• DOI:10.5897/JAT12.007
Corpus ID: 55872965

The domination of the pure form of capitalism over the objectives of financial statements (reporting)

@inproceedings{AbuAbbass2012TheDO,
  title={The domination of the pure form of capitalism over the objectives of financial statements (reporting)},
  author={Bassam Abu-Abbass and Riyadh Al-Abdullah},
  year={2012}
}

Bassam Abu-Abbass, Riyadh Al-Abdullah

Published 2012

Political Science

A careful analysis of four documents related to the formulation of objectives of financial statements (reporting) reveals that they are dominated by the pure form of capitalism. Two documents (the Trueblood Committee’s Report and SFAC No.1) are constructed as normative theories based explicitly on the U.S. culture. The other two documents (the IASB’s CF and the IASB-FASB’s Joint CF) are not constructed in a theory form but implicitly based on the U.S. cultural background.  The first two… CONTINUE READING

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