The Journal of Accountancy, Vol. 16: July, 1913-December, 1913 (Classic Reprint)

July, 1913-December, 1913

ISBN 10: 1528441001 / ISBN 13: 9781528441001

Published by Forgotten Books, 2024

About this Item

Seller Inventory # 26386573888

Bibliographic Details

• Title: The Journal of Accountancy, Vol. 16: July, 1913-December, 1913 (Classic Reprint)
• Publisher: Forgotten Books
• Publication Date: 2024
• Language: English
• ISBN 10: 1528441001
• ISBN 13: 9781528441001
• Binding: Soft cover
• Condition: New

About this title

Synopsis

This book explores the historical prevalence of inaccurate financial statements and the factors that contribute to their existence. The author argues that financial statements are inherently estimates and subject to fluctuation, leaving room for error and potential misstatement. Drawing upon examples from business failures and industry reports, the author emphasizes the impact of factors such as overstated net worth, insufficient provision for losses, and procrastination in addressing financial issues. The author contends that despite the adoption of standard reporting forms and increased scrutiny by credit agencies, misstatement remains a significant problem, leading to substantial financial losses. The book highlights the importance of independent verifications and stresses the ethical and practical benefits of accurate financial reporting for both businesses and the wider economy.