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In The Search For Accounting Knowledge - Everything Old Is New Again, A. Kurtovic, K. Cooper
In The Search For Accounting Knowledge - Everything Old Is New Again, A. Kurtovic, K. Cooper
Faculty of Business - Accounting & Finance Working Papers
The following paper will attempt to substantiate claims that the accounting profession, has in over a hundred years, failed to adequately develop. Claims that the accounting profession has done little more than recycle financial accounting issues are not new, with such allegations having vocally surfaced in the past two decades. In order to achieve its aim, this paper will focus on Statement of Accounting Concepts number two [SAC 2], The Objective of General Purpose Financial Reporting. In gaining an understanding of today' s position of SAC 2 and how it has been arrived at, legislation dating over a hundred years …