Article2007

Debating Accounting Principles and Policies: the Case of Goodwill, 1880–1921

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35 citations0/0 files storedAccounting Business & Financial History

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Accounting Theory and Financial Reporting Auditing, Earnings Management, Governance Accounting and Organizational Management

Abstract

Debate surrounding the publication of FRS 10 (ASB, 1997) in the UK displayed support for a variety of accounting policies for goodwill, advocated for a variety of practical and conceptual reasons. An analysis of papers written on goodwill between 1884 and 1921 explores whether this lack of unanimity is a recent phenomenon or not. The paper concludes that during this earlier period there were a number of areas of agreement regarding goodwill but, although a majority of authorities favoured a capitalise/amortise policy, there was a significant difference of opinion relating to its treatment once recorded in the accounts. Analysis also suggests that advocated policies were derived from a desire to promote and operationalise the principle of prudence.

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1989Industrial Structure, Capital Markets, and the Origins of British Economic Decline 1993The late nineteenth-century revolution in financial reporting: Accounting for the rise of investor or managerial capitalism?1988Industrial Structure, Capital Markets and the Origins of British Economic Decline.1962Studies in accounting theory 2010Auditing: A Practical Manual for Auditors 1966The Origin and Evolution of Nineteenth-Century Asset Accounting 1989Guidelines for financial reporting standards 1975The Concept of Profit in British Accounting, 1760–1900

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2017Family and Business during the Industrial Revolution 2011Defining goodwill: a practice perspective 2011‘Propositions put forward by quite honest men’: Company prospectuses and their contents, 1856 to 1940

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