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- Title
A.R.S. No. 11: Historical Cost Without Perspective.
- Authors
Foster, George J.
- Abstract
This article discusses on the exposition of the traditional accounting system and the issue of historical cost without perspective presented in the Accounting Research Study No. 11 presented by the American Institute of Certified Public Accountants in the U.S. Experts admit that two of the basic conventions of the traditional accounting system (cost and realization) are at variance with commercial experience, and the implicit admissions that two (cost and conservatism) are at variance with each other, and that one (conservatism) is at variance with the matching principle.
- Subjects
UNITED States; AMERICAN Institute of Certified Public Accountants; ACCOUNTING; ACCOUNTING standards; ACCOUNTING policies; COST accounting; BUSINESS education; CONSERVATISM
- Publication
Abacus, 1971, Vol 7, Issue 1, p73
- ISSN
0001-3072
- Publication type
Article
- DOI
10.1111/j.1467-6281.1971.tb00398.x