The Accounting Review Vol. 21 No. 4 1946
WHY ONLY EMERGENCY FACILITIES?
Abstract
Since the termination of the emergency period as of September 30, 1945, there has been a series of debates going on in public and private circles as to the propriety of, and mechanism for, restoring to corporate records any value that may be remaining for facilities which have been fully amortized for tax purposes, and which still have remaining usefulness. It seems to the writer that most of the arguments that have been published in connection with this October 1946 issue of the journal The Accounting Review, have been in regard to the accounting mechanism for recording in corporate books of account such adjustments as may be necessary to reflect the remaining usefulness of fully amortized emergency facilities. Many of the debaters have seemed to confine their concept of this problem to a rigid verbatim application of stated accounting practices. Others express opinions that any warranted adjustment should be against earned surplus, unqualifiedly, whereas some urge in an equally convincing manner that such adjustments should be specially earmarked in some different manner.
- DOI
- 10.2308/tar-7053146
- Volume
- 21
- Issue
- 4
- Pages
- 390-396
- Language
- en
- Sources
- openalex crossref