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March 18, 2026The Accounting Review

Are There 'Principles' of Accounting?

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Authors

CLCharles A. Lewis

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Overview

Explores misunderstandings of audit reports and financial statements, suggesting clarity is needed for better comprehension.

Key Points

  • To address lay misunderstandings regarding audit reports and financial statements in accounting.
  • Analyzed the evolution and specificity of short form audit opinions.
  • Examined the impact of technical terminology on comprehension.
  • Identified variations in accounting methods and their implications.
  • Highlighted widespread misunderstanding among lay readers.
  • Found that technical language obscures important concepts.
  • Noted variations in accounting methods lead to different but justified outcomes.

Cite This Study

Charles A. Lewis (1959) studied this question.

synapsesocial.com/papers/69ba42bc4e9516ffd37a34e5https://doi.org/10.2308/tar-7131412
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Also Consider

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

  1. 1PRINCIPLES AND CONVENTIONS.1944
  2. 2ACCOUNTING PRINCIPLES: THEIR GENERAL ACCEPTANCE AND APPLICATION.1954
  3. 3THE PHILOSOPHY OF ACCOUNTING (CONTINUED).1958
  4. 4A TENTATIVE STATEMENT OF ACCOUNTING PRINCIPLES AFFECTING CORPORATE REPORTS.1936
  5. 5THE RELATION OF FUNCTION TO PRINCIPLES.1938