Window-dressing in German interwar balance sheets
AbstractGerman accounting rules value assets and liabilities asymmetrically and thus lead to grossly distorted balance sheets. In the interwar debate on a reform of disclosure regulation, financial experts considered the (undisclosed) tax balance sheet, which had to be drawn up separately for the corporate tax assessment, as a paradigm for adequate financial disclosure. However, due to tax secrecy thay were barred from analyzing tax documents. Using archival evidence, we analyze tax balance sheets from which the reliability of disclosed balance sheets of the interwar period can be assessed. It emerges that companies overstated their profits in the middand late 1920s, but grossly understated them in the Nazi economy.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 305.
Date of creation: Jul 1998
Date of revision:
Contact details of provider:
Web page: http://www.econ.upf.edu/
Germany; accounting history; window-dressing; tax balance sheet;
Other versions of this item:
- Mark Spoerer, 1998. "Window-dressing in German inter-war balance sheets," Accounting History Review, Taylor & Francis Journals, vol. 8(3), pages 351-369.
- N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Edwards, Jeremy & Ogilvie, Sheilagh C., 1995.
"Universal Banks and German Industrialization: A Reappraisal,"
CEPR Discussion Papers
1171, C.E.P.R. Discussion Papers.
- Jeremy Edwards & Sheilagh Ogilvie, 1996. "Universal banks and German industrialization: a reappraisal," Economic History Review, Economic History Society, vol. 49(3), pages 427-446, 08.
- George J. Benston, 1994. "Universal Banking," Journal of Economic Perspectives, American Economic Association, vol. 8(3), pages 121-143, Summer.
- Malcolm Anderson, 1999. "Accounting History Publications 1998," Accounting History Review, Taylor & Francis Journals, vol. 9(3), pages 375-384.
- Luis Fernandez-Revuelta & Donato Gomez & Keith Robson, 2002. "Fuerzas Motrices del Valle de Lecrin, 1936-9: accounting reports and ideological struggles in time of civil war," Accounting History Review, Taylor & Francis Journals, vol. 12(2), pages 347-368.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.