...Stephen A. Zeff ABSTRACT The aim of this article is to bring to light and discuss the many and diverse impacts of the federal income tax law on generally accepted accounting principles (GAAP). Such an analysis can provide accounting academics, practitioners, and standard setters with a broader...

...Stephen A. Zeff ABSTRACT The aim of this historical account is to set forth the background behind the three petitions that Arthur Andersen & Co. submitted to the Securities and Exchange Commission (SEC) between 1954 and 1965—two rejected and one accepted—to reform GAAP for SEC registrants...

... crash and the ensuing Great Depression ( Hoxsey 1930 ). In the absence of strict GAAP, companies wrote up their assets, enhancing the attractiveness of their balance sheets, but reflecting little or no earning power. Hence, conservatism became a reaction to abuses in voluntary financial reporting...