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Lookup NU author(s): Anthony Miller, Professor David McCollum-Oldroyd
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The paper analyzes the decision of FASB and IASB not to treat the motivational and control aspectsof stewardship as a separate and distinct reporting objective to that of facilitating investment decisions. It does so firstly by considering the demand for information to control agents; and secondly by assessing the capacity of decision-useful information to replicate stewardship effects. The paper finds an essence to accounting based on the legal protection of property rights, encompassing stewardship, which has remained constant since earliest times. The decision taken by the boards on stewardship also appears disconnected from changes in the capital markets as well as the writings on reporting objectives that preceded it.
Author(s): Miller AD, Oldroyd D
Publication type: Article
Publication status: Published
Journal: Accounting Historians Journal
Year: 2018
Volume: 45
Issue: 1
Pages: 69-82
Online publication date: 01/06/2018
Acceptance date: 01/02/2018
Date deposited: 13/03/2018
ISSN (print): 0148-4184
ISSN (electronic): 2327-4468
Publisher: Academy of Accounting Historians
URL: https://doi.org/10.2308/aahj-10585
DOI: 10.2308/aahj-10585
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