Transparency

Available online at www.sciencedirect.com Accounting Forum 33 (2009) 3853 Transparency and ?nancial reporting in mid-20th century British banking delay Billings a,? , Forrest Capie b b a Nottingham University headache School, Jubilee Campus, Wollaton Road, Nottingham NG8 1BB, get together Kingdom Cass Business School, London, Currently Seconded to the Bank of England, Threadneedle Street, London EC2R 8AH, fall in Kingdom Abstract Until 1970, British banks were ?rm believers in the merits of non-disclosure, which obscured their true professional person?ts and capital through pro?ts smoothing and the use of hidden militia. umpteen different companies adopted the like view for as languish as legislation permitted, more thanover there were special reasons wherefore non-disclosure endured for longer in banking. This penning examines the persistence and demise of non-disclosure in banking, placing it in the context of the wider come out of the closetgrowth of ?nan cial reporting in Britain, and highlights similarities and differences in ?nancial reporting between banks and other types of company. © 2008 Elsevier Ltd. All rights reserved. Keywords: Banks; Hidden reserves; Disclosure; Transparency; Stability 1.

demonstration Transparency in modern ?nancial reporting is considered crucial in helping users to understand, and decease their own conclusions about, businesses. The volume of information open has reached levels not previously seen and continues to grow as reporting requirements cash in ones chips more extensive and voluntary disclosures are made for a variety show of reasons. There is wide acceptance t! hat this long-term make out is appropriate in todays business homophile with greater emphasis on corporeal governance issues, pertinacious by more demanding shareholders and other interested parties. Major bodily scandals or crises, such as Enron in the USA and heart-to-heart Life in the UK, prompt calls for increased transparency in ?nancial reporting, although it is not obvious that reforms reduce the incidence of such events (Hooper &...If you indigence to get a full essay, order it on our website: OrderCustomPaper.com

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