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Accounting Principles for the Autonomous Corporate Entity.
By Henry P. Hill
ISBN: 0-89930-212-2
ISBN-13: 978-0-89930-212-6
156 pages, exhibits
Quorum Books
Publication: 4/15/1987
List Price: $66.95 (UK Sterling Price: £37.95)
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Media Type: Hardcover
Reviews:
  • About 30 or 40 years ago there were frequent debates in the accounting literature about the merits of a `proprietary' versus an `entity' theory. Hill proposes that many accounting controversies ought to be resolved by adopting a new entity approach for large corporations. This would result in treating interest payments as distributions of income (to capital providers) just as dividends are currently so treated. Hill, a former partner with the CPA firm Price Waterhouse, discusses a number of accounting issues, including business combinations, pensions, and leases.... This work could be useful to students writing papers on accounting controversies.
    —Choice
  • As Henry P. Hill proposes in his brief, brilliant new tract, `Accounting Principles for the Autonomous Corporate Entity,' the economists and common sense have capital placed more intelligently than the accountants do. Capital really is the assets on the left-hand side of the balance sheet, and what Generally Accepted Accounting Principles calls `capital' is really the sources of capital.
    —American Banker
Table of Contents:
  • Exhibits
  • Preface
  • The Origins of Accounting Principles
  • The Modern Corporation
  • Misconceptions in Accounting for Capital Securities
  • Pension Funds as a Source of Capital
  • Income Tax Concessions as a Source of Capital
  • Leased Capital
  • The Financial Statements: Putting the Entity Concept to Work
  • The Pros and Cons of Making the Changes Advocated Herein
  • Trends of Accounting Thought
  • Bibliographical Note
  • Index
LC Card Number: 86-25587
LCC Class: HF5686
Dewey Class: 657
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