... 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...

.... January 2015 January 2016 2016 IFRS market-to-book non-GAAP predictability reliability value relevance Over the past decade, the increased globalization of worldwide capital markets has led to the realization that global convergence in accounting standards was a desirable aim...