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History and evolution of accounting theory
Evolution of accounting theory
Final examnation of finanical accounting 1
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It was my pleasure to be given the opportunity to attend the International Conference of Critical Accounting at Hunter College. At the conference, there were many professional international accountants, brilliant college and university professors, and many others who are expertise in the accounting field. All of these accountant professionals shared their experiences in the field, and their researches and findings. However, there was a unique session of this conference, a brief memorial of Abraham J. Briloff. He was an intelligent accountant and was a mentor for many in his field. Therefore, I would like to dedicate this assignment in memory of Briloff and his influences in the accounting field.
Abraham J Briloff was an expert of accounting. He was born on July 1917 and passed away in 2012 at the age of 96 in his home, located at Great Neck, New York. Briloff’s parents immigrated to the United States from Russia. He graduated from the business school at the City College of New York in 1937 then proceeded to teach book keeping and stenography in high school. He also made extra income by doing and reviewing tax returns for an average leveled accounting firm that later became known as Seidman and Seidman.
In 1951, Briloff developed his own accounting firm, which received massive attention from the corporate societies and other business dealers. He also published books during his lifetime. One of his publications was named Effectiveness of Accounting Communication. The book was based on his doctoral thesis, The Truth about Corporate Accounting and Unaccountable Accounting-Games. .
During the 1960s, Briloff became a critic in the accounting field by raising alarm on the standards and habits that in his own opinion did not agree with t...
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...eeded. This was all thanks to his passion and commitment to proper accounting practices that followed ethics and transparency.
Abraham J. Briloff would rightfully be considered a role model in accounting with reference to his radical efforts and passion for accountability by all accounting firms at their respective capacities. One thing that remains strong about him is that even at 96 years old he never quit and continued to practice in what he believes in.
Works Cited
Strom, S. (2013, December 15). Abraham Briloff, Accounting Professor, Dies at 96. Retrieved from The New York Times: http://www.nytimes.com/2013/12/16/business/abraham-briloff-accounting-professor-dies-at-96.html?_r=0
Weiss, G. (2012, May 19). Champion of Accounting and Accountability. Retrieved from Barron's: http://online.barrons.com/news/articles/SB50001424053111904571704577404100776242484
Reimers, Jane L. (2003). Financial Accounting A Business Process Application. Upper Saddle River, New Jersey, Prentice Hall.
Donal E. Kieso, Wegandt J. Jerry, Warfield D. Terry. (2012). Intermediate Accounting. Hoboken, NJ: Wiley.
Wolk, H., Dodd, J., & Tearney, M. (2003). Accounting Theory: Conceptual Issues in a Political and Economic Environment (6th edition ed.). South-Western College Pub.
Marshall, M.H., McManus, W.W., Viele, V.F. (2003). Accounting: What the Numbers Mean. 6th ed. New York: McGraw-Hill Companies.
...ulating corporate reporting. a critical review of arguments. ‘Accounting and Business Research’, Vol. 40. , pp. 275-77.
Gibson, C. H. (2011). Financial reporting & analysis: Using financial accounting information. (12th ed.). Mason, OH: South-Western Cengage Learning.
Giroux, G. (Winter 2008). What went wrong? Accounting fraud and lessons from the recent scandals. Social Research, 75, 4. p.1205 (34). Retrieved June 16, 2011, from Academic OneFile via Gale:
Arthur E. Andersen was born in a small town in Illinois and by the age of 16, he was an orphan. He was out in the world on his own. Luckily, his father’s employer was kind enough to allow Andersen to work in the mailroom at Fraser & Chalmers. He attended college courses at night while making his way from the mailroom to the assistant controller position. Andersen joined Price Waterhouse & Co and then took his Certified Public Accounting exam. He also was a professor at Northwestern University. He was very ambitious and according to Susan Squires who wrote Inside Arthur Andersen, “Arthur E. Andersen was an entrepreneur” (28).
Amelia Annette Baldwin, Brad S. Trinkle. “The Accounting Educators’ Journal.” An Initial Placement Research Ranking of U.S. Accounting Doctoral Programs. N.p., n.d.
Schroeder, Richard G., Myrtle Clark, and Jack M. Cathey. Financial Accounting Theory and Analysis: Text and Cases. 10th ed. Hoboken, NJ: John Wiley & Sons, 2009. 97. Print.
"Accountants and Auditors." U.S. Bureau of Labor Statistics. U.S. Department Of Labor, 18 Dec. 2007. Web. 20 Nov. 2009. .
Thirty years ago, (August 17, 1987), I enter the Dallas Accounting Center in Renaissance Tower ready to make my mark on the world as an Accountant I at Mobil Oil Corporation. Invited to interviewed with multiple departments, my eyes were set on working in the Joint Interest Accounting Group , affectionately known as the Country Club Group. When I showed up to work on Monday, my position was not in Joint Interest Accounting but just across the aisle in Audits & Receivables (Not the country club group!).
What does the accountant of the future need to be successful? A sturdy education that while is based on traditional accounting practices, also prepares future accountants for the plethora of changes happening in the accounting universe. Frequently, most of the institutions responsible for educating professionals fail to evolve as rapidly as the professional practice itself (Bedford et al. 4). In every way, accounting is expanding and in order for the future to have competent accountants, accounting education must expand as well. Major changes occurring in the world of accounting include the expansion of services and products, changes in competition, an increase in specialization, and an increase in and an advancement of technology. It is up to academic institutions to find proactive ways in which to prepare students for such changes. Accounting education of the future will require more breadth to cover the inevitable expansion of services and products, increased knowledge of economics, marketing, management and information systems to increase competitive advantage, a balanced course load that provides a general accounting knowledge as well as increased knowledge of a specialization, and also a greater, proactive focus on the use of continuously advancing accounting technologies (Bedford et al. 8). Also in play is the chance of change in accounting standards, the move from US GAAP to IFRS. While there are no certainties surrounding the threat of such change, students in the U.S. should acquire at least a general, basic feel for the practices used in regards to IFRS. The future health of the accounting profession depends, to a great extent, on the health of our students (Gormon and Hargadon 4). Reorganization of curriculums would surely be difficult and assumedly time-consuming, but nevertheless, completely
Accounting has been a living part of history since the Neolithic period and remains a prevalent and ever-evolving profession still to this day. This essay therefore proposes to look at the significance and role of history specifically related to the accountancy field. In order to substantiate this claim of the importance of accounting history, numerous benefits of accounting history will be presented. Factors such as the use of historical research and its availability thereof to constantly develop accounting policies will be discussed as well as how historical accounting practices can be used to understand current practice and assist in the training of individuals in the accounting field. Lastly, the importance of history in the development
Accounting is a very important term to our modern society. It is the career for men and women who at the start have their eyes set on top positions in industry, management, government, and general business. Accounting is a basic need of every businessman, from the operator of a filling station to the government of the United States. It's so important to our society. None of the business organization can operate without is. They are there-somewhere-in every business. In small business, people use pen, ink and skill keep the records. In large business, modern accounting machines are used to operate. Men and women are directing these machines in the accounting process. Wise businessmen enter business must have some accounting knowledge.