Theriseof“economicconsequences”.docVIP

The rise of “economic consequences” The impact of accounting reports on decision making may be the most challenging accounting issue of the 1970s Since the 1960s, the American accounting profession has been aware of the increasing influence of “outside forces” in the standard-setting process. Two parallel developments have marked this trend. First, individuals and groups that had rarely shown any interest in the setting of accounting standards began to intervene actively and powerfully in the process. Second, these parties began to invoke arguments other than those which have traditionally bee