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Political Standards : Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market Economy.

By: Ramanna, Karthik.
Material type: TextTextSeries: eBooks on Demand.Publisher: Chicago, IL : University of Chicago Press, 2015Copyright date: ©2015Description: 1 online resource (300 pages).Content type: text Media type: computer Carrier type: online resourceISBN: 9780226210889.Subject(s): AuditingGenre/Form: Electronic books.Additional physical formats: Print version:: Political Standards : Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market EconomyDDC classification: 657 Online resources: Click here to view this ebook.
Contents:
Contents -- List of Abbreviations -- List of Tables -- List of Figures -- Preface -- 1. Introduction -- 2. The Benchmark: What Should GAAP Look Like? -- 3. Goodwill Hunting: The Political Economy of Accountability for Mergers and Acquisitions -- 4. The Shrinking Big N: Rule-Making Incentives of the Tightening Oligopoly in Auditing -- 5. Why Fair Value Is the Rule: The Changing Nature of Standard Setters -- 6. Local Interests in Global Games: The Cases of China and India -- 7. My Own Private Company Council: How a New Accounting Rule-Maker Is Born -- 8. Political Standards: Lobbying in Thin Political Markets -- 9. Managers and Market Capitalism -- Afterword -- Bibliographic Note -- Acknowledgments -- Notes -- Bibliography -- Index.
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Item type Current location Call number URL Status Date due Barcode
Electronic Book UT Tyler Online
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HF5667 (Browse shelf) https://ebookcentral.proquest.com/lib/uttyler/detail.action?docID=4312105 Available EBC4312105

Contents -- List of Abbreviations -- List of Tables -- List of Figures -- Preface -- 1. Introduction -- 2. The Benchmark: What Should GAAP Look Like? -- 3. Goodwill Hunting: The Political Economy of Accountability for Mergers and Acquisitions -- 4. The Shrinking Big N: Rule-Making Incentives of the Tightening Oligopoly in Auditing -- 5. Why Fair Value Is the Rule: The Changing Nature of Standard Setters -- 6. Local Interests in Global Games: The Cases of China and India -- 7. My Own Private Company Council: How a New Accounting Rule-Maker Is Born -- 8. Political Standards: Lobbying in Thin Political Markets -- 9. Managers and Market Capitalism -- Afterword -- Bibliographic Note -- Acknowledgments -- Notes -- Bibliography -- Index.

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CHOICE Review

Ramanna (business administration, Harvard) examines the accounting standard-setting process primarily in, but not limited to, the US. He argues that the process is flawed largely because it exists in what he describes as a "thin political market." In such an environment, the standards are created, of necessity, by the limited number of individuals possessing the requisite technical knowledge and skill to do so. These people, however, have vested interests in the outcomes of the process, and because of the highly technical nature of the subject matter, the process is not subjected to much public scrutiny. Ramanna argues that in individual cases, the process has been "captured" by individuals or groups most affected by the standard in question. The groups consist primarily of corporate management, financial industry executives, auditors, and accountants. The author emphasizes the critical nature and importance of the process and suggests ways to begin correcting the current flaws. Summing Up: Recommended. Graduate students, researchers, faculty, professionals. --Francis A. Marino, Assumption College

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