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“Trading Places”: A UK (and IFRS) Comment

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  • Macve Richard

    (London School of Economics, London, UK)

Abstract

This paper is based on my presentation given as part of a panel discussion at the 2012 Annual Meeting of the American Accounting Association in August 2012 in Washington DC. To the other panellists’ papers (Glover, 2013; Zeff, 2013b) I add a contrasting perspective from other countries (primarily the UK and the rest of Europe) that incorporates a variety of other actors and differing uses (or ‘objectives’) of financial accounting and reporting. I consider briefly in turn: the major actors; major external uses of financial reports; the ‘rational institutional myths’ that sustain the role of accounting standards; and the potential contributions both of research and of university accounting education. I argue that ‘positive’ and ‘normative’ research, reflecting a deep understanding of accounting’s history, must continue to be complementary in the social engineering of better accounting standards and rules.

Suggested Citation

  • Macve Richard, 2013. "“Trading Places”: A UK (and IFRS) Comment," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 4(1), pages 27-40, April.
    • Handle: RePEc:bpj:aelcon:v:4:y:2013:i:1:p:27-40:n:1
    DOI: 10.1515/ael-2013-0011
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    References listed on IDEAS

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