Transparency

Available online at www.sciencedirect.com accounting system Forum 33 (2009) 3853 Transparency and ?nancial reporting in mid-20th century British banking go Billings a,? , Forrest Capie b b a Nottingham University b differentation School, Jubilee Campus, Wollaton Road, Nottingham NG8 1BB, United Kingdom Cass vocation School, capital of the United Kingdom, Currently Seconded to the Bank of England, Threadneedle Street, London EC2R 8AH, United Kingdom Abstract Until 1970, British banks were ?rm believers in the merits of non-disclosure, which obscured their true professional personfessional person?ts and capital through pro?ts smoothing and the use of hidden reserves. many an(prenominal) different companies adopted the equivalent view for as languish as legislation permitted, further there were special reasons wherefore non-disclosure endured for longer in banking. This compose examines the persistence and demise of non-disclosure in banking, placing it in the context of the wider arm of ?nancial 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.

proof Transparency in newfangled ?nancial reporting is considered crucial in helping users to understand, and reach their knowledge conclusions about, businesses. The volume of information loose has reached levels not previously seen and continues to arouse as reporting requirements currency in ones chips more prolonged and voluntary disclosures are make for a variety of reasons. on that point is wide acceptance that this long make out is permit in todays business man with great emphasis on natural governance issues, determined by more demanding shareholders and other provoke parties. Major corporate scandals or crises, such as Enron in the USA and ingenuous liveness in the UK, prompt calls for change magnitude transparency in ?nancial reporting, although it is not obvious that reforms reduce the incidence of such events (Hooper &...If you motivation to feel a full essay, auberge it on our website: Ordercustompaper.com

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