Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Investigating Iternational Accounting Standard Setting: The Black Box Of Ifrs 6, Corinne L. Cortese, Helen J. Irvine
Investigating Iternational Accounting Standard Setting: The Black Box Of Ifrs 6, Corinne L. Cortese, Helen J. Irvine
Corinne Cortese
This paper examines the role of powerful entities and coalitions in shaping international accounting standards. Specifically, the focus is on the process by which the International Accounting Standards Board (IASB) developed IFRS 6, Exploration for and Evaluation of Mineral Resources. In its Issues Paper, the IASB recommended that the successful efforts method be mandated for pre-production costs, eliminating the choice previously available between full cost and successful efforts methods. In spite of the endorsement of this view by a majority of the constituents who responded to the Issues Paper, the final outcome changed nothing, with choice being retained. A compelling …