Abstract

Recently, ¹ Baruch Lev outlined how accounting research has produced research findings that are relevant to society in the areas of regulations (e.g. related to the consequences of Sarbanes Oxley), investors (with respect to determining managerial quality) and managers (regarding the advantages of providing earnings guidance). He also noted that there has been a remarkable lack of progress in research, or even serious efforts, to improve the accounting model, its framework or its practices.