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Research examines the impact of discretion in reporting expenses on agency problems, suggesting limits on flexibility.
Reexamines the `uniformity versus flexibility' debate by considering the consequences of varying the amount of discretion managers have in reporting current period expenses. Effects of generally accepted accounting principles (GAAP) on the `internal agency problem' and the `external agency problem'; Exhibition of the undesirability of expanding discretion.
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Dye et al. (1995) studied this question.
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