Future Of The Accounting Profession
Public accountants are being attacked from all sides. Stock and bond holders, the United States Congress, the Securities and Exchange Commission, clients, and even members of the profession itself, all accuse accountants of failing in their watchdog duties as auditors and of approving financial statements that follow questionable accounting rules. Academic as well as other critics fault the profession for failing to innovate, particularly in respect to accounting for the effects of inflation....
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History and analysis of contemporary issues in accounting and auditing, outlining of the problems facing the profession and proposals for their solution.
IllustrationsPrefaceList of AcronymsCh. 1Trouble in the Accounting Profession1Ch. 2A Short History of Accounting13Ch. 3The Development of Accounting Thought31Ch. 4Generally Accepted Accounting Principles47Ch. 5The Auditing Problem63Ch. 6International Accounting and Auditing77Ch. 7A Conceptual Framework for Financial Reporting93Ch. 8Regulation of Financial Reporting - The Disclosure Issue111Ch. 9Financial Reporting and Changing Prices125Ch. 10Current Cost Accounting147Ch. 11The Financial Statements161Ch. 12Improving the Financial Statements179Ch. 13The Future of Auditing191Ch. 14The Future of Financial Reporting203Selected Bibliography215Index219
