Funds Statements: The APB Was Twice Behind the Curve

Accounting Historians Journal, Forthcoming

15 Pages Posted: 12 Apr 2015

See all articles by Stephen A. Zeff

Stephen A. Zeff

Rice University - Jesse H. Jones Graduate School of Business

Date Written: April 10, 2015

Abstract

This paper discusses the circumstances in which the Accounting Principles Board issued Opinions 3 and 19, in 1963 and 1971, respectively, when the Board encouraged and then required companies to publish a statement of source and application of funds, known as the funds statement. In doing so, the Board both times lagged behind company practice and the views of influential organizations, including the New York Stock Exchange and the Securities and Exchange Commission.

Keywords: funds statement, standard setting

JEL Classification: M41

Suggested Citation

Zeff, Stephen A., Funds Statements: The APB Was Twice Behind the Curve (April 10, 2015). Accounting Historians Journal, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2593133

Stephen A. Zeff (Contact Author)

Rice University - Jesse H. Jones Graduate School of Business ( email )

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