... that help explain “why accounting matters,” including: (1) reliability, as captured by strong legal institutions, (2) accruals, (3) increased disclosure, (4) greater comparability, and (5) the use of historical costs (at least for contracting purposes). Notably, the overarching characteristic, which...

... standards such as Canadian GAAP. Editor's note: Accepted by Ervin L. Black. January 2015 January 2016 2016 IFRS market-to-book non-GAAP predictability reliability value relevance With respect to the relation between the adoption of IFRS and earnings quality...