Needed: an accounting constitution
Article Abstract:
The framework of the Financial Accounting Standards Board has too many conceptual shortcomings to effectively guide the standards-setting process. An authoritative accounting 'constitution' and 'bill of rights' are needed. The constitution would define what is and what is not an asset, a liability, an equity, a revenue, a loss, an expense, and a net earning. The 'bill of rights' would ensure that all accounting items would be reported in a consistent manner. For example, no entity would have to report an asset as anything other than an asset, and no liability would have to be reported as anything other than a liability. The composition of balance sheets and the characteristics of assets, liabilities, and earnings under this proposed constitution are discussed.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1987
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Accounting for computer software: the FASB approach
Article Abstract:
Computer software development may be affected by the proposed accounting regulation - Accounting for Costs of Computer Software to be Sold, Leased, or Otherwise Marketed - according to the Financial Accounting Standards Board. Costs that are absorbed from the process of creating a software product can be capitalized or costs that may be accrued to expense are delineated in the Exposure Draft. Auditors for the software industry maintain there is no definitive guidance for the accounting of computer software expenses for the marketing of computer software and that present literature has been void on the matter.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1985
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MAP sponsors second roundtable
Article Abstract:
Accountants from Fairfield County in Connecticut and from Westchester County in New York reviewed existing accounting regulations and other topics at the NAA Westchester-Fairfield Accounting Roundtable. The Management Accounting Practices (MAP) Committee favors the computer program plan set by the Financial Accounting Standards Board. The expenses of generating product masters absorbed after the formation of recoverability must be capitalized. However, this policy would not apply to research and development expenses.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1985
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- Abstracts: The economic consequences of accounting for stock splits and large stock dividends. A rejoinder to 'Measuring Production Efficiency in a Not-for-Profit Setting: An Extension.' (response to article by Yaw M. Mensah and Shu-Hsing Li in this issue, p. 66)
- Abstracts: Impact of waiting attribution and consumer's mood on perceived quality. What makes open vs. closed conclusion advertisements more persuasive? The moderating role of prior knowledge and involvement
- Abstracts: Manpower matters: welfare and working conditions. Manpower matters: women's career developments
- Abstracts: Medicare catastrophic coverage. When personal injury damage awards are taxable. Tax benefits relating to corporate distributions substantially limited