Recommendations of the special committee on financial reporting

The recommendations made by the American Institute of CPAs special committee on financial reporting were well received in general by executives, academics and government officials surveyed, but many did see room for improvement in the financial reporting proposals. Some felt that the report failed t...

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Bibliographic Details
Published in:Journal of accountancy 1994-10, Vol.178 (4), p.41
Main Authors: Bowsher, Charles A, Franklin, Barbara Hackman, Cochrane, James L, Burton, John C, Johnson, Kenneth J, Gertie, James L, Sisco, Jean Head, Borelli, Frank, Lincoln, Peter, Lev, Baruch
Format: Magazinearticle
Language:English
Subjects:
Executives
Financial statements
Professional associations
Surveys
Trade and professional associations
Online Access:Get full text
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Summary:The recommendations made by the American Institute of CPAs special committee on financial reporting were well received in general by executives, academics and government officials surveyed, but many did see room for improvement in the financial reporting proposals. Some felt that the report failed to consider implementation and administrative burdens. Others were concerned about the litigation risks of providing forward-looking information. The core and non-core distinction, the use of historical costs, differential disclosure and the emphasis on greater information were also questioned.
ISSN:0021-8448
1945-0729