Social Norms versus Standards of Accounting
Historically, norms of accounting played an important role in corporate financial reporting. Starting with the federal regulation of securities, accounting norms have been progressively replaced by written standards. While social norms are maintained through an informal process of social as well as international sanctions, standards require more formal enforcement mechanisms, often supported by implicit or explicit power of the state to impose punishment. The spate of accounting and auditing failures of the recent years raise questions about the wisdom of this transition from norms to standards. Many aspects of family, local, professional, social, national and international behaviors continue to be governed by mechanisms in which norms play an important role. It is possible that the pendulum of standardization in acco
|Date of creation:||01 May 2005|
|Date of revision:||01 Sep 2005|
|Contact details of provider:|| Web page: http://icf.som.yale.edu/|
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Karim Jamal & Michael Maier & Shyam Sunder, 2005. "Enforced Standards Versus Evolution by General Acceptance: A Comparative Study of E-Commerce Privacy Disclosure and Practice in the United States and the United Kingdom," Journal of Accounting Research, Wiley Blackwell, vol. 43(1), pages 73-96, 03.
- Sunder, Shyam, 2002.
"Regulatory competition among accounting standards within and across international boundaries,"
Journal of Accounting and Public Policy,
Elsevier, vol. 21(3), pages 219-234.
- Shyam Sunder & Journal Accounting, 2002. "Regulatory Competition Among Accounting Standards Within and Across International Boundaries," Yale School of Management Working Papers ysm317, Yale School of Management, revised 01 Feb 2003.
- Shyam NMI Sunder, 2002.
"Regulatory Competition for Low Cost-of-capital Accounting Rules,"
Yale School of Management Working Papers
ysm305, Yale School of Management.
- Sunder, Shyam, 2002. "Regulatory competition for low cost-of-capital accounting rules," Journal of Accounting and Public Policy, Elsevier, vol. 21(2), pages 147-149.
- Posner, Richard A, 1997. "Social Norms and the Law: An Economic Approach," American Economic Review, American Economic Association, vol. 87(2), pages 365-69, May.
- Ellickson, Robert C, 1998. "Law and Economics Discovers Social Norms," The Journal of Legal Studies, University of Chicago Press, vol. 27(2), pages 537-52, June.
- repec:aei:rpbook:53576 is not listed on IDEAS
- Shyam NMI Sunder & Ronald A. Dye, 2001. "Why Not Allow the FASB and IASB Standards to Compete in the U.S.?," Yale School of Management Working Papers ysm192, Yale School of Management.
When requesting a correction, please mention this item's handle: RePEc:ysm:somwrk:amz2525. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.