Fair value measurement is increasingly spreading in accounting standards. In February/201'8 it was present in 61 FASB pronouncements. Such diffusion led to the issuance of SFAS 157 - Fair Value Measurements, in which many prior definitions and measurement requirements, presented in other pronouncements, were replaced by a single standard on this subject. But the expansion of situations in which fair value measurement is required makes more difficult to ensure that the computed measure of value is actually fair. Out of the objectivity of current sales prices in an active market, all other measures of value are expectations about the future, inherently uncertain and inaccurate. Thus, the desired justice of the computed figures lies not in its accuracy, but in the using of the correct concepts for measuring accounting transactions and events. This article examines whether it is correct the fair value concept and measurement structure present in SFAS 157. For such, the characteristics of this principle are confronted with the secular concept of capital and income set by the laureate American neoclassical economist Irving Fisher, which were incorporated into GECON – Information System for Economic Management – a Brazilian managerial accounting model developed in the University of Sao Paulo by the now retired professor Armando Catelli. The results indicate that SFAS 157 fair value concept and measurement structure are incorrect or incomplete, suggesting that the maintenance of the fair value expression in accounting seems inadequate.
{"title":"The Fairness of Fair Value: SFAS 157, Irving Fisher and GECON","authors":"P. Lustosa","doi":"10.2139/ssrn.1814176","DOIUrl":"https://doi.org/10.2139/ssrn.1814176","url":null,"abstract":"Fair value measurement is increasingly spreading in accounting standards. In February/201'8 it was present in 61 FASB pronouncements. Such diffusion led to the issuance of SFAS 157 - Fair Value Measurements, in which many prior definitions and measurement requirements, presented in other pronouncements, were replaced by a single standard on this subject. But the expansion of situations in which fair value measurement is required makes more difficult to ensure that the computed measure of value is actually fair. Out of the objectivity of current sales prices in an active market, all other measures of value are expectations about the future, inherently uncertain and inaccurate. Thus, the desired justice of the computed figures lies not in its accuracy, but in the using of the correct concepts for measuring accounting transactions and events. This article examines whether it is correct the fair value concept and measurement structure present in SFAS 157. For such, the characteristics of this principle are confronted with the secular concept of capital and income set by the laureate American neoclassical economist Irving Fisher, which were incorporated into GECON – Information System for Economic Management – a Brazilian managerial accounting model developed in the University of Sao Paulo by the now retired professor Armando Catelli. The results indicate that SFAS 157 fair value concept and measurement structure are incorrect or incomplete, suggesting that the maintenance of the fair value expression in accounting seems inadequate.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116696781","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract In “ Culture: the Anthropologist's Account” (1999) Adam Kuper advised avoidance of the use of the word ‘culture’ at all. It has come to denote too much and has now come to mean too little. However, just as “the history of all cultures is the history of cultural borrowing” (Edward Said, 1994), the same can be said of accounting history. It is not purported that the vestiges of accounting activities and practices we can study are independent of erratic but inevitable stimuli from other jurisdictions and colonial movements. Instead, many and multiple borrowings occur, in technology, professionalization, auditing and other core areas of accounting. At the same time accounting historians document shifts in beliefs and values in different eras of accounting activities. And with it may come a focus on such ‘webs of meanings’ (Geertz) to better understand the drivers to events. From this aspect, there is a method in historical studies: the Cultural turn of history’ which asks not: How it really was? But how was it for him or her or them? This study examines the extent to which the ‘cultural turn of history’ or the Cultural Theory of History has been reflected in, and impacted on, accounting history scholarship, and then asks the question: have accounting historians adequately examined shared belief systems when we work on historical traces of accounting towards the ‘remaking of past worlds’? In order to answer this question, this study undertakes an analysis of accounting history scholarship, examining reflections of the Cultural theory of history in recent scholarship, by examining the papers offered at this conference in 2009. The study concludes with discussion, further research potential in this area, and limitations.
{"title":"The Cultural Theory of (Accounting) History","authors":"R. Baskerville","doi":"10.2139/ssrn.1634474","DOIUrl":"https://doi.org/10.2139/ssrn.1634474","url":null,"abstract":"Abstract In “ Culture: the Anthropologist's Account” (1999) Adam Kuper advised avoidance of the use of the word ‘culture’ at all. It has come to denote too much and has now come to mean too little. However, just as “the history of all cultures is the history of cultural borrowing” (Edward Said, 1994), the same can be said of accounting history. It is not purported that the vestiges of accounting activities and practices we can study are independent of erratic but inevitable stimuli from other jurisdictions and colonial movements. Instead, many and multiple borrowings occur, in technology, professionalization, auditing and other core areas of accounting. At the same time accounting historians document shifts in beliefs and values in different eras of accounting activities. And with it may come a focus on such ‘webs of meanings’ (Geertz) to better understand the drivers to events. From this aspect, there is a method in historical studies: the Cultural turn of history’ which asks not: How it really was? But how was it for him or her or them? This study examines the extent to which the ‘cultural turn of history’ or the Cultural Theory of History has been reflected in, and impacted on, accounting history scholarship, and then asks the question: have accounting historians adequately examined shared belief systems when we work on historical traces of accounting towards the ‘remaking of past worlds’? In order to answer this question, this study undertakes an analysis of accounting history scholarship, examining reflections of the Cultural theory of history in recent scholarship, by examining the papers offered at this conference in 2009. The study concludes with discussion, further research potential in this area, and limitations.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"334 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115888076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Oystein Gjerde, Kjell Henry Knivsflå, Frode Saettem
We test the value relevance of financial statements in Norway over the 40 years before IFRS were introduced. An improved association between financial reporting and value creation enhances decision making and control. We find that the time trend of overall value relevance has increased significantly after controlling for changes in economic value relevance drivers. Neither the value relevance of the balance sheet nor the income statement has declined over time. The latter is surprising compared to previous studies, particularly on U.S. data. The most significant event is the Accounting Act of 1998. The contributions of other major accounting events are typically found to be positive, although their significance is less evident. Most importantly, our results suggest that performance accounting based on the matching principle is not necessarily in conflict with highly value relevant financial reporting.
{"title":"The Value Relevance of Financial Reporting in Norway 1965-2004","authors":"Oystein Gjerde, Kjell Henry Knivsflå, Frode Saettem","doi":"10.2139/ssrn.962051","DOIUrl":"https://doi.org/10.2139/ssrn.962051","url":null,"abstract":"We test the value relevance of financial statements in Norway over the 40 years before IFRS were introduced. An improved association between financial reporting and value creation enhances decision making and control. We find that the time trend of overall value relevance has increased significantly after controlling for changes in economic value relevance drivers. Neither the value relevance of the balance sheet nor the income statement has declined over time. The latter is surprising compared to previous studies, particularly on U.S. data. The most significant event is the Accounting Act of 1998. The contributions of other major accounting events are typically found to be positive, although their significance is less evident. Most importantly, our results suggest that performance accounting based on the matching principle is not necessarily in conflict with highly value relevant financial reporting.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126428658","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose - This paper examines the accounting development process and the relevance of International Financial Reporting Standards (IFRS) in Small Island Economies (SIEs) with particular reference to Mauritius. SIEs are different from large economies in terms of economic and political dependence, colonial influences, international pressures, as well as vulnerability to natural shocks.Design/methodology/approach - This paper uses (i) Briston’s Accounting Evolutionary Theory (BAET) (1978) and (ii) the Transcendental Stage of Accounting Development (TASD) proposed by Boolaky (2004) to explain the different stages of accounting development in Mauritius. Five factors influencing IFRS relevance (colonisation, regulation, accounting education, capital market and global business) are considered. Global business is for the first time brought into accounting literature to discuss the relevance of IFRS in small island jurisdictions.Findings - Mauritius has experienced little difficulty compared to other countries in the African region such as Madagascar, Mozambique, Angola, Swaziland etc. in its accounting development process because (i) it is used to the Anglo-Saxon accounting system, (ii) has adopted the phase-by-phase development process, (iii) has an adequate supply of professionally qualified accountants and (iv) made IFRS compliance mandatory in 2001 through the revised Companies Act 2001 and through the revision of other related legislations. As regards IFRS relevance, Mauritius has a conducive legal, political, business and economic environment to sustain IFRS.Implications - This study has applied BAET to examine accounting development from basic book-keeping to IFRS adoption in Mauritius. It also explains that there is a transcendental stage of accounting development which BAET has not taken into consideration.Originality - There is no previous study which has used BAET and TASD to examine accounting development and IFRS relevance in small island jurisdictions. This paper, therefore, provides a basis for future research in similar jurisdictions
{"title":"Accounting Development and the Relevance of International Financial Reporting Standards in the Context of Small Island Economies - Using Briston’s Theoretical Foundation in the Context of Mauritius (1960-2008)","authors":"Pran Boolaky","doi":"10.2139/ssrn.1596449","DOIUrl":"https://doi.org/10.2139/ssrn.1596449","url":null,"abstract":"Purpose - This paper examines the accounting development process and the relevance of International Financial Reporting Standards (IFRS) in Small Island Economies (SIEs) with particular reference to Mauritius. SIEs are different from large economies in terms of economic and political dependence, colonial influences, international pressures, as well as vulnerability to natural shocks.Design/methodology/approach - This paper uses (i) Briston’s Accounting Evolutionary Theory (BAET) (1978) and (ii) the Transcendental Stage of Accounting Development (TASD) proposed by Boolaky (2004) to explain the different stages of accounting development in Mauritius. Five factors influencing IFRS relevance (colonisation, regulation, accounting education, capital market and global business) are considered. Global business is for the first time brought into accounting literature to discuss the relevance of IFRS in small island jurisdictions.Findings - Mauritius has experienced little difficulty compared to other countries in the African region such as Madagascar, Mozambique, Angola, Swaziland etc. in its accounting development process because (i) it is used to the Anglo-Saxon accounting system, (ii) has adopted the phase-by-phase development process, (iii) has an adequate supply of professionally qualified accountants and (iv) made IFRS compliance mandatory in 2001 through the revised Companies Act 2001 and through the revision of other related legislations. As regards IFRS relevance, Mauritius has a conducive legal, political, business and economic environment to sustain IFRS.Implications - This study has applied BAET to examine accounting development from basic book-keeping to IFRS adoption in Mauritius. It also explains that there is a transcendental stage of accounting development which BAET has not taken into consideration.Originality - There is no previous study which has used BAET and TASD to examine accounting development and IFRS relevance in small island jurisdictions. This paper, therefore, provides a basis for future research in similar jurisdictions","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133022102","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, we provide a brief overview of U.S. tax policy in relation to other OECD countries and also in some cases, in relation to world averages. The U.S. tax code emerges in our analysis is exceptional in many regards. Most countries have gradually moved toward collecting a large share of their revenue from value added taxes. This movement has generally allowed countries to reduce income tax rates relative to the U.S. The U.S. tax code also redistributes income significantly more than most of its trading partners.
{"title":"Taxes Around the World: A Brief History of World Tax Policy, 1981-2007","authors":"K. Hassett, Aparna Mathur","doi":"10.2139/ssrn.2212987","DOIUrl":"https://doi.org/10.2139/ssrn.2212987","url":null,"abstract":"In this paper, we provide a brief overview of U.S. tax policy in relation to other OECD countries and also in some cases, in relation to world averages. The U.S. tax code emerges in our analysis is exceptional in many regards. Most countries have gradually moved toward collecting a large share of their revenue from value added taxes. This movement has generally allowed countries to reduce income tax rates relative to the U.S. The U.S. tax code also redistributes income significantly more than most of its trading partners.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125399203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2009-05-12DOI: 10.1111/j.1471-8847.2009.00322.x
Geoff Tily
This history of National Accounts in Britain is done with two specific considerations in mind. First, the role of the economist John Maynard Keynes-as theoretician, compiler, supporter and user-is addressed. This role is substantial and has been greatly misunderstood or misrepresented by a large part of the literature. Second, the pioneering contributions made at the start of the 20th century by Alfred Flux, Arthur Bowley and Josiah Stamp, and later by Colin Clark, are detailed. The debates between these men mark the emergence of National Accounts as a serious discipline. Their work was supported by the earlier theoretical contributions of Alfred Marshall, and by practical developments, in particular the instigation of a Census of Production in 1907. Taken together, the two considerations tell a good part of the story of the emergence of National Accounting on the world stage. Copyright 2009 The Author. Journal compilation International Association for Research in Income and Wealth 2009.
英国国民经济核算的历史是在考虑两个具体因素的情况下完成的。首先，论述了经济学家约翰•梅纳德•凯恩斯(John Maynard keynes)作为理论家、编纂者、支持者和使用者的角色。这一作用是实质性的，并且被很大一部分文献所误解或歪曲。其次，详细介绍了20世纪初阿尔弗雷德·弗莱克斯、阿瑟·鲍利和约西亚·斯坦普以及后来的科林·克拉克所作的开创性贡献。两人之间的争论标志着国民经济核算作为一门严肃学科的出现。他们的工作得到了阿尔弗雷德·马歇尔(Alfred Marshall)早期理论贡献的支持，也得到了实践发展的支持，尤其是1907年的生产普查(Census of Production)。综上所述，这两种考虑在很大程度上说明了国民核算在世界舞台上出现的原因。版权所有2009作者。2009年国际收入与财富研究协会期刊汇编。
{"title":"John Maynard Keynes and the Development of National Accounts in Britain, 1895-1941","authors":"Geoff Tily","doi":"10.1111/j.1471-8847.2009.00322.x","DOIUrl":"https://doi.org/10.1111/j.1471-8847.2009.00322.x","url":null,"abstract":"This history of National Accounts in Britain is done with two specific considerations in mind. First, the role of the economist John Maynard Keynes-as theoretician, compiler, supporter and user-is addressed. This role is substantial and has been greatly misunderstood or misrepresented by a large part of the literature. Second, the pioneering contributions made at the start of the 20th century by Alfred Flux, Arthur Bowley and Josiah Stamp, and later by Colin Clark, are detailed. The debates between these men mark the emergence of National Accounts as a serious discipline. Their work was supported by the earlier theoretical contributions of Alfred Marshall, and by practical developments, in particular the instigation of a Census of Production in 1907. Taken together, the two considerations tell a good part of the story of the emergence of National Accounting on the world stage. Copyright 2009 The Author. Journal compilation International Association for Research in Income and Wealth 2009.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125527647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose - The purpose of this paper is report the importance of research publications for the tenure promotion and for faculty in accounting, finance, and information system (IS) areas, developing valid criteria for the assessment of quality in related journals is necessary. Design/methodology/approach - Existing rankings are usually based on a survey among faculty members, while ignoring the chairs' critical role in tenure evaluation. This paper uses department chairs' responses to a survey asking to assess relative journal quality, and hence provides quantitative standards to measure research productivity. The rankings are primarily obtained by the familiarity-rank position index method. Different sets of rankings for the decision-makers in universities, with various requirements for research are provide. Findings - It is found that the rankings in accounting and finance areas are consistent with the prior research, but the rankings in the IS have changed significantly. This difference to the rapid growth in the field of IS is attributed. The robustness check also corroborates the ranking lists. Originality/value - In addition, this paper reports not only a comprehensive ranking list including most journals in accounting, finance, and IS areas, but also separate rankings in each field.
{"title":"Rankings of Academic Journals in Accounting, Finance and Information System: Perception from the College Chairpersons","authors":"Ji Wu, Q. Hao, M. Y. Yao","doi":"10.2139/ssrn.2303620","DOIUrl":"https://doi.org/10.2139/ssrn.2303620","url":null,"abstract":"Purpose - The purpose of this paper is report the importance of research publications for the tenure promotion and for faculty in accounting, finance, and information system (IS) areas, developing valid criteria for the assessment of quality in related journals is necessary. Design/methodology/approach - Existing rankings are usually based on a survey among faculty members, while ignoring the chairs' critical role in tenure evaluation. This paper uses department chairs' responses to a survey asking to assess relative journal quality, and hence provides quantitative standards to measure research productivity. The rankings are primarily obtained by the familiarity-rank position index method. Different sets of rankings for the decision-makers in universities, with various requirements for research are provide. Findings - It is found that the rankings in accounting and finance areas are consistent with the prior research, but the rankings in the IS have changed significantly. This difference to the rapid growth in the field of IS is attributed. The robustness check also corroborates the ranking lists. Originality/value - In addition, this paper reports not only a comprehensive ranking list including most journals in accounting, finance, and IS areas, but also separate rankings in each field.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125004436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The prolific authors identified in this study are truly remarkable: 626 prolific authors in five leading accounting journals and 620 prolific authors in twenty five core accounting journals examined. These authors demonstrate great durability in navigating the vagaries of referees and the demands of editors. They represent a small minority of thousands of authors during the half century 1959 to 2008. Besides satisfying a natural curiosity of who the prolific authors are, examination of extreme performance provides perspective on research productivity in accounting, as do the reported distributional statistics. The findings help in the formation of realistic expectations about scholarly work.
{"title":"Most Prolific Authors in the Accounting Literature Over the Past Half-Century: 1959-2008","authors":"J. Heck","doi":"10.2139/SSRN.1344072","DOIUrl":"https://doi.org/10.2139/SSRN.1344072","url":null,"abstract":"The prolific authors identified in this study are truly remarkable: 626 prolific authors in five leading accounting journals and 620 prolific authors in twenty five core accounting journals examined. These authors demonstrate great durability in navigating the vagaries of referees and the demands of editors. They represent a small minority of thousands of authors during the half century 1959 to 2008. Besides satisfying a natural curiosity of who the prolific authors are, examination of extreme performance provides perspective on research productivity in accounting, as do the reported distributional statistics. The findings help in the formation of realistic expectations about scholarly work.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132973196","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Many business operations place within the context of a group structure that involves many interrelated companies and entities. This Standard prescribes the accounting treatment for business combination's where control is established. The prime objective of IFRS 3 is to specific the relevant accounting treatment for all business combination's acquired, regardless of how control is achieved.
{"title":"The Accouting Treatament of Business Combination in Globalisation Process","authors":"A. Iosif, A. Hlaciuc, M. Socoliuc","doi":"10.2139/ssrn.1326014","DOIUrl":"https://doi.org/10.2139/ssrn.1326014","url":null,"abstract":"Many business operations place within the context of a group structure that involves many interrelated companies and entities. This Standard prescribes the accounting treatment for business combination's where control is established. The prime objective of IFRS 3 is to specific the relevant accounting treatment for all business combination's acquired, regardless of how control is achieved.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125073367","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper first restates the lessons to be learned from Richard Musgrave’s pioneering discussion of the tax assignment issue. Next, it considers subsequent developments in the theory of fiscal federalism related to the issue of tax assignment. Surprisingly little clear guidance is offered by the theoretical discussion when it comes to the practical policy issues facing any country with respect to tax assignment: what countries do seems to bear little relation to what theory suggests they should do. This point is illustrated this point by a brief review of tax assignments observed around the world in large emerging countries. The tax assignment issue in such countries as India and China is both important and unduly neglected: for the most part, these are still countries in search (whether they know it or not) for a sustainable solution to this problem. The paper concludes with some reflections about what seem to be future possible -- or, perhaps better, needed -- developments with respect to both the theory and practice of tax assignment, again with special reference to large emerging countries.
{"title":"Tax Assignment Revisited","authors":"R. Bird","doi":"10.2139/ssrn.1273810","DOIUrl":"https://doi.org/10.2139/ssrn.1273810","url":null,"abstract":"This paper first restates the lessons to be learned from Richard Musgrave’s pioneering discussion of the tax assignment issue. Next, it considers subsequent developments in the theory of fiscal federalism related to the issue of tax assignment. Surprisingly little clear guidance is offered by the theoretical discussion when it comes to the practical policy issues facing any country with respect to tax assignment: what countries do seems to bear little relation to what theory suggests they should do. This point is illustrated this point by a brief review of tax assignments observed around the world in large emerging countries. The tax assignment issue in such countries as India and China is both important and unduly neglected: for the most part, these are still countries in search (whether they know it or not) for a sustainable solution to this problem. The paper concludes with some reflections about what seem to be future possible -- or, perhaps better, needed -- developments with respect to both the theory and practice of tax assignment, again with special reference to large emerging countries.","PeriodicalId":123337,"journal":{"name":"History of Accounting eJournal","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124864409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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