Article

Accounting and Financial Reporting

Lawrence A. Cunningham

in The Oxford Handbook of Corporate Law and Governance

ISBN: 9780198743682
Published online September 2015 | e-ISBN: 9780191803819 | DOI: http://dx.doi.org/10.1093/oxfordhb/9780198743682.013.15
Accounting and Financial Reporting

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This chapter examines the functions of corporate accounting and financial reporting around the world, with particular emphasis on how local realities that explain persistent diversity often pose a barrier to aspirations for a universal system. It first charts the history and progress of contemporary efforts to move accounting from its diverse local roots to a unified global stage before turning to a discussion of the varying functions of accounting and reporting laws around the world. It then looks at aspects of accounting that are affected by national variation, including securities regulation, corporate governance, and corporate finance. Finally, the chapter explains how related forces contribute to persistent divergence in financial reporting.

Keywords: accounting; financial reporting; diversity; laws; securities; corporate governance; corporate finance

Article.  8548 words. 

Subjects: Company and Commercial Law

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