
Accounting Principles for the Autonomous Corporate Entity
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?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...
?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