Financial Reporting for Financial Instruments, Foundations and Trends~® in Accounting

摘要

The objectives of this monograph in the "Foundations and Trends in Accounting" series are to explain conceptual and practical issues regarding financial reporting for financial instruments, to summarize existing empirical research in these areas, and to suggest opportunities for future research. Overall, these objectives are met in a relatively clear and readable manner. However, this is not a book that can be lightly read, and, despite obvious attempts by the author to present the literature in a way that will be accessible to novice researchers, segments of the book must still be described as dense and punctilious. This observation is not intended as a criticism. Dense writing is the consequence of the author's masterful synthesis and integration, in less than 160 pages, of institutional details, financial theory, and empirical research related to one of the more complicated areas in accounting. This book provides a significant service by summarizing a large body of academic research in a manner that shows that it has important implications for standard setting, regulation, research, and financial statement analysis.