Abstract
In Chapter 2, recognition was given to the fact that financial accounting reports are not produced as an end in themselves, but merely as means to an end. Financial accounting information is provided both to internal and external users with the objective of improving their decision-making. Indeed, an overall objective for financial reporting was identified as the provision of information about business enterprises that is useful in making economic decisions.
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Notes and References
- 1.Institute of Chartered Accountants in England and Wales, Statement of Intent on Accounting Standards in the 1970s (ICAEW, 1969).Google Scholar
- 4.See, for example, W. H. Beaver, ‘Market Prices, Financial Ratios and the Prediction of Failure’, Journal of Accounting Research, vol. 6, no. 2, Autumn 1968, pp. 179–92.CrossRefGoogle Scholar
- 5.Accounting Standards Committee, Statements of Sources and Applications of Funds, SSAP 10 (1978), para. 7.Google Scholar
- 6.American Institute of Certified Public Accountants, Reporting Changes in Financial Position, Accounting Principles Board, Opinion No. 19 (March 1971), para. 2021.05.Google Scholar
- 7.P. Mason, Cash Flow Analysis and the Funds Statement, Accounting Research Study, no. 2 (AICPA, 1961).Google Scholar
Copyright information
© Robin John Limmack 1985