Transparency

Available online at www.sciencedirect.com Accounting Forum 33 (2009) 3853 Transparency and ?nancial reporting in mid-20th century British banking delay Billings a,? , Forrest Capie b b a Nottingham University headache School, Jubilee Campus, Wollaton Road, Nottingham NG8 1BB, join Kingdom Cass Business School, London, Currently Seconded to the Bank of England, Threadneedle Street, London EC2R 8AH, joined Kingdom Abstract Until 1970, British banks were ?rm believers in the merits of non-disclosure, which obscured their true professional?ts and capital through pro?ts smoothing and the use of hidden militia. numerous different companies adopted the like view for as extensive as legislation permitted, more thanover there were special reasons wherefore non-disclosure endured for longer in banking. This penning examines the persistence and demise of non-disclosure in banking, placing it in the context of the wider popgrowth of ?nancial reporting in Britain, and hi ghlights similarities and differences in ?nancial reporting between banks and other types of company. © 2008 Elsevier Ltd. All rights reserved. Keywords: Banks; Hidden reserves; Disclosure; Transparency; Stability 1.

demonstration Transparency in modern ?nancial reporting is considered crucial in helping users to understand, and make pass their own conclusions about, businesses. The volume of information open has reached levels not antecedently seen and continues to grow as reporting requirements cash in ones chips more extensive and voluntary disclosures are made for a phase of reasons. There is wide accep tance that this long-term make out is appro! priate in todays business while with greater emphasis on corporeal governance issues, pertinacious by more demanding shareholders and other interested parties. Major corporeal scandals or crises, such as Enron in the USA and innocuous Life in the UK, prompt calls for increased transparency in ?nancial reporting, although it is not obvious that reforms reduce the incidence of such events (Hooper &...If you pauperism to get a full essay, order it on our website: OrderCustomPaper.com

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