The Accounting Review Vol. 38 No. 1 1963
ALTERNATIVE ACCOUNTING PROCEDURES AND THE ENTITY CONCEPT.
Abstract
Under the entity concept, financial statements are considered to be means through which a corporation's point of view is made known. As a corporation moves from one stage of development to another, changes in accounting procedures are needed so as to depict properly its changes in outlook and strategy for survival. So long as disclosures are made, and if coupled with education and/or public accountants' evaluations, it is contended that the use of alternative accounting procedures will not only make financial statement presentation more revealing and meaningful, but also permit corporations at different stages of development to compete for financial competence. The use of alternative accounting procedures is thus consistent with a corporation's objective of survival.
- DOI
- 10.2308/tar-7101056
- Volume
- 38
- Issue
- 1
- Pages
- 52-55
- Language
- en
- Sources
- openalex crossref