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March 18, 2026The Accounting Review

The General Impossibility of Normative Accounting Standards.

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Authors

JDJoel S. DemskiAmerican Accounting Association

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Implication

Theoretical analysis reveals limitations of accounting standards in ranking alternatives, suggesting conditional effectiveness.

Key Points

  • To explore whether normative accounting standards can consistently rank accounting alternatives based on individual preferences.
  • Interpreted accounting theory regarding individual ranking of accounting alternatives.
  • Proven the non-existence of a complete set of standards for ranking alternatives consistently.
  • Analyzed various systems like ASOBAT and cost-allocation guides for reliability.
  • Demonstrated that no universal accounting standards exist that always provide consistent rankings.
  • Identified specific conditions under which these standards may work or fail.
  • Highlighted that standards can be effective in certain scenarios, despite overall limitations.

Cite This Study

Joel S. Demski (1973) studied this question.

synapsesocial.com/papers/69ba423c4e9516ffd37a24a2https://doi.org/10.2308/tar-4497637
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1The Possibility of a Normative Accounting Standard.1976
  2. 2The Possibility of Partial Accounting Standards.1980
  3. 3CURRENT PROBLEMS AND ACCOUNTING THEORY.1944
  4. 4An Economic Analysis of the Chambers' Normative Standard.1976 · 1 citations
  5. 5On the Impossibility of a Static Accounting Theory: A Short Essay on the Nature of Accounting Theory2026