@article{THESIS,
      recid = {14458},
      author = {Khrakovsky, Maria},
      title = {Disrupting Consistency in Accounting},
      publisher = {University of Chicago},
      school = {Ph.D.},
      address = {2025-03},
      number = {THESIS},
      abstract = {I show that the issuance of a new accounting standard  disrupts the cycle of consistency within accounting  organizations, leading to improved accounting information.  For the recent FASB Revenue Recognition and Leases  standards, I show they lead to more error disclosures and  more updates to legacy policies within the standards’ topic  areas before the accounting standard change is implemented.  I do not find a difference in the effects between firms  more or less affected by a standard, consistent with the  standards being broadly disruptive for all firms. However,  I do find stronger effects for more decentralized firms  following the Leases standard, implying a mechanism of the  disruption: a centralized standard implementation effort  that unifies historically dispersed accounting practices. I  further demonstrate that the policy updates identified  following the disruption result in improvements to  accounting information. My results show that accounting  standard-setting activity affects financial reporting  processes and outcomes even prior to the adoption of the  standard in a way that is distinct from the effects of the  actual changes in accounting guidance.},
      url = {http://knowledge.uchicago.edu/record/14458},
      doi = {https://doi.org/10.6082/uchicago.14458},
}