The Withdrawal of Current Cost Accounting in the United Kingdom: A Study of the Accounting Standards Committee |
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| Authors: | CHRISTOPHER K M PONG GEOFFREY WHITTINGTON |
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| Institution: | Lecturer in the Department of Accounting and Business Method. University of Edinburgh;Price Waterhouse Professor of Financial Accounting in the Faculty of Economics and Politics, University of Cambridge. |
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| Abstract: | Evidence from the archives of the U.K. Accounting Standards Committee (ASC) is used to trace the events leading to the withdrawal of the current cost accounting standard, SSAP 16, from 1980 to 1988. Three central issues are addressed. First, the ASC's role as a regulatory body is considered in the light of the failure to obtain compliance with SSAP 16 and to find an acceptable replacement. Second, the decline in support for SSAP 16 is explained in terms of changes in the economic environment. Third, the roles of different interest groups in the process are analysed. |
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| Keywords: | Accounting standards Current cost accounting Inflation accounting Regulation |
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