Some Conceptions and Misconceptions on Reality and Assumptions in Financial Accounting
Stanley C.W. Salvary
Canisius College - Department of Accounting
Journal of Applied Business Research, Vol.13, No.1, pp. 69-82, Summer 1996/1997
This paper addresses two problematic issues arising from the importation of terms into financial accounting: (1) the nature of economic reality; and (2) the role of assumptions. These two issues have stirred a lot of controversy relating to financial accounting measurements and affect attestation reports. This paper attempts to provide conceptual clarity on these two issues.
Number of Pages in PDF File: 22
Keywords: Economic reality, audit opinion, Savings and Loan Associations, aggregative analysis, planning data, simplifying assumptions, going concern, liquidating concern, realization
JEL Classification: M41, D21Accepted Paper Series
Date posted: April 15, 2005
© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo4 in 0.344 seconds