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The Accounting Review Vol. 60 No. 3 1985

Aetna, The SEC and Tax Benefits of Loss Carryforwards.

John A. Elliott1; Robert J. Swieringa2

1 Assistant Professor of Accounting, 1 · 2 Professor of Accounting, Cornell University. 2

Abstract

This article discusses several issues underlying a dispute between Aetna and the SEC about accounting for the tax benefits of loss carryforwards. We discuss current accounting requirements for these benefits, Aetna's accounting for its tax benefits, and the reaction of security markets to its dispute with the SEC. We believe that accounting for these tax benefits should be changed to reflect changes in the tax laws, current definitions of assets, and criteria for accounting recognition.

DOI
10.2308/tar-4506828
Volume
60
Issue
3
Pages
531-546
Language
en
Sources
openalex crossref

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