AICPA Committees



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In putting before the public a preliminary report prepared by the committee on terminology of the American Institute of Accountants, it is well to emphasize the tentative nature of this work. As the committee says in its preliminary notes, the definitions are put forward not with any thought that they are final but rather to encourage criticism of a constructive kind. The committee probably feels that in many cases better definitions will be found, and suggestions for improvement will be welcome. It is necessary to lay stress upon the tentative nature of this report for two reasons: first, in order that readers may be encouraged to submit reforms, and, second, that there may be no possible misunderstanding as to the position of the American Institute of Accountants. The Institute through its council has authorized publication of this book, but in doing so it specifically withholds official approval of the definitions contained. This seemingly contradictory statement may be explained by the earnest desire of the Institute to do everything possible to stimulate interest in the vitally important question of terminology. So that the report may be subjected to criticisms not only by members of the Institute but by interested people everywhere, it is offered for public sale. Everyone who feels that there may be improvement in any definition or that other definitions should be included is invited to submit his or her recommendations.

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Originally published by: American Institute of Accountants


Accounting -- Terminology


Accounting | Taxation


Copyright and permission to reprint held by: American Institute of Certified Public Accountants

Accounting terminology: Preliminary report of a Special Committee on Terminology

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