 2011-05-10
New Economics Papers: this item is included in nep-acc
Note: View the original document on HAL open archive server: https://hal.science/hal-00694333v1
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Published in 32ème congrès de l'AFC, May 2011, Montpellier, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00694333

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