The firms in Healy's study of earnings management (Section11. 3) would have been using the historical cost
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The firms in Healy's study of earnings management (Section11.
3) would have been using the historical cost basis of accounting. Given that accounting standards have moved to fair value accounting for financial instruments, as described in Section7.
3.2, would this increase or decrease the potential for opportunistic earnings management for bonus purposes?
Explain.
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