Setting Standards for Financial Reporting: Fasb and the Struggle for Control of a Critical Process

Robert Van Riper

ISBN 10: 0899309070 / ISBN 13: 9780899309071

Published by Quorum Books, 1994

About this Item

216 pages. 9.75x6.50x0.75 inches. In Stock.

Seller Inventory # x-0899309070

Bibliographic Details

• Title: Setting Standards for Financial Reporting: Fasb and the Struggle for Control of a Critical Process
• Publisher: Quorum Books
• Publication Date: 1994
• Language: English
• ISBN 10: 0899309070
• ISBN 13: 9780899309071
• Binding: Hardcover
• Condition: Brand New
• Weight: 0.8 kilograms

About this title

Synopsis

The book begins with an overview of how and why the present self-regulatory arrangement for setting standards for financial reporting in the private sector came about in 1973. A brief description of the new structure is followed by a discussion of the essential elements of meaningful self-regulation. A schism emerged between advocates of neutrality and objectivity in standard setting and those who think the primary concern should be for possible economic and social consequences. Early clashes between traditional views and newer insights are described, setting the stage for an account of serious resistance to change. Powerful interests mount determined efforts to thwart the standard setters, undercutting not only self-regulation, but also the intent of the federal securities acts of 1933 and 1934. The practical and philosophical bases for the opposing views are examined, and recommendations are presented for ensuring continuation of private-sector standard setting despite the intensity of these views.

About the Author

ROBERT VAN RIPER is a retired senior member of the staff at the Financial Accounting Standards Board, 1973-1991. Prior to that, he was senior vice president of N.W. Ayer, Inc. He is the author of many articles in business and professional journals and two novels.