Accounting for Business combinations: What's Next?

Abstract In 1960 the American Institute of Certified Public Accountants announced the establishment of a research study in the area of accounting for business combinations, the study to be conducted under the authority of the Accounting Research Division of the Institute. This study on business combinations, as well as the other research studies undertaken at that time, was intended to expose the background of the problem area, to identify the underlying principles and postulates upon which conclusions and recommendations could be based, and to develop conclusions and recommendations which hopefully would be both logical and practical. At least, these were the general objectives under which the research director for each study assumed his task. The studies would indicate logical solutions to accounting problems in relation to basic postulates and broad principles. They would be informative, but tentative and not highly authoritative. They would furnish a vehicle for exposure of matters for consideration and experimentation.