Setting Financial Accounting Standards for the Twenty-first Century

Doyle Z. Williams; Walter G. Blacconiere; Paul Caster; Charles Chi; Mark DeFond; Dan Elnathan; William W. Holder; E. John Larsen; Daniel E. O'Leary; S.E.C. Purvis; William R. Smith

Setting Financial Accounting Standards for the Twenty-first Century

Doyle Z. Williams, Walter G. Blacconiere, Paul Caster, Charles Chi, Mark DeFond, Dan Elnathan, William W. Holder, E. John Larsen, Daniel E. O'Leary, S.E.C. Purvis, William R. Smith

Fairfield University

Research output: Contribution to journal › Article › peer-review

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.

Original language	American English
Journal	SEC and Financial Reporting Institute-Topical Issues Studies 4
State	Published - Jan 1 1991

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Business

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Setting Financial Accounting Standards for the Twenty-first CentuFinal published version, 2.1 MBLicense: CC BY

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title = "Setting Financial Accounting Standards for the Twenty-first Century",

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.",

author = "Williams, \{Doyle Z.\} and Blacconiere, \{Walter G.\} and Paul Caster and Charles Chi and Mark DeFond and Dan Elnathan and Holder, \{William W.\} and Larsen, \{E. John\} and O'Leary, \{Daniel E.\} and S.E.C. Purvis and Smith, \{William R.\}",

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T1 - Setting Financial Accounting Standards for the Twenty-first Century

AU - Williams, Doyle Z.

AU - Blacconiere, Walter G.

AU - Caster, Paul

AU - Chi, Charles

AU - DeFond, Mark

AU - Elnathan, Dan

AU - Holder, William W.

AU - Larsen, E. John

AU - O'Leary, Daniel E.

AU - Purvis, S.E.C.

AU - Smith, William R.

PY - 1991/1/1

Y1 - 1991/1/1

N2 - 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.

AB - 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.

UR - https://digitalcommons.fairfield.edu/business-facultypubs/132

M3 - Article

JO - SEC and Financial Reporting Institute-Topical Issues Studies 4

JF - SEC and Financial Reporting Institute-Topical Issues Studies 4

ER -

Setting Financial Accounting Standards for the Twenty-first Century

Abstract

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