A statement of basic accounting theory
American Accounting Association, 1966 - Business & Economics - 100 pages
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accepted accounting principles accounting function accounting information accounting information system accounting practice accounting system actions activities adjusted alternatives American Accounting Association applied areas assets basic accounting theory basis Chapter committee concepts considered current cost current terms December 31 decision models deferred taxes degree of verifiability depreciation earnings effect entity environmental equipment Equity evaluation external reporting external users Federal income taxes financial position firm freedom from bias gain goals historical cost historical-cost important information system informational needs internal accounting internal management interval estimate inventory involved management accounting management's managerial market transactions marketable securities measurement theory meet the standards ment nature needs of management Note objectives organization percent planning process possible prediction prepared present price-level change problem purposes quantifiability recognized recommendations replacement cost Retained Earnings scope specific standard of verifiability standards for accounting statement of basic stockholders techniques tion users of accounting valuation