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Semiotics, Hermeneutics and Cash: An Essay on the True and Fair View

Lawrence A. Cunningham
George Washington University Law School

Abstract:
Cash is king. As countries struggle to develop accounting standards that translate across borders, the cash flow statement is a promising place to look. This essay reviews global accounting practices in several countries, showing how angst expressed in concepts such as semiotics and hermeneutics are both fascinating and unnecessary. In doing so, it considers continuing weaknesses in the US regulatory model, including in the Sarbanes-Oxley Act, and shows ways that markets have been ahead of regulators in developing convergence in financial reporting.

Keywords: cash flow statement, true and fair view, fairly presents, Sarbanes-Oxley, global accounting, comparative accounting

JEL Classifications: M41, M47, G34

Accepted Paper Series

Date posted: March 07, 2003 ; Last revised: April 16, 2005

Suggested Citation

Cunningham, Lawrence A., Semiotics, Hermeneutics and Cash: An Essay on the True and Fair View. Boston College Law School Research Paper No. 06. Available at SSRN: http://ssrn.com/abstract=386041 or doi:10.2139/ssrn.386041

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Contact Information

Lawrence A. Cunningham (Contact Author)

George Washington University Law School ( email )

2000 H Street, N.W.
Washington, DC 20052
United States
202-994-0732 (Phone)