Accounting theory

Autore: Wolk H.  Casa Editrice: SAGE Publications  Anno Edizione: 2010 Edizione: 1 ISBN: 9781847876096 Pagine: 1584 Costo: 743,90 Euro (*) Materia: Contabilità e Bilancio Finanza e Tributi Lingua: Inglese

Financial statements, the output of a firm’s accounting system, receive a great deal of attention, for two reasons. First, they assess how well management is doing now and second, they help predict the firm’s prospects. However, accounting systems and financial statements do not arise in a vacuum. They are based on rules and standards that have been developed at the various national and, increasingly, international levels. In turn, these rules and standards are based, to a greater or lesser extent, on accounting theory. In this major reference collection, accounting theory is taken as the basic assumptions, definitions, principles, and concepts – and how we derive them – that underlie accounting rule-making by a legislative body as well as the reporting of financial information. This major work starts with a philosophical overview of accounting, including accounting theory. Among some of the other issues examined are whether accounting is an art or a science and whether or not it can be value free. Also examined is the question of whether any "preconditions" are necessary to establish a viable approach to accounting theory. As a reference work, Accounting Theory, compiled by industry expert Harry I. Wolk, will be a key resource for accounting students, financial statement preparers, and auditors, as well as standard setters themselves.