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, linked Kingdom Cass Business School, London, Currently Seconded to the Bank of England, Threadneedle Street, London EC2R 8AH, join Kingdom Abstract Until 1970, British banks were ?rm believers in the merits of non-disclosure, which obscured their true professional?ts and capital through pro?ts smoothing and the use of hidden reserves. umteen different companies adopted the like view for as coherent as legislation permitted, muchover there were special reasons why 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 step forwardgrowth of ?nancial reporting in Britain, and highlig hts 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 surpass 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 alteration of reasons. There is wide acceptan ce that this long-term make out is appropri! ate in todays business soldiery with greater emphasis on corporeal governance issues, find out by more demanding shareholders and other interested parties. Major corporeal scandals or crises, such as Enron in the USA and ingenuous 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 penury to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper