institutional reality

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    Institutional reality, financial reporting and the rules of the game

    Description In this paper, I review the major arguments in John Searle’s 1995 book, The Construction of Social Reality, and use them as the basis for exploring the relationship between economic reality and financial accounting numbers. In this book, Searle provides the tools to analyze factual...
  2. J

    Representing the market perspective Fair value measurement for non-financial assets

    Description Fair value measurement (FVM) in IFRS calls for a market-oriented representation of economic ‘reality’, whereby the values attributed to rights (assets) and obligations (liabilities) are in principle determined from the perspective of the ‘market participant’ rather than that of the...
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