This book explains the content of the Accounting `Standards Board's new Statement of Principles for Financial Reporting' in an accessible language, specifically for the student of accounting and finance.

Drawing upon frameworks employed in the human sciences, Breton builds a multi-faceted theory of accounting, conceiving it as a fundamentally social activity that puts preparers of financial statements in contact with users in order to help them make economic decisions, and analyzing the behavior of perparers and users.

Presents complex materials in a clear and understandable manner. Incorporating the latest accounting standards and presenting the most up-to-date accounting theory from the top academic journals in accounting and finance throughout the world.

Scott reveals vast amounts of financial accounting information drawn from recent research that has until now been hidden in academic journals. He provides a clear, easy-to-use framework for students to (1) place this information in a financial accounting context, (2) explain and analyze the information intuitively and (3) to reveal the informationOs relevance in understanding the practice of accounting.

Financial accounting theory has numerous practical applications and policy implications, for instance, international accounting standard setters are increasingly relying on theoretical accounting concepts in the creation of new standards; and corporate regulators are increasingly turning to various conceptual frameworks of accounting to guide regulation and the interpretation of accounting practices. The global financial crisis has also led to a new found appreciation of the social, economic and political importance of accounting concepts generally and corporate financial reporting in particular. For instance, the fundamentals of capital market theory (i.e. market efficiency) and measurement theory (i.e. fair value) have received widespread public and regulatory attention. This comprehensive, authoritative volume provides a prestige reference work which offers students, academics, regulators and practitioners a valuable resource containing the current scholarship and practice in the established field of financial accounting theory.

Providing a clear and concise overview of the conduct of applied research studies in accounting, Malcolm Smith presents the principal building blocks of how to implement research in accounting and related fields.

American accounting theory -- British accounting and Marx's theory of capitalism -- Irving Fisher's theory of accounting -- Accounting theory and the profession -- Charles Ezra Sprague -- Henry Rand Hatfield -- William Andrew Paton Jr. -- John Bennet Canning -- The "big mess."