Critical Review of Article on Financial Statements Essay example -- Ac

A Critical Review of Georgiou, G. (2010) â€Å"The IASB standard-setting process: Participation and perceptions of financial statement users†, British Accounting Review, 42 (2), pp.103-118. Dr George Georgiou is a senior lecturer in Accountancy and the director of the MSc International Accounting & Finance course at the Birmingham Business School, University of Birmingham. He has the following qualifications: BA, MAcc, PhD & CPA. Georgiou is also a PhD supervisor in his research interest topics which lie in accounting regulation, accounting theory, government accounting and market-based accounting. (University of Birmingham, 2010). As stated by Bruce (2010), financial statement users are often described as the primary users of financial statements. Yet, few financial statement users have the time or the preference to get involved in the IASB standard setting process. Georgiou's article sets out to show the gap in the literature of the involvement of financial statement users and the amount of control they have in the accounting standard-setting process. The author states that it is important to financial statement users to believe that their perception and participation is vital in the standard setting process. Introduction Georgiou puts forward an argument for financial statement users in that their involvement is material and frequently accounting standard-setters give an explanation for the approval of their standards by appealing to the interest of financial statement users. The author verifies the importance of the problem area by referencing Young (2003), who also puts their argument across in support of financial statement users. Young (2003) expresses that financial statement users are used in a nutshell to prov... ...or outreach. Available: http://www.ifrs.org/News/Features/Spotlight+on+investor+outreach.htm. Last accessed 9 November 2010. Duff, A, Ferguson, J & Gilmore, K. (2007). Issues concerning the employment and employability of disabled people in UK accounting firms: An analysis of the views of human resources managers as employment gatekeepers. The British Accounting Review, 39(1), 15-38. Sutton, T. G. (1984). Lobbying of accounting standard-setting bodies in the U.K. and the U.S.A: a downsian analysis. Accounting, Organizations and Society, 9(1), 81–95. University of Birmingham. (2010). Profile: Dr George Georgiou. Available: http://www.business.bham.ac.uk/staff/georgioug.shtml. Last accessed 5 Dec 2010. Young, J. J. (2003). Constructing, persuading and silencing: the rhetoric of accounting standards. Accounting, Organizations and Society, 28(6), 621–638.