Accounting principles generally accepted in the United States versus those generally accepted elsewhere**This article is reprinted, with permission, from The International Journal of Accounting: Education and Research (Spring 1968) pp 91–103

1983 ◽  
pp. 57-69 ◽  
Author(s):  
Gerhard G. Mueller
Keyword(s):  
United States ◽  
The United States ◽  
Accounting Education ◽  
Accounting Principles

scholarly journals The USA Federal Debt-to-GDP Ratio and The Unified Budget Act’s Lack of Generally Accepted Accounting Principles

2021 ◽  
Vol 5 (2) ◽  
pp. 49-57
Author(s):  
Paul F. Gentle
Keyword(s):  
United States ◽  
The United States ◽  
Public And Private ◽  
True Nature ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles ◽  
Trust Funds ◽  
The Usa ◽  
Federal Debt ◽  
Blue Line

Here in the beginning of 2021, two of the truly relevant federal public finance issues are presented in this article. One is the Debt-to GDP Ratio. The second topic is the true nature of deficits, surpluses and future liabilities treated in budgets constructed via the Unified Budget Act. Two graphs on these issues are included. This article shows that the present Debt-to-GDP ratio is relatively high, as if the nation similar to when the United States was in a period of a major war. This graph is shown in this article’s Figure 1. There has been evidence in the macroeconomic literature that indicates a high Debt-to-GDP ratio can possibly result in some degree of slowed economic growth. Though the literature is varied on that point. The reason for the possible crowding out effect has to do with the competition for loanable funds. There is competition from both the public and private demanders of those loanable funds. Furthermore, there is the reality that all federal trust fund balances of the United States must be used to hold U.S. Treasury bonds. For figure 2, two categories on U.S trust funds are shown. One category is the combined total of Social Security. Medicare, Disability and related funds. This is shown in a red line. All the other federal trust funds are indicated in a blue line. There is a graph that shows these two lines. The graph is of the percentage share between the two categories. As a result, the red and blue lines are inverse functions of each other. Over the eighty-year period (1940-2020), there has been variation if both the red and blue lines. The goal of this articles is for leaders and government analysts to be more aware of the issues of the USA Federal Debt to GDP Ratio and the Unified Budget Act’s lack of Generally Accepted Accounting Principles.

LEGAL ACCEPTANCE OF ACCOUNTING PRINCIPLES IN GREAT BRITAIN AND THE UNITED STATES: SOME LESSONS FROM HISTORY

1988 ◽  
Vol 15 (1) ◽  
pp. 1-27 ◽  
Author(s):  
Jean Margo Reid
Keyword(s):  
United States ◽  
Great Britain ◽  
Case Law ◽  
The United States ◽  
Capital Maintenance ◽  
Fixed Asset ◽  
Business Corporation ◽  
Accounting Principles ◽  
Per Se ◽  
Court Of Appeal

This paper examines and contrasts nineteenth century case law in Great Britain and the United States in which courts had to decide whether to accept accounting concepts having to do with making provisions for depreciation, amortization and depletion. It should be emphasized that the courts were not arguing about accounting theory, per se; they were deciding particular disputes, which depended on the meaning in each case of pro its. By 1889, when Lee v. Neuchatel Asphalte Company was decided, British courts had rejected accepted fixed asset accounting conventions in determining profits in tax, dividend, and other cases while United States courts accepted these conventions, except in the case of wasting asset companies. This historical contrast is of particular interest because a recent reversal of these countries legal stances has occurred through legislation. In the United States, the Revised Model Business Corporation Act and the legislatures of several states have now rejected accounting concepts of profit as the legal test for dividends and other shareholder distributions. The reasons for this rejection appear to be similar to those used by the British Court of Appeal nearly 100 years ago. In Great Britain, on the other hand, the 1980 Companies Act reverses much of the Lee case and places on accountants new responsibilities for determining whether company distributions to shareholders would violate the capital maintenance provisions of the act.

Egy vállalat fizetőképességének vizsgálata nemzetközi számviteli viszonylatban

2018 ◽  
Vol 3 (4) ◽  
pp. 332-342
Author(s):  
Alexandra Szekeres ◽  
Ildikó Dékán Tamásné Orbán
Keyword(s):  
United States ◽  
The United States ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles ◽  
Us Gaap

Minden vállalkozás számára rendkívül fontos, hogy rövid-, illetve hosszútávon fizetőképes legyen. A fizetőképesség egy vállalat működésének alapfeltétele, így különösen a rövidtávú fizetőképesség, másnéven a likviditás kiemelt fontosságú szerepet tölt be az adott vállalkozás életében. Éppen emiatt fontos arra törekednie, hogy elkerülje a likviditási problémákat. Jelen cikkben egy amerikai nagyvállalat rövidtávú fizetőképességének vizsgálatára kerül sor, amely a pénzügyi kimutatásait a US GAAP (The United States Generally Accepted Accounting Principles – az Amerikai Egyesült Államok Általánosan Elfogadott Számviteli Alapelvek) szerint készíti. Bemutatásra kerülnek az alapvető rövidtávú fizetőképességi mutatók, majd az ezek alapján levont következtetések. Mivel a mutatók számolásához a vizsgált vállalat pénzügyi kimutatásának adataira van szükség, amely eltéréseket mutat egy magyar vállalkozás éves beszámolójához képest, így tanulmányunkban kitérünk a két számviteli rendszer közötti különbségekre is azoknál a tételeknél, amelyek hatással vannak a likvidtási mutatókra, különös tekintettel a forgóeszközök tételeire, illetve a rövid lejáratú kötelezettségekre.

ACCOUNTING HISTORY: A SURVEY OF ACADEMIC INTEREST IN THE U.S.

2001 ◽  
Vol 28 (1) ◽  
pp. 111-130 ◽  
Author(s):  
Elliott L. Slocum ◽  
Ram S. Sriram
Keyword(s):  
United States ◽  
Empirical Research ◽  
The United States ◽  
Accounting Education ◽  
Hiring Decisions ◽  
Academic Interest ◽  
Accounting Research ◽  
Accounting History ◽  
Survey Results ◽  
The U.S

A number of the reports by academicians and practitioners in the United States have called for significant change in accounting education and an enhanced role for accounting history in curricula and research. However, the survey results reported in this paper suggest that achieving wider acceptance of accounting history presents some perplexing problems. Doctoral faculty, especially assistant professors, report less interest in accounting history than non-doctoral faculty. Although a majority of academicians consider accounting history research to be acceptable for promotion, tenure and hiring decisions and a valuable aid to teaching, practitioners, students, doctoral faculty strongly believe that it is of less value than mainstream empirical research in accounting. Most academicians perceive that research in accounting history is not as methodologically rigorous as other branches of accounting research.

scholarly journals A Summary of Developments in Accounting Education in the United States 1990–2015

2018 ◽  
Vol 5 (4) ◽  
pp. 114-119
Author(s):  
G.J. Previts ◽  
J. Jewkes
Keyword(s):  
United States ◽  
The United States ◽  
Accounting Education ◽  
Working Environment ◽  
Professional Career ◽  
Curriculum Structure ◽  
The Sixties ◽  
Cultural Base ◽  
Constant Improvement

The article examines the consequential long-term professional experience of the reforms of higher education in accounting in the United States, which started in the sixties of the last century and is continuing today. This is the joined efforts of non-governmental associations, first and foremost, the American Association of Accountants (AAA) and accountants-academic theorists as well as accountants practitioners. The article considers the publications of leading scientists, who have summarised the experience in the development of the profession and who showed the directions of its development. Particular attention is paid to the conclusion that today an accountant must possess a broad cultural base in the framework of preparation for the professional career in public accounting, industrial accounting or teaching accounting. This article suggests some ways in which accountants can adapt to their rapidly changing working environment. The attention is drawn to the fact that the constant improvement of the effectiveness of the curriculum should be based on the structure of the curriculum, derived from a set of clearly defined goals. The authors of this publication refer the readers to specific articles, which contain the examples of curriculum structure that includes the business core, the core of accounting and the area of specialization of an accounting specialist.

scholarly journals Big GAAP-Little GAAP Does One-Size-Fits-All Still Work?

2011 ◽  
Vol 4 (5) ◽  
Author(s):  
Paula Morris ◽  
Jane Campbell
Keyword(s):  
United States ◽  
The United States ◽  
Common Elements ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles

Initiatives for developing Generally Accepted Accounting Principles for private/smaller businesses have surfaced in the United States and internationally.  This paper explores those initiatives and identifies common elements and problems in these efforts.

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