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ABSTRACT Introductory financial accounting courses usually present accounting uncritically, as a useful aid to investment and lending decisions, while glossing over numerous long‐acknowledged theoretical and practical issues. This article describes these issues and suggests that students should be taught that accounting must fill both an accountability function and a decision‐support function. The tensions between these roles explain many otherwise anomalous features of accounting.
Daniel Tinkelman (Tue,) studied this question.