Belkaoui-AccountingTheory-2009

Licensed Licensed to: iChapters iChapters User User

Ahmed Riahi-Belkaoui

Fifth Fif th Ed Edit itio ion n

University of Illinois at Chicago Illinois, USA

ACCOUNTING ACCOUNTING THEORY THEORY

Australia Australia • Canada • Mexico • Singapore Singapore • Spain • United Kingdom Kingdom • United States

Titles you can't find anywhere else

Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.














ACCOUNTING THEORY
















To Dimitra
















Ahmed Riahi-Belkaoui

Fifth Fif th Ed Edit itio ion n

University of Illinois at Chicago Illinois, USA

ACCOUNTING ACCOUNTING THEORY THEORY
















Accounting Theory: Fifth Edition

The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission of the publisher. While the publisher has taken all reasonable care in the preparation of this book the publisher makes makes no representation, express express or implied, with regard to the accuracy of the information contained in this book and cannot accept any legal responsibility or liability for any errors or omissions from the book or the consequences thereof. Products and services that are referred to in this book may be either trademarks and/or registered trademarks of their respective owners. The publisher and author/s make no claim to these trademarks. British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library ISBN 1-84480-029-6

Typeset by Saxon Graphics Ltd, Derby Printed in Great Britain Britain by TJ International, Padstow Padstow,, Cornwall Cornwall
















Contents

Preface

1

The history and development of accounting 1.1 1 .2 1 .3 1 .4 1 .5 1 .6 1.7

2

3

ix

1

In Introduction Evolution of double-entry bookkeeping The development of accounting principles in the USA Accounting and capitalism Relevance of accounting history International accounting issues Co Conclusions

1 2 6 12 13 14 19

Appendix 1.A: Major studies of the accounting profession from 1972 through 1995

19

Notes

31

References

34

The nature and uses of accounting

37

2 .1 2 .2 2.3 2.3 2.4 2.4 2.5 2.5 2 .6 2 .7 2 .8 2 .9 2.10

38 42 45 46 53 54 65 67 68 71

Definitions and role of accounting Measurement in accounting The The ratio rationa nale le behin behind d doub double le-e -entr ntry y acco accoun untin ting g Gene Genera rally lly acce accept pted ed acco accoun untin ting g prin princi ciple pless (GAA (GAAP) P) Acc Account ountin ing g poli policcy and and chang hangees Designed accounting Technical and ideological proletarianization of accountants The manufactured consciousness of users Ethical perspective in accounting Conclusions

Notes

71

References

76

The elements and structure of an accounting theory

79

















Licensed Licensed to: iChapters iChapters User User vi S T N E T N O C

4

The traditional approaches to the formulation of an accounting theory 4.1 4.1 4.2 4.2 4.3 4.3 4.4 4.4 4 .5 4 .6 4 .7

5

98 107 107 108 108 109 109 110 116 116

Notes

116

References

120

The regulatory approach to the formulation of an accounting theory

123

5 .1 5 .2 5 .3 5 .4 5 .5 5 .6 5 .7 5 .8 5 .9

6

The The natu nature re of acco accoun unti ting ng:: vario arious us imag images es Theo Theory ry cons constr truc ucti tion on and and veri verifficat icatio ion n The The natu nature re of an acco accoun unti ting ng theo theory ry Metho Methodo dolo logie giess for for the the form formula ulatio tion n of an acco accoun untin ting g theor theory y Approaches to the formulation of an accounting theory The eclectic approach to the formulation of an accounting theory Conclusions

97

The nature of accounting standards Goals of standard-setting Entities concerned with accounting standards Who should set accounting standards? Legitimacy of the standard-setting process Accounting standards overload Accounting choice Standard-setting strategies for the developing countries Conclusions

124 125 127 135 144 146 149 150 153

Appe ppendix 5. 5.A: Me Members of of In Inter ternatio tional Accounting ing St Standards Bo Board

153

Notes

155

References

158

A concept conceptual ual framework framework for finan financial cial accountin accounting g an and d reporti reporting ng

163

6.1 6.1 6.2 6.3 6.3 6 .4 6 .5

164 164 165 173 173 190 197

Class Classif ific icat ation ion and and conf conflic licts ts of inte intere rests sts Toward oward a formul formulati ation on of the object objectiv ives es of financ financial ial statem statement entss Toward ward a conc concep eptu tual al fram frameework work The other reports Taxonomy of normative characteristics that accounting pronouncements should reflect

















Licensed Licensed to: iChapters iChapters User User vii

8

Notes

241

References

245

Fairness, disclosure and future trends in accounting

249

8 .1 8 .2 8.3 8.3 8 .4 8 .5

9

24 2 49 250 253 253 261 285

Notes

285

References

291

Research perspectives in accounting

299

9 .1 9 .2 9 .3

299 300 304

9 .4 9 .5 9 .6 9 .7

10

Introduction Fairness in accounti nting Fairn airnes esss in dis distrib tribut utio ion n Fairness in disc isclosure Conclusion

Introduction Perspectives on accounting researchers Perspectives on accounting methodologies: ideography versus nomothesis Perspectives on accounting knowledge Perspectives on accounting research Intellectual foundations in accounting Conclusions

308 314 319 322

Notes

322

References

326

Accounting: a multiple paradigm science

329

10.1 10.2 10.3 10.4 10.5 10.5 10.6 10.6 10.7

Introduction The concept of a paradigm The anthropological/inductive paradigm The true-income/deductive paradigm The decisi decisionon-use usefuln fulness ess/de /decis cision ion-mo -model del paradi paradigm gm The The deci decisi sion on-u -use sefu fuln lnes ess/ s/de deci cisi sion on-m -mak aker er/a /agg ggre rega gate te-m -mar arke kett-be beha havi vior or paradigm The decision-us decision-usefulne efulness/de ss/decision cision-mak -maker/indi er/individual vidual-user -user paradigm paradigm

330 331 337 339 341 343 343 345

C O N T E N T S

















Licensed Licensed to: iChapters iChapters User User viii S T N E T N O C

12

The predictive approach 12.1 12.1 12.2 12.3 12.3 12.4

13

15

398 398 398 408 408 433

Notes

433

References

439

The positive approach, income smoothing and earnings management

44 1

13.1 13.2 13.3 13.4 13.5

14

The The natur naturee of the the pred predic icti tive ve appr approa oach ch Prediction of an economic event Pred Predic icti tion on of mark market et reac reacti tion on:: mark market et-b -bas ased ed rese resear arch ch in acco accoun unti ting ng Conclusions

397

The positive approach Income smoothing hypothesis Earnings management The paradigmatic status of accounting Conclusions

441 449 456 463 465

Notes

465

References

472

Current-value accounting

477

14.1 14.1 14.2 14.2 14.3 14.3 14.4 14.4 14.5 14.6

478 478 480 482 483 483 484 505

The The rele releva vanc ncee of the the inco income me conc concep eptt The tradit traditiona ionall accou accountin nting g concep conceptt of income income The nature nature of the econom economic ic concep conceptt of income income Conc Concep epts ts of capi capita tall maint mainten enan ance ce Concepts of current value Conclusions

Notes

505

References

508

General price-level accounting

51 1

15.1 15.1 15.2 15.3 15.3 15.4 15.4

Gene Genera rall pric pricee-le leve vell rest restat atem emen entt of of his histor toric ical al-c -cos ostt fin finan anci cial al stat statem emen ents ts Adjusting specific items for general price-level changes The The mone moneta tary ry–n –non onmo mone neta tary ry dist distinc inctio tion n Pric Pricee-le lev vel indi indice cess

512 513 517 517 520 520


















Preface

A single generally accepted accounting theory does not exist at this time. Several attempts have been made to formulate such a theory. Starting with different assumptions and using different methodologies, the various attempts have resulted in different frameworks for financial reporting standards. The construction of an accounting theory requires the justification or refutation of existing accounting practices. Under the traditional approach, construction and verification of a theory were considered virtually synonymous. In the past ten years, however, a new approach that employs a distinct verification process has emerged. The underlying objective of both approaches is the same: to develop a conceptual framework for what accountants do or are expected to be doing. A coherent system of objectives and assumptions is necessary for the promulgation of consistent standards that define the nature, function, and scope of financial statements and the techniques for producing them. In other words, the standard-setting process must be guided by a generally accepted accounting theory. Constructing and verifying an accounting theory consists of defining and selecting the objectives of accounting and financial statements and delin eating the elements of financial statements, the attributes of these elements, and the appropriate unit of measure to be used. Given the diversity of assumptions within the accounting environment, writers, researchers, and practitioners have tackled the task of theory construction in various ways. The result has been a state of continual crisis or revolution within accounting, in which (1) various accounting paradigms, or models, have competed for primacy, (2) vested interests groups have argued argued for the domination of their particular paradigms and resultant theories, and (3) a gradual politicization of the standard-setting process has taken place.

















Licensed Licensed to: iChapters iChapters User User x E C A F E R P

accounting theory. Chapter 13 presents the positive approach to the formulation of an accounting theory and covers the issues of income smoothing and earnings management. Chapter 14 commences the examination of the asset valuation/income determination issue by focusi foc using ng on curren cur rent-va t-value lue account acco unting ing.. Chapte Cha pterr 15 present pre sent s general gen eral price-l pri ce-l evel accounting as an alternative accounting approach. Finally, Finally, Chapter 16 offers a synthesis of the asset valuation and income determination models; a clear differentiation is made between the attributes to be measured and and the unit of measurement used. used.

Acknowledgments I wish to express appreciation to the offices of the American Institute of Certified Public Accountant (AICPA), the Financial Accounting Standard Board (FASB), the American Accounting Association Association and the Editor of Accounting, of Accounting, Organizations Organizations and Society for their kind permission to reprint some of their material. FASB Statement No. 5, Recogni Reco gnitio tio n and Measurem Mea surement ent in Financia Finan ciall Statem Sta tement entss of Business Enterprises, Enterprises, is copyrighted by the Financial Accounting Standard Board, 401 Merritt 7, P.O. Box 5116, Norwalk, Connecticut 06856–5116, USA. Portions are reprinted with permission. Complete copies of this document are available from the FASB. FASB. I am indebted to numerous people for their help in reviewing the manuscript for the fifth edition. Literally scores of changes have been made in the fifth edition as a result of comments and suggestions received from anonymous reviewers of the manuscript at various stages. I wish to thank Vijay Kamdar and Maninder Bhuller of the University of Illinois at Chicago for their cheerful and intelligent assistance. I also thank them for their continuous and intelligent support. Finally, Fiona Freel and Annette Annette Abel of International are to be congratulated for a professional job.




















Index

a priori research 330 a priorist, response to data 105 AAA see AAA see American Accounting Association (AAA) Abdel-Khalik, A.R. 407 absolute idealism 311 absoluteness, organicism 311 absorption costing method 222, 223 abstract accounts 4 abstract empiricism 316–17 abstract individual, processing sensory input 377 Abstract Scientist (AS) 302–3 abstraction level, structure of a theory 81 academic accountants 252, 351–2, 432

neutrality 231, 234, 250–1 objectivity and hardness 233–4 proletarianization of 65–7 role performance 68–9 Accountants’ International Study Group Group 227–8 accounting academic status of 83, 330 as an ideology 98–9 art or science 40–1, 87, 109, 201, 236, 331, 348–50 attainment of optimal system 144–5 capitalism 12–13, 99, 318 as a commodity 101 communicative character of 41 concept of information 38, 98



















Licensed Licensed to: iChapters iChapters User User 556 X E D N I

truth in 230–6 virtues and role of 41–2 see also measurement accounting changes 53–4 conditioning phenomena 371 free-market approach 137 impact on investors 426, 427, 428, 429 accounting choice 53, 62, 149–50, 257, 447–8, 454 accounting concepts accounting theory 210–11, 215–17 defined 211 entity theory 7, 215–16 environmental factors 17, 153 establishment of 163 frame of reference 163 fund theory 216–17 international list 16 proprietary theory 7, 215, 216 Trueblood Committee 20 see also conceptual framework accounting discourse 41 accounting earnings, timeliness 229–30 The Accounting Establishment 10–12, Establishment 10–12, 21 accounting harmonization 17–19 defined 17 different from standardization 17 limits of 18–19

completeness 166, 191, 231 conservatism principle 196, 226–7 consistency 172, 185, 187, 196, 225, 228, 237 cost–benefit considerations 185, 187 decision-making 185, 341–6 defined 213–14 employees as potential users of 270, 273 fairness 68, 113–14, 250–3, 261–8 firms as preparers of 164–5 free-market regulation 136–8 full disclosure 196, 225–6 inductive approach 93, 112–13 information/economics paradigm 337, 346–8, 353, 442–4 interim reports 214 linguistic effects 369–70 market failures 136, 137–8, 344 materiality 55, 172, 185, 187–8, 196, 227–8, 369 monopoly control 136, 137 motivational use 443, 444 neutrality 166, 172, 187, 196, 231, 233, 234, 250–1, 253 objectivity 191, 196 performance-evaluation performance-evaluation use 443 pragmatic approach to theory 110 private-sector regulation 138–41 public-sector regulation 141–4



















Licensed Licensed to: iChapters iChapters User User 557

organicism 308–9, 311, 314 Pepper’s “world hypotheses” 308–11 perspectives on 308–14 accounting messages 105 accounting methodologies, ideography vs. nomothesis 304–8, 315 accounting methods choice of 53, 62, 149–50, 257, 447–8, 454 conservatism 173 development of 6 effect on decision-making 369–70 generally accepted 46 accounting objectives deductive approach 92–3, 111–12 environmental factors 17 evolutionary approach 150 fairness 114, 251 formulation of 164–5 prediction of economic economic events events 398 shift in emphasis 169 accounting policies accounting history 13, 14 changes 53–4 economic approach to theory 115 economic consequences 125, 126 environmental factors 17 full disclosure principle 226 political or economic economic goals 18

partiality of 126 situationist strategy 150, 152 and theory 107, 108–9, 110 uncertainty 103, 104 uniformity principle 229 virtues of 41 see also anthropological/inductive paradigm; positive approach approach accounting principles accounting theory 92–3, 110–16, 210–11, 217–30 attainment of optimal system 144–5 basic user primacy primacy principle 263–4 broad (ARS 3) 238–41 comparability principle 228–9 comparative or international accounting 15, 16 conservatism principle 196, 226–7 consistency principle 225, 228 cost principle 217–18 deductive approach to theory 92–3, 111–12, 116 defined 211 development in the USA 6–12 eclectic approach to theory 116 establishment of 163 extended user primacy principle 263–4 fairness 250 financial shenanigans 60 flexibility principle 228–9

I N D E X




















fair presentation 226 GAAPs 46, 47, 50, 107 general price-level gains/losses 515 general purchasing power 521 interim reports 214 investment tax credit 140–1 materiality principle 227 membership 131 monetary–nonmonetary distinction 517, 518 opinions issued 9, 127 receivables receivables and payables 488 and SEC 132, 133 Statement No.4 46, 50, 107, 109, 164, 165–7, 177, 197, 217–18 statements 127–8 users of financial statements 50 accounting profession see profession see accountants; auditors accounting profit equation 111 accounting pronouncements, taxonomy of 197, 198 accounting propositions deductive approach 92–3, 111–12, 113 fairness 250 inductive approach 93, 112–13 accounting regulations market impact of 426–7 need for 136 proliferation of 147

fragmentation of 83 functionalist view 315–17 and hypotheses 88 ideography vs. nomothesis 304–8, 315 intellectual foundations 319–22 interpretive view 315–16, 317 knowledge perspectives 308–14 mechanism 308–9, 310, 312–13, 314 organicism 308–9, 311, 314 Pepper’s “world hypotheses” 308–11 perspectives on 314–19 radical humanist view 315–16, 318, 319 radical structuralist view 315–16, 318–19 relevance relevance to real world accounting 41 role of 304 see also market-based research Accounting Research Bulletins (ARBs) 127, 139 Accounting Research Committee (Canada) 502, 516 Accounting Research Division 9, 165, 526 Accounting Research Studies (ARS) 128–9, 165–6 basic postulates (ARS (ARS 1) 237–8 broad principles (ARS (ARS 3) 238–41 changing prices 547 general price-level gain or loss 515 monetary–nonmonetary distinction 517–18, 520




















American Institute of Certified Public Accountants (AICPA) (AICPA) 127–9, 147, 148 Committee on Accounting Procedures (CAP) 127, 138 conceptual issues 193–4 critical-interpretative approach 126 developing countries 150–3 economic approach to theory 116 economic consequences 125, 126 entities concerned with 127–35 environmental factors 17 fairness 250 Financial Accounting Standards Board (FASB) 130–2, 138–41, 145–6, 147, 148–9 free-market regulation 136–8 goals of 125–7 harmonization of 17–19 individual/public accounting firms 127 international standards 150, 151–2 legitimacy of standard-setting process 144–6 management’s management’s attitude 338–9 nature of 124–5 new basis accounting method (BAM) 149 optimistic prognosis 145–6 pessimistic prognosis 144–5 politicization of 10–12 positive approach approach 446 private-sector regulation 138–41

authoritarian approach to theory 110 conservatism principle 226 contextualism 313 deductive approach to theory 92–3, 111–12, 113 defined 211 economic approach to theory 115 entity theory 216 environmental factors 17 fairness 250 flexibility in choice of 137 inductive approach to theory 93, 113 linguistic effects 369–70 market-based research accounting 426 pragmatic approach to theory 110 proprietary theory 215 sociological approach to theory 114 theory of account approach 111 voluntary differences/changes in 426 see also generally accepted accounting principles (GAAP) accounting technologies changes in 66 international transfer 150–1 accounting terminology bulletins 99 accounting theory and the AAA 84, 108, 110, 129 accounting concepts 210–11, 215–17 accounting postulates 210–11, 212–14

I N D E X






















pragmatic approach 108, 110–11 primary objective objective 108, 111 regulatory approach 123–53 social welfare 114–15, 116 sociological approach 98, 108, 114–15 structure of 209–41 theoretical approaches 98, 108, 110, 111–16 theory of accounts approach 111 traditional approaches 97–8, 110–16 see also behavioral also behavioral approach; approach; events events approach; human information processing approach; paradigms; positive approach; approach; predictive predictive approach Accounting Trends Trends and Techniques 47 accounting-period postulate 214 accretion broad principles of of accounting (ARS (ARS 3) 238

fittingness 70–1 Gerwith’s theory of justice 259–60 rationalization of 103 utilitarianism 69–70 activation level 282 adaptation value 420 adequate disclosure 225–6, 369 adjusted discounted-future-wages method 284 adjusted present value model 424 adjustment, probabilistic judgment model 375 administration costs 223 Adorno, T.W. T.W. 377 adverse selection 445 agency conservatism 136 agency costs 53, 149, 447 agency theory 136 analytical/agency model 339, 444–6, 447






















revenue and income recognition 220 Statement on Accounting Theory and Theory Acceptance (SOATATA) 110, 330–1, 337, 463 stockholders’ valuation model 478–9 Treadway Commission 25 American Institute of Accountants (AIA) approval of “broad principles” 7 development of accounting principles 6, 7 interest costs 7 American Institute of Certified Public Accountants (AICPA) Accounting Research Studies (ARS) 128–9 accounting standards 127–9, 147, 148 accounting standards overload 148 Anderson Committee 23–4 auditing standards report 20, 48

analytic propositions 86, 231 analytic theories 309, 310 analytical/agency paradigm 339, 444–6, 447 anchoring, probabilistic judgment model 375 Anderson Committee 23–4 Anderson, J. 65 annual-earnings series 399 annuity depreciation method 223 Ansari, Shahid 235 answer machines 103, 104 antecedent-consequent technique 370 anthropological/inductivee paradigm 331, 353, anthropological/inductiv 441–2, 464 exemplars 337–9 image of the subject matter 339 methods 339 theories 339

I N D E X






















going-concern postulate 213 present-value concept concept 320 proprietary theory 215, 216 true-income/deductive true-income/deductive paradigm 341 asset-valuation base 137, 194, 533 asset-valuation models 533–53 comparison/evaluation comparison/evaluation 535–7 differences 534–5 illustration of 537–46 assets accrual accounting 179 attributes of 180, 190, 194, 485–8, 533, 534–5, 536 backlog depreciation 490–2 broad principles of of accounting (ARS (ARS 3) 238–40, 241 capitalized value 485–8, 534–5, 536

Aubert, V. 64 audit decisions, probability elicitation 375 audit failure 23, 24, 60, 64–5, 147 audit quality 21, 25–6, 64, 65 audit risk 64, 65 auditing standards 124 AICPA report 20, 48 fairness 114, 251 Oliphant Committee 22 Auditing Standards Board (ASB) 22, 147 Auditing Standards Executive Committee (AudSEC) 22, 127 auditor independence 29, 30, 41, 127 auditors client harmony 55 Cohen Commission 21–2 financial reporting 134






















stewardship function 100 value approach 365 balance-sheet-oriented position 111 proprietary theory 215 Ball, R. 229, 425, 429 bank financial financial distress 26, 27, 406 Bank Insurance Fund 27 bank investment investment decisions 406 bank lending decisions 406 bank loan officers, as users of financial financial statements 50 banking regulations 462 banking sector GAAPs 48 GAO letter (1988) 25 GAO report on audit committees (1991) 28 GAO report on bank failures (1989) 26

Beidleman, Carl R. 450, 451, 453 beliefs 231 Belkaoui, Ahmed 114, 370, 403, 405, 454 Bell, D. 65 Bell, P.W. P.W. 110, 112 business income concept concept 504 reproduction costs 488 subjective profit 486 true-income/deductive paradigm 339 two kinds of gains 494 benefit theory 213 benefits, utilitarianism 69–70 Benke, Jr., R.L. 67 Benston, George J. 136 benzene molecule 92 BERAB 414 Bergson, Henri 310

I N D E X






















Briloff, Abraham J. 10 Broadbeck, May 90 Bromwich, Michael 145, 199 Brown, P. 425 Bruns, William 345 Brunswick, E. 373 Bruyn, S.T. 277 BSV model 430–1 Buckley, J.W. 83–4, 141 budgetary information 268, 277–9 budgetary slack behavior 346, 451 Bunge, Mario 79–80, 82, 88, 92, 349–50 Burchell, S. 103 bureaucracy 318, 352 Burgstahler, David C. 420 Burmeister, Edwin 413 Burrell, G. 304, 314, 315–16, 318

productive-capacity productive-capacity 483–4, 529 capital market research (CMR) paradigm 431–2 capital market setting 322 capital markets earnings forecasts 407 efficiency efficiency of 343, 344, 410, 427 equity of 262 external accounting 408–9 integrity of 63 nexus of contracts 445, 447 capital structure, risk premiums on bonds 402 capital surplus, development of accounting principles 7 capital transactions, cost principle 218 capital-asset pricing model (CAPM) 344, 412, 413, 431 capital-market-based research 82
























decision-usefulness/decision-model paradigm 341 general price-level accounting 512 going-concern postulate 213 normative theory 110 number of odd dollars (NOOD) 536 undervaluation of net assets 404

collectivism 381 Collins, Daniel W. 457 Collins, Denton 197, 198 combination-of-values 502–4 command of goods (COG) 537, 552 general price-level accounting 544 general price-level net-realizable-value

I N D E X
























definitions 176–80 development of 180–1 fundamental concepts 185–9 issues 174–80 as a kind of constitution 200 measurement methods 180, 189–90 myths about 200

Consumer Price Index for All Urban Consumers (CPI-U) 522, 528, 549 Consumer Price Index (CPI) 521, 522, 528 contemporary measures 43–4 content validity 86 contextualism 308–9, 310–11, 313–14 continuity, development of double-entry model 5
























correlation-based studies 312 correspondence formism 310 notion of 230 truth as 126, 230 correspondence rules 80 corruption 41

cultunits 383 cultural capital 351–2 cultural relativism 17, 345, 379–83 cultural reproduction 351 culturally synergistic studies 382 culture, concepts of 381 culture of critical discourse (CCD) 351–2

I N D E X
























databases 14, 15 Davidson, Andrew R. 382 Davis, T.R. 306 De Angelo model 457, 458 de-skilling 66 debit double-entry accounting 45, 46

decision-usefulness/decision-maker/individualuser paradigm 337, 345–6, 353 exemplars 345 image of the subject matter 345 models 346 theories 345–6 decision-usefulness/decision-model paradigm
























Derrida, J. 350 Descartes, René 310 description, as function of theory 81 descriptive accounting 109, 116, 337 designation process, concepts 85 designed accounting 54–65 big bath accounting accounting 57–9, 173

fraudulent financial reporting 63 Gaa’s user primacy 263–4 human resource accounting 268, 281–5 Jenkins Committee findings 264–5 Lev’s Lev’s equitable/efficient equitable/efficient policy 262–3 management commitment 138 multilayered reporting model 265–6

I N D E X









































































































































































































































































































































































Belkaoui-AccountingTheory-2009

Recommend Documents