Sprouse & Moonitz Quantification Assignment



Sprouse & Moonitz Quantification Assignment

Introduction

The efforts made by the formal institutions for the development of a conceptual framework for organizations in United States can be witnessed back since 1940 when Paton & Littleton published “An Introduction to Corporate Accounting Standards”. The significant contribution was made by the Sprouse & Moonitz in 1962-1963 by conducting two Accounting Research Studies (Zeff, 1999). Later on, American Accounting Association (AAA) drafted “decision-usefulness approach” report in the year of 1966. An extensive study on the similar drafted report was further conducted by the American Institute of Certified Public Accountant's True ...