The content of accounting standards: Principles versus rules
ME Bradbury, LB Schröder - The British Accounting Review, 2012 - Elsevier
The Global Accounting Alliance has raised a call for different perspectives on principles-
based accounting standards. Based on prior studies this paper identifies a number of
characteristics of principles-based accounting standards. It uses content analysis to
empirically test whether the asserted characteristics are consistent with the IASB and FASB
standards on interest costs. We find that rules-based standards, relative to principles-based
standards, have more rules, more justification, acknowledge less judgement is required …
based accounting standards. Based on prior studies this paper identifies a number of
characteristics of principles-based accounting standards. It uses content analysis to
empirically test whether the asserted characteristics are consistent with the IASB and FASB
standards on interest costs. We find that rules-based standards, relative to principles-based
standards, have more rules, more justification, acknowledge less judgement is required …
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