However evidence from 19932002 according to daske

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according to Liebfried (2002). However, evidence from 1993–2002, according to Daske (2006), failed to document the lower expected cost of equity capital for firms applying IAS/IFRS. 1 The adoption of IFRS in Finland has been summarised by Deloitte (2008)
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Working Papers of the Finnish Forest Research Institute 93 8 Argilés and Slof (2001) compared the FADN of the EU and IAS 41, concluding that the contribution of IAS 41 is mainly conceptual and requires additional tools for implementation in practice, like some form of accounting plan. The accounting plan has been developed here, as well as product development and solutions implemented for the whole forestry sector. 1.3 Accounting theories and research traditions Burrel and Morgan (1979, p. 1) postulate that ‘all theories of organisation are based upon a philosophy of science and a theory of society’. They analyse both the two major dimensions – science and society – and summarise the relation between them in four paradigms: radical humanist, radical structuralist, interpretative, and functionalist. This initiative has inspired modification of these paradigms and resulted in a commonly used classification of accounting research identifying four basic methodological approaches: conceptual, decision-oriented, nomothetic and action- oriented (Kasanen et al. 1993, Penttinen 2007): The notion of the conceptual approach is to describe, create and improve existing concepts and conceptual systems, or to construct completely new concepts. This approach prefers to describe the reality than to understand it. The results typically state and recommend, and are validated by reasoning and argument. Developing accounting recommendations and solutions here applies conceptual reasoning. The decision-oriented approach aims at constructing models for decision- making and problem-solving, and is favoured in operational research and management science. The nomothetic approach is based on the positivistic and natural-scientific tradition, and often uses extensive empirical data and statistical analysis. The action-oriented approach aims to create better, often subjective understanding of the reality which is, in practice, always tied to the observer in the spirit of hermeneutic philosophy. Kasanen et al. (1993) have added the constructive approach , which combines theoretical background knowledge with relevant practical problems and produces practical functioning accounting solutions, to these four . Financial accounting developments here are based primarily on the conceptual and constructive approaches in developing accounting solutions for forestry. Accountancy can be divided according to the Statement of Accounting Theory... (1977) into three approaches: (i) The classic theory attempts to create implicit accounting frameworks or to rationalise existing practices. (ii) Decision-making and its benefits emphasises investigating decision-making models and decision-makers. (iii) Information economics considers what information is needed in economic decision-making. Moreover, according to the
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  • Spring '17
  • Jane Smith
  • Balance Sheet, The Land, ........., International Financial Reporting Standards, Finnish Forest Research Institute

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