Forthcoming and Online First Articles

American Journal of Finance and Accounting

American Journal of Finance and Accounting (AJFA)

Forthcoming articles have been peer-reviewed and accepted for publication but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.

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American J. of Finance and Accounting (One paper in press)

Regular Issues

  • The comparability effects of principles based standards   Order a copy of this article
    by David Caban 
    Abstract: This paper delves into the impact of transitioning from rules-based to principles-based accounting standards and its effect on financial statement comparability. The study leverages the ASC 606 adoption as a unique event to assess how this shift influenced the comparability of financial statements across industries and its effect on analyst coverage. Drawing upon the foundational work of De Franco et al. (2011) to develop a financial comparability measure, the paper evaluates the research question employing multi-variate regression models to explore potential changes in comparability across firms between the pre-ASC 606 and the ASC 606 period. The findings indicate an improvement in financial statement comparability at the market level, with a more pronounced effect within industries characterized by high recurring revenues. Furthermore, the study reveals a positive correlation between improved financial statement comparability and increased analyst coverage, implying that enhanced transparency under principles-based accounting standards makes firms more attractive to analysts.
    Keywords: principles-based accounting; rules-based accounting; financial statement comparability; analyst coverage; ASC606.
    DOI: 10.1504/AJFA.2025.10068723
     

 

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