by Wanda A. Wallace
The Sarbanes-Oxley Act of 2002 (July 30, 2002 H.R. 3763) has as Section 108 a provision that the Securities and Exchange Commission "conduct a study on the adoption by the United States financial reporting system of a principles-based accounting system." The question is whether a principles-based system is intended to be parallel to substance, in contrast to a rules-based system being parallel to form.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access