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http://ssrn.com/abstract=689263
 
 

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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

Abstract:     
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, D21

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Date posted: April 15, 2005  

Suggested Citation

Salvary, Stanley C.W., Some Conceptions and Misconceptions on Reality and Assumptions in Financial Accounting. Journal of Applied Business Research, Vol.13, No.1, pp. 69-82, Summer 1996/1997. Available at SSRN: http://ssrn.com/abstract=689263

Contact Information

Stanley C.W. Salvary (Contact Author)
Canisius College - Department of Accounting ( email )
Buffalo, NY 14208
United States
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