IDEAS home Printed from https://ideas.repec.org/a/eme/jaarpp/v9y2008i3p192-202.html
   My bibliography  Save this article

Qualitative characteristics of financial reporting: a historical perspective

Author

Listed:
  • Yousef Shahwan

Abstract

Purpose - This paper aims to provide a historical review for several leading documents in relation to the objectives of financial statements. These documents are:The Trueblood Report,The Corporate Report,Making Corporate Reports Valuable; andGuidelines for Financial Reporting Standards. These documents have a significant importance in financial reporting literature. Design/methodology/approach - Content analysis approach was adopted in this study given its analytical and comparative nature of historical documents. In terms of studying historical data, content analysis main advantage is objectivity, in addition to its ability to provide unobtrusive evidence of historical trends. Findings - The historical review showed that the basic objective of financial statements is concerned with providing useful information for economic decision making. In addition, it emphasized that information is useful when: it shows economic reality of the financial statements (i.e. balance sheet, income statement and cash flow statement); and it is relevant and reliable to users. Practical implications - In view of the comparison and analysis above, the four documents emphasized on the usefulness of accounting for decision‐making purposes and as such it leads to an inference that accounts should essentially portray economic reality. Originality/value - In light of current financial reporting failure, it is important to revise leading documents in relation to the objectives of financial statements and to evaluate current developments. This paper is of much value to the accounting profession, as well as to the corporate reporting setters.

Suggested Citation

  • Yousef Shahwan, 2008. "Qualitative characteristics of financial reporting: a historical perspective," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 9(3), pages 192-202, November.
  • Handle: RePEc:eme:jaarpp:v:9:y:2008:i:3:p:192-202
    DOI: 10.1108/09675420810919748
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/09675420810919748/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers

    File URL: https://www.emerald.com/insight/content/doi/10.1108/09675420810919748/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers

    File URL: https://libkey.io/10.1108/09675420810919748?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Noor Fadzlina Mohd Fadhil & Noor Fikri Mohd Fadhil, 2011. "Managing Company’s Financial Among Small And Medium Non-Manufacturing Companies," Far East Journal of Psychology and Business, Far East Research Centre, vol. 2(2), pages 17-36, January.
    2. Fransisca Listyaningsih Utami & Yananto Mihadi Putra & Putri Renalita Sutra Tanjung & Lucky Nugroho, 2020. "Analysis of Audit Opinion of Financial Statements From State Institutions: Indonesia Empirical Study, Period 2012-2017," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(5), pages 150-160, October.
    3. Nurulhasanah Abdul Rahman & Rafisah Mat Radzi, 2015. "Determinants of Effective Financial Risk Management in Small Business: A Theoretical Framework," Information Management and Business Review, AMH International, vol. 7(2), pages 87-92.
    4. Andra M. ACHIM & Anca O. CHIŞ, 2014. "Financial Accounting Quality And Its Defining Characteristics," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 5, pages 93-98, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jaarpp:v:9:y:2008:i:3:p:192-202. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.