Article
Setting Financial Accounting Standards for the Twenty-first Century
SEC and Financial Reporting Institute-Topical Issues Studies 4
Document Type
Article
Article Version
Publisher's PDF
Publication Date
1-1-1991
Disciplines
Abstract
This paper was prepared for the purpose of facilitating discussion at the Symposium on Financial Reporting and Standard Setting sponsored by the American Institute of Certified Public Accountants. The authors of the paper believe that the changing environment necessitates a thorough reexamination of financial accounting standard-setting processes in the United States. The following observations underlie the propositions offered in the paper:
* The increasing demand for and availability of alternative information is decreasing the demand for traditional financial accounting information.
* The conventional historical-cost-based accounting model is becoming increasingly inadequate for decision-support purposes.
Published Citation
University of Southern California, Financial Accounting Study Group (1991). Setting Financial Accounting Standards for the Twenty-first Century. SEC and Financial Reporting Institute, School of Accounting, University of Southern California.
Reprinted from: Financial reporting and standard setting. New York, N.Y. : American Institute of Certified Public Accountants, c1991.
Peer Reviewed
Citation Information
USC-Financial Accounting Study Group, Doyle Z. Williams, Walter G. Blacconiere, Paul Caster, et al.. "Setting Financial Accounting Standards for the Twenty-first Century" SEC and Financial Reporting Institute-Topical Issues Studies 4 (1991) Available at: http://works.bepress.com/paul_caster/18/
Copyright 1991 American Institute of Certified Public Accounts (AICPA)
This1991 USC-SEC and Financial Reporting Institute-Topical Issues Studies No.4 reprint has been archived with permission from the copyright holder.