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현대적 재무보고 및 회계원칙의 기원과 발달 - 1930년대 미국의 대공황을 중심으로- : A Study on the Origin and Development of Mondern Financial Disclosure Policy and Accounting Principles
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- Authors
- Issue Date
- 2002-09
- Publisher
- 서울대학교 경영연구소
- Citation
- 경영논집, Vol.36 No.2/3, pp. 23-50
- Abstract
- This study examines the process of establishing reliablity of accounting information and
the development of modern financial disclosure policy, especially focused on the Great
Depression(1929) in US and finds the policy implication for securing the credibility and
transpancy of accounting information and disclosure policy in Korea. In this paper, we review
the historical background and accounting practices with other economic reasons causing the
Great Depression and then explain the procedures and efforts done by government and
accounting institutions and professions to solve the economic crisis. Economic crisis
following the Great Depression had a significant influence on the reliability of accounting
information and disclosure policy in US. A lot of efforts to procure the credibility and
transparancy of accounting information and disclosure were made through the enactment of
related laws such as the Security Law and the Security Act Law as well as the development of
accounting principles. These related laws emphasized on the penalty and punishment in case
of accounting manipulation and injustice by management misleading investors. As a results of various efforts as above, the modern accounting disclosure practice focusing
on users of accounting information came to appear. However, until now it is not certain and
assured that modern accounting practice and disclosure in the true sense for users of
information are prevalent and widespread when we face frequent problems with the
reliability and transpancy of accounting information today.
- ISSN
- 1229-0491
- Language
- Korean
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