We analyze a sample of UK public companies that invoked a True and Fair View (TFV) override

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‘We analyze a sample of UK public companies that invoked a True and Fair View (TFV) override during 1998–2000 to assess whether overrides are used opportunistically. We find overrides increase income and equity significantly, and firms with weaker performance and higher levels of debt employ overrides that are more costly . . . financial statements are not less informative than control sample.’

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Financial Accounting And Reporting

ISBN: 9781292255996

19th Edition

Authors: Barry Elliott, Jamie Elliott

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