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An Economics Perspective on Financial Reporting Objectives

Lookup NU author(s): Professor David McCollum-Oldroyd



This is the authors' accepted manuscript of an article that has been published in its final definitive form by Wiley, 2018.

For re-use rights please refer to the publisher's terms and conditions.


The paper examines the decision of IASB and FASB to subsume stewardship within the sole financial reporting objective of informing investment decisions rather than seeing it as separate and distinct. This view is shown to be flawed from a theoretical economics perspective given the differences in the underlying properties of accounting information. In answer to the question of what difference the boards’ policy would make, the paper outlines consequences in relation to accounting standard-setting and contracting with managers.

Publication metadata

Author(s): Miller AD, Oldroyd D

Publication type: Article

Publication status: Published

Journal: Australian Accounting Review

Year: 2018

Volume: 28

Issue: 1

Pages: 104-108

Print publication date: 01/03/2018

Online publication date: 09/08/2017

Acceptance date: 04/05/2017

Date deposited: 08/05/2017

ISSN (electronic): 1835-2561

Publisher: Wiley


DOI: 10.1111/auar.12192


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