Appropriate for financial accounting theory courses at both the senior undergraduate and professional master's levels.
The primary purpose of this book is to describe present-day accounting standards and to evaluate them in conceptual terms. With great emphasis on the past development of accounting ideas, Milburn and Skinner write with three main objectives in mind. The first is to examine the standards that govern financial reporting. The second is to explore the general theory underlying accounting standards, and the particular thinking that has influenced the form taken by individual standards. The third is to critically evaluate the standards and underlying theory of accounting.