Accounting standards are an essential element in the regulation of current financial reporting. Standard setters promulgate standards, and companies and professional accountants follow them, in preparing financial reports. Although much has been written about the history of standard setting, the con[...]

In the summer of 1914, as Europe teetered on the brink of war, the spectre of immediate Zeppelin raids on London and other major British towns and cities loomed large. When Winston Churchill accepted responsibility for the defence of London, he realised that Zeppelins were most vulnerable when on th[...]