The adequacy of fixed asset disclosures under U.S. GAAP |
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Authors: | Mark P. Bauman |
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Affiliation: | College of Business Administration, University of Northern Iowa, 347 Curris Business Building, Cedar Falls, IA 50614-0127, United States |
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Abstract: | Prior to 1995, the U.S. Securities and Exchange Commission (SEC) required publicly-traded, capital-intensive registrants to prepare detailed supplemental schedules summarizing the activity in fixed asset-related accounts. This study examines these previously-mandated schedules and illustrates how current aggregated reporting requirements potentially conceal insights that could be gained with finer information. This is a significant issue, as current disclosures under International Financial Reporting Standards (IFRS) are similar to the former SEC requirements. The analysis supports the conclusion that stakeholders in capital-intensive U.S. firms are at an informational disadvantage relative to stakeholders in similar firms reporting under IFRS. |
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Keywords: | Disclosure Fixed assets Financial analysis |
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