ACCOUNTING AND THE PRICE LEVEL.
The article focuses on accounting and price level. During the last decade accountants have become increasingly aware of the effects produced on accounting statements by the substantial change that has occurred in price levels. It is reasonable to expect that they should also show some interest in proposals aimed at adoption of a policy of stabilization of the price level, even though implementation of such a policy would call for action primarily in the somewhat alien field of monetary and fiscal affairs. Advocates of this policy maintain that the objective of Federal spending, taxing, borrowing, lending, and monetary operations should normally be maintenance of the purchasing power of the dollar in real goods. One of the fundamental arguments used to support such a program is the effect its announced adoption and actual carrying out would have upon businessmen's expectations and particularly upon their ability to plan future operations without the ever-threatening prospect of being overwhelmed in a sea of deflation or of being buffeted by the storms of violent inflation of their prices and costs.
- DOI
- 10.2308/tar-7057676
- Volume
- 29 (4)
- Pages
- 639-642
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref