The Problems of Accounting Standards

6 Pages Posted: 20 Oct 2012

Date Written: October 2012

Abstract

The main purpose of company accounts is stewardship, so accounting standards based on ‘decision‐usefulness for investors’ are misconceived. And making the standards compulsory ‘Instructions’ rather than voluntary ‘Suggestions’ causes many additional problems. All we really need is the Companies Act requirement for accounts to show ‘a true and fair view’.

Keywords: acceptance, accuracy, comparability, expectations, judgement

Suggested Citation

Myddelton, D. R., The Problems of Accounting Standards (October 2012). Economic Affairs, Vol. 32, Issue 3, pp. 44-49, 2012, Available at SSRN: https://ssrn.com/abstract=2163968 or http://dx.doi.org/10.1111/j.1468-0270.2012.02173.x

D. R. Myddelton (Contact Author)

Cranfield University ( email )

Cranfield
Bedfordshire MK43 OAL, MK43 0AL
United Kingdom

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
6
Abstract Views
2,643
PlumX Metrics