The Accounting Review Vol. 21 No. 2 1946
RECENT BRITISH ACCOUNTING DEVELOPMENTS.
Abstract
British accountancy as an organized profession is still relatively young when thought of in relation to law and medicine; nevertheless, it has been called upon to shoulder a wide range of important practical duties within a comparatively short space of time. It has been possible to detect a new spirit creeping into tile statement of accounts; the accounting art itself has become discernible as an instrument of truth in the field of economic enquiry. Society has begun to expect published financial accounts to serve all kinds of purposes, and it has asked of them, as a matter of prime importance, such a disclosure of information as will give a clear and orderly picture, which can be readily assimilated and understood, of the working of business enterprise. In England the Institute of Chartered Accountants has formed a Taxation and Financial Relations Committee, which has initiated subjects of accounting principle for the consideration of the Council. In March, 1943, it was recommended that "provision be made in the books and in the annual accounts for proposed profit appropriations, those subject to confirmation by shareholders being so described.
- DOI
- 10.2308/tar-7041810
- Volume
- 21
- Issue
- 2
- Pages
- 199-204
- Language
- en
- Sources
- openalex crossref