ACCOUNTING AND LAW.
Abstract Accounting principles have long served as nonlegal precedents for statutory legislation and court decisions on financial and business matters. The legally trained accountant is in a peculiarly strategic position to exercise his influence in hastening this evolutionary process. By so doing he performs a distinctive social service, for many of the inequities referred to earlier will disappear as still more fundamental accounting principles are embodied in formal legislation and legal precedent. The problem of the relations existing between the lawyer and the accountant may be most briefly described by the phrase "cooperation versus competition." The literature of both fields contains voluminous exhortation to the effect that neither accountant nor lawyer should go beyond his professional capabilities. The regular law courses required of all business students provide the accounting student with a certain amount of legal training appropriate to his particular needs. This training is supplemented, of course, in some of the accounting courses, where certain types of legal problems must of necessity be considered.
- DOI
- 10.2308/tar-7074228
- Volume
- 10 (2)
- Pages
- 162-167
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref