Accounting Theory

Harry I. Wolk (1930-2009) held a BS in economics from the Wharton School of the University of Pennsylvania and MBA and PhD degrees from Michigan State University. He was the author or co-author of approximately 25 journal articles, including publications in the Accounting Review, Journal of Accounting Research, Accounting Horizons, and the International Journal of Accounting. He was the lead author of seven editions of Accounting Theory: Conceptual Issues in a Political and Economic Environment. He previously taught at the University of Wisconsin–Milwaukee and was the Aliber Distinguished Professor of Accounting at Drake University, where he taught for 32 years. He also visited Creighton University, where he was John P. Begley Professor of Accounting. He was a member of the American Accounting Association and Financial Executives International, where he served as president of the Iowa Chapter. Outside of accounting, his interests were in following national and world affairs closely, listening to classical music, and following the fortunes of the Boston Red Sox, Boston Celtics, and the New England Patriots.

• SECTION I: PHILOSOPHICAL BACKGROUNDAccounting - A System of Measurement Rules - Devine, CarlRadical Developments in Accounting Thought - Chua, Wai FongAccounting as a Discipline for Study and Practice - Bell, Philip W.Why Can Accounting Not Become a Science Like Physics? - Stamp, EdwardSocial Reality and the Measurement of Its Phenomena - Mattessich, RichardToward a Science of Accounting - Sterling, Robert R.Methodological Problems and Preconditions of a General Theory of Accounting - Mattessich, RichardSECTION II: INFORMALLY DEVELOPED ACCOUNTING CONCEPTSA. Realization and RecognitionThe Critical Event and Recognition of Net Profit - Myers, JohnRecognition Requirements - Income Earned and Realized - Devine, CarlThe Realization Concept - Davidson, SidneyB. MatchingCash Movements and Periodic Income Determination - Storey, ReedSome Impossibilities - Including Allocations - Devine, CarlThe FASB and the Allocation Fallacy - Thomas, ArthurConservatismConservatism in Accounting, Part I: Explanation and Implications - Watts, RossConservatism in Accounting, Part II: Evidence and Research Opportunities - Watts, RossThe Changing Time-Series Properties ofEarnings, Cash Flows, and Accruals: Has Financial Accounting Become Mor Conservative? - Givoly, Dan and Carla HaynD. DisclosureInformation Disclosure Strategy - Lev, BaruchCorporate Reporting and the Accounting Profession: An Interpretive Paradigm - Ogan, Pekin and David Ziebart Financial Reporting in India: Changes in Disclosure over the Period 1982-1990 - Marston, C. L. and P. RobsonCorporate Mandatory Disclosure Practices in Bangladesh - M. AkhtaruddinCorporate Governance and Voluntary Disclosure - L.L. Eng and Y.T. MakOwnership Structure and Voluntary Disclosure in Hong Kong and Singapore - Chau, Gerald and Sidney GrayE. UniformityUniformity Versus Flexibility: A Review of the Rhetoric - Keller, Thomas Differences in Circumstances!: Fact or Fancy - Cadenhead, GaryToward the Harmonization of Accounting Standards: An Analytical Framework - Wolk, Harry and Patrick HeastonSECTION III: CONCEPTUAL FRAMEWORKSFASB′s Statements on Objectives and Elements of Financial Accounting: A Review - Dopuch, Nicholas and Shyam SunderThe FASB′s Conceptual Framework: An Evaluation - Solomons, DavidThe Evolution of the Conceptual Framework for Business Enterprises in the United States - Zeff, StephenCriteria for Choosing an Accounting Model - Solomons, DavidObjectives of Financial Reporting - Walker, R.G.Reliability and Objectivity of Accounting Methods - Ijiri, Yuji and Robert JaedickeSECTION IV: ACCOUNTING FOR CHANGING PRICESReplacement Cost: Member of the Family, Welcome Guest, or Intruder? - Zeff, StephenCosts (Historical versus Current) versus Exit Values - Sterling, Robert R.A Defense for Historical Cost Accounting - Ijiri, YujiThe Case for Financial Capital Maintenance - Carsberg, BryanIncome and Value Determination and Changing Price Levels: An Essay Towards a Theory - Stamp, EdwardSECTION V: ACCOUNTING STANDARDS AND FINANCIAL STATEMENTSGet it off the Balance Sheet! - Dieter, Richard and Arthur WyattPolitical Lobbying on Proposed Standards: A Challenge to the IASB - Zeff, StephenA Review of the Earnings Management Literature and Its Implications for Standard Setting - Healy, Paul and James WahlenRelationships among Income Measurements - Bedford, NortonSome Basic Concepts of Accounting and Their Implications - Lorig, ArthurEconomic Impact of Accounting Standards - Implications for the FASB - Rappaport, AlfredAn Analysis of Factors Affecting the Adoption of International Accounting Standards by Developing Countries - Zeghal, Daniel and Kerim MhedhbiThe Relevance of IFRS to a Developing Country: Evidence from Kazakhstan - Tyrrall, David, David Woodward and A. RakhumbekovaPolitical Influence and Coexistence of a Uniform Accounting System and Accounting Standards: Recent Developments in China - Xiao, Jason, Pauline Weetman and Manli SunSECTION VI: APPLIED ACCOUNTING THEORYA. Income Tax AllocationComprehensive Tax Allocation: Let′s Stop Taking Some Misconceptions for Granted - Milburn, AlexAcccelerated Depreciation and the Allocation of Income Taxes - Davidson, SidneyDiscounting Deferred Tax Liabilities pp. 655-665 - Nurnberg, HugoB. LeasesLease Capitalization and the Transaction Concept - Rappaport, AlfredLeasing and Financial Statements - Shillinglaw, GordonAccounting for Leases - A New Framework - McGregor, WarrenC. Pensions and Other Postretirement LiabilitiesAlternative Accounting Treatments for Pensions - Schipper, Katherine and Roman WeilA Conceptual Framework Analysis of Pension and Other Postretirement Benefit Accounting - Wolk, Harry and Terri VaughanOPEB: Improved Reporting or the Last Straw - Thomas, Paula and Larry FarmerD. ConsolidationsAn Examination of Financial Reporting Alternatives for Associated Enterprises - King, Thomas and Valdean LembkeValuation for Financial Reporting: Intangible Assets, Goodwill, and Impairment Analysis and SFAS 141 and 142 - Mard, Michael, James Hitchner, Steven Hyden and Mark Zyla Proportionate Consolidation and Financial Analysis - Bierman, HaroldThe Evolution of Consolidated Financial Reporting in Australia - Whittred, GregForeign Currency Translation Research: Review and Synthesis - Houston, CarolThe Implementation of SFAS Number 52: Did the Functional Currency Approach Prevail? - Kirsch, Robert and Thomas EvansFinancial Accounting Developments in the European Union: Past Events and Future Prospects - Haller, AxelE. IntangiblesAccounting for Research and Development Costs - Bierman, Harold and Roland DukesThe Boundaries of Financial Accounting and How to Extend Them - Lev, Baruch and Paul ZarowinThe Capitalization, Amortization, and Value Added Relevance of R & D - Lev, Baruch and Theodore SougiannisAccounting for Brands in France and Germany Compared With IAS 38 (Intangible Assets: An Illustration of the Difficulty of International Harmonization) - Stolowy, Herve, Axel Haller and Volker KlockhausAccounting for Intangible Assets in Scandinavia, the U.K., and U.S. and the IASB: Challenges and a Solution - Hoeg-Krohn, Niels and Kjell KnivsflaSECTION VII: POSITIVE ACCOUNTING THEORY The Methodology of Positive Accounting - Christenson, CharlesPositive Accounting Theory: A Ten Year Perspective - Watts, Ross and Jerrold ZimmermanPositive Accounting Theory and the PA Cult - Chambers, RaymondAccounting and Policy Choice and Firm Characteristics in the Asia-Pacific Region: an International Empirical Test of Costly Contracting Theory - Astami, Emita and Greg TowerSECTION VIII: THE TRUE AND FAIR VIEW AND PRINCIPLES VERSUS RULES-BASED STANDARDSPrinciples Versus Rules-Based Accounting Standards: The FASB′s Standard Setting Strategy - Benston, George, Michael Bromwich and Alfred WagenhoferThe True and Fair View in British Accounting - Walton, PeterA European True and Fair View - Alexander, DavidRules, Principles, and Judgments in Accounting Standards - Bennett, Bruce, Helen Prangell and Michael BradburySECTION IX: INTERNATIONAL ACCOUNTING AND CONVERGENCEThe Introduction of International Accounting Standards in Europe: Implications for International Convergence - Schipper, KatherineThe Adoption of International Accounting Standards in the European Union pp. 127-153 - Whittington, GeoffreyTrends in Research on International Accounting Harmonization pp. 272-304 - Baker, C. Richard and Elena BarbouThe Quest for International Accounting Harmonization: A Review of the Standard- Setting Agendas of the IASC, US, UK, Canada and Australia, 1973-1997 - Street, Donna and Kimberly ShaughnessyFrom National to Global Accounting and Reporting Standards - McKee, David, Don Garner and Yosra AbuAmara McKeeA Statistical Model of International Accounting Harmonization pp. 1-29 - Archer, Simon, Pascal, Delvaille and Stuart McLeaySECTION X: OTHER NATIONAL AND REGIONAL ACCOUNTING STUDIESThe Institutional Environment of Financial Reporting Regulation in ASEAN Countries - Saudogaran, Sharokh and J. DigaCorporate Financial Reporting and Regulation in Japan - Benston, George, Michael Bromwich, Robert Litan and Alfred WagenhoferAccounting Theory in the Political Economy of China - Shuie, Fujing and Joseph HilmyOwnership Structure and Earnings Informativeness: Evidence from Korea - Jung, Kooyul and Kwon Soo YoungAccounting Developments in Pakistan - Ashraf, Junaid and WaQar Ghani