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International Financial Reporting Standards (IFRS): Stress Testing in Financialized Reporting Entities

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  • Haslam Colin

    (Department of Business and Management, Queen Mary University of London, London E1 4NS, UK)

Abstract

These remarks deal with financialisation of accounting. Financialisation is a process by which windfall capital market gains are crystallised from future earnings over and above those available from current earnings and profit. Accounting numbers reported by business firms are increasingly including the product of windfall gains from capital markets into those accounting numbers. Thus a significant disturbance in market valuations embedded in firm’s assets and earnings could have a significant and material impact upon firm-level financial stability.

Suggested Citation

  • Haslam Colin, 2017. "International Financial Reporting Standards (IFRS): Stress Testing in Financialized Reporting Entities," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 7(2), pages 105-108, July.
    • Handle: RePEc:bpj:aelcon:v:7:y:2017:i:2:p:105-108:n:12
    DOI: 10.1515/ael-2017-0016
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    References listed on IDEAS

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    1. Littleton A. Charles, 2011. "Economists and Accountants," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(2), pages 1-11, June.
    2. Haslam Colin & Tsitsianis Nick & Hoinaru Razvan & Andersson Tord & Katechos George, 2016. "Stress Testing International Financial Reporting Standards (IFRS): Accounting for Stability and the Public Good in a Financialized World," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 6(2), pages 93-118, July.
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