Bridging the GAAP: Recent Advances in Finance & Accounting" aims to promote a stronger interface between researchers in accounting & finance that will enhance the understanding of the similarities & differences between these two fields. Such dialog will also acquaint researchers in each area with significant recent advances in the other area & will enable a cross fertilization of thoughts from which both can significantly benefit. This consolidates the efforts to bridge the gap between finance & accounting by looking at diverse topics in accounting & finance & providing interesting points of view on different topics. Most of the chapters concentrate on the topic of fair value accounting & on the question of the extent to which accounting reflects the financial situation of a firm. This book combines new developments in the area of theoretical finance & accounting & the convergence of these two approaches to better serve investors & the general public."