Managerial Finance: Volume 9 Issue 2

The Development of Financial Accounting and Reporting Standards in the United Kingdom

A. Colin Storrar, Hugh B. Peebles

The Acounting Standards Committee (ASC) has recently been reconstituted, its membership revised and its agenda drastically reduced. Such sweeping changes in the body responsible…

SSAP 16 and Capital Maintenance

John Rowland

After more than five years debate Statement of Standard Accounting Practice No. 16 (SSAP 16) brought current cost accounting (CCA) into the annual financial reports of most large…

Accounting for Leases ‐ The Major Issues

Alan F. Fox

Following six years consideration of the problem, and the production of at least two widely circulated early versions of the proposed exposure draft, the ASC formally published ED…

Accounting Standards for the UK Oil and Gas Industry

Kenneth C. Pratt

When the Accounting Standards Steering Committee (ASSC) began the task of setting Accounting standards for the UK in 1969 there were many issues which needed their attention. The…

A Non‐Market Demand‐Based Approach to the Selection of Financial Reporting Standards

Steven B. Johnson, Dennis H. Patz

As Gonedes and Dopuch point out, there are many alternative approaches to the allocation of financial accounting information which might be viewed as competitors to ASC, FASB and…