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- Title
ACCOUNTING PROBLEMS UNDER THE EXCESS PROFITS TAX.
- Authors
COOPER, WALTER A.
- Abstract
The article offers information on the accounting problems in the excess profits tax in the U.S. It states that accounting principles and practices had to change as business, industrial organizations, tax laws and the U.S. Securities and Exchange Commission (SEC) have changed. It mentions that excess profits tax law focuses on such issues because it involves a heavy tax on net income in excess of certain statutory credits. It presents that a correct determination may require complete evaluation of the date of acquisitions of plant assets, inventories, and determining when were they consumed.
- Subjects
UNITED States; ACCOUNTING; EXCESS profits tax laws; BUSINESS; UNITED States. Securities &; Exchange Commission; CORPORATE profits; MERGERS &; acquisitions; INVENTORIES
- Publication
Law & Contemporary Problems, 1943, Vol 10, Issue 1, p103
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1190027