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Cost Basis: Accounting's "Samson's Tresses"

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  • Terrill William A.

    (University of North Carolina at Chapel Hill)

Abstract

A weakening of the usefulness of accounting for financial purposes of both management and external interestsand perhaps for the internal performance appraisal activities of company managementis seen by the present author if, through the intermingling of different types of economic data, it should be shorn of the objectivity, reliability, and communicability of historical cost. The viewpoint taken is not that accounting should be restricted in its services, but that it should meet them as a comprehensible and consistent methodology.

Suggested Citation

  • Terrill William A., 2011. "Cost Basis: Accounting's "Samson's Tresses"," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(1), pages 1-18, January.
  • Handle: RePEc:bpj:aelcon:v:1:y:2011:i:1:n:9
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