Triocracy and the Dynamics of Standard Setting: A Comparative Study of FASB's Deliberation Process on SFAS No. 133 and SFAS No. 141/142

David Hossain*, J. Gregory Kunkel**, Edward Lance Monsour***
*-*** College of Business and Economics, California State University, Los Angeles, California.
Periodicity:March - May'2009
DOI : https://doi.org/10.26634/jmgt.3.4.198

Abstract

In this paper, we compare the standard setting process and outcomes for two important areas of accounting disclosure, business combinations and derivatives. We examine the process using the triocracy theory of government regulation. We find the outcome of the standard setting process to be much different in accounting for business combinations than it was in accounting for derivatives. This is because the array of special interest groups opposing the rules for business combinations was much broader and stronger than those groups that opposed the proposed standards for derivatives.

Keywords

Accounting Standards; Financial Reporting; Regulations; Triocracy

How to Cite this Article?

David Hossain, J. Gregory Kunkel and Edward Lance Monsour (2009). Triocracy and The Dynamics of Standard Setting: A Comparative Study of FASB'S Deliberation Process On SFAS No. 133 And SFAS No. 141/142. i-manager’s Journal on Management, 3(4), 11-22. https://doi.org/10.26634/jmgt.3.4.198

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