ACCOUNTING STANDARDS AND FINANCIAL DISCLOSURE REGULATION

ABSTRACT. Das argues for reforms in India's public accounting practice: in re- cent years there has been a growing demand that the government should be fully accountable for the resources entrusted to its care. Ding et al. assert that although accounting standards are important determinants of financial reporting quality, they differ across countries. Salvary claims that to some accountants a capital-market-oriented value, not a transaction-based value, is the appropriate approach to measure a firm's assets and liabilities in financial accounting.