Due to accounting conventions on treatment of certain costs, the market value of equity is typically higher than the book value of a company, producing a P / B ratio above 1. (investopedia.com)
A number of structural reasons — for example, different accounting conventions — can explain why a particular valuation ratio indicates different relative valuation levels from one market to another. (researchaffiliates.com)
Under IPCC carbon accounting conventions, exported fossil fuels don't «count» against states / territories meeting their carbon reduction targets. (cedamia.org)