Argument against the case an accounting standard to regulate the way in which complex financial instruments are reported in the financial statements of quoted companies

INTRODUCTION : In this essay, I would like to start with a brief explanation about the accounting regulation and standards set for various treatments consists of gaps where the rules are vague or even incomplete. Then, I would like to give a brief introduction about the development of standards set for capital instrument, such as TR677 (ICAEW), FRED 3 and FRS 4. Next, I will go into details examining the problems found in these proposals and standard, especially …showed first 75 words of 2355 total…

…showed last 75 words of 2355 total…Andrew Marshall, and Tony Puxty, (1991), 'NFIs: Treatment and Disclosure', Accountancy, January, pp. 66-67 Atul K. Shah, (1997), Regulatory Arbitrage Through Financial Innovation', Accounting, Auditing & Accountability Journal, Vol. 10, No. 1, pp. 85-104 Andrew Lennard, (1992), 'Debt, equity or something else?' Accountancy Chris Westwich, (1994), 'What is the profit on repurchase of debt?' Accountancy, June, pp. 124-125 Barry Johnson, (1994), 'Practical Problems With FRS 4', Accountancy, June, pp. 124-125 Roger Wood, (1993), 'A View From the Broadroom', Accountancy, July, pp. 96-97