Accounting for Initial Franchise Fee Revenue: When a Journal Article in 1970 Constituted GAAP in the Eyes of the SEC
Research in Accounting Regulation, 2012
10 Pages Posted: 23 Dec 2011
Date Written: December 21, 2011
This article reports on an instance in 1969/70 when the leaders of the accounting profession orchestrated the drafting and publication of an article in the Journal of Accountancy, which was understood as having the force of an APB Opinion.
Keywords: Accounting Principles Board, standard setting, franchise accounting
JEL Classification: M41
Suggested Citation: Suggested Citation