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Historical Developments

  • Robert W. Scapens
Chapter
Part of the Studies in Finance and Accounting book series

Abstract

The current concern about the implications of using traditional accounting methods in a period of inflation is not unique. Accountants in many countries have from time to time raised questions such as that asked in the United States by Middleditch in 1918: ‘Should accounts reflect the changing value of the dollar?’1 Such questions have generally coincided with material rates of inflation. However, in recent history periods of relative monetary stability or even deflation have generally followed periods of inflation, and the cyclical pattern has hindered the introduction of revised accounting practices. The movement towards reform during a period of inflation has frequently lost momentum with the return of relative monetary stability.

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Notes and References

  1. 4.
    H. W. Sweeney, Stabilized Accounting (New York: Harper, 1936).Google Scholar
  2. 10.
    Accounting Standards Steering Committee, Inflation and Accounts — Discussion Paper and Fact Sheet (1971).Google Scholar

Copyright information

© Robert W. Scapens 1981

Authors and Affiliations

  • Robert W. Scapens
    • 1
  1. 1.University of ManchesterUK

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