Setting Standards for Financial Reporting: FASB and the Struggle for Control of a Critical Process [Hardcover]

Robert Van Riper (Author)

Book Description

ISBN-10: 0899309070 | ISBN-13: 978-0899309071 | Publication Date: July 30, 1994

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.

Editorial Reviews

Review

“Van Riper tells the contentious history of a private sector group establishing accounting standards in the U.S. He details the legislative history of the Securities and Exchange Commission, including their decision to allow the private sector to establish accounting standards and the demise of the FASB's predecessor groups. He captures the reader's attention by documenting the conflicting philosophies of financial statement preparers and the Board. For upper-division undergraduate through professional collections.”–Choice

“...an interesting read for accountants, laying bare how things really get done at the peak of the accounting power structure.”–Management Accounting

“Van Riper's book is well written and was scrupulously researched. The contents can be appreciated by a large audience, and the book would be provocative reading in a course that undertakes to prepare students for the rough-and tumble real world of accounting.”–The Accounting Review

About the Author

ROBERT VAN RIPER is a retired senior member of the staff at the Financial Accounting Standards Board, 1973-1991.

Product Details

• Hardcover: 216 pages
• Publisher: Quorum Books (July 30, 1994)
• Language: English
• ISBN-10: 0899309070
• ISBN-13: 978-0899309071
• Product Dimensions: 9.3 x 6.3 x 1 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Amazon Best Sellers Rank: #1,751,008 in Books (See Top 100 in Books)

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