Inconsistency in U.S. Accounting Standards: The Treatment of Interest
1989
Consistency is an essential part of financial reporting: it applies both to the continuous use of the same accounting principles by an entity from period to period, and to consistency between various accounting principles used by the same entity. In the development of accounting standards, risks to users of inconsistencies can be reduced by good disclosure requirements, particularly so between various pronouncements. A study examining the treatment of interest found inconsistencies in two-thirds of the relevant U.S. GAAP pronouncements.
Keywords:
- Economics
- Positive accounting
- Constraints accounting
- Accounting standard
- Accounting
- Actuarial science
- Generally Accepted Accounting Principles (United States)
- Accounting information system
- Comparison of management accounting and financial accounting
- Financial accounting
- Mark-to-market accounting
- Management accounting
- Correction
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