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Federal Financial Reporting: Some views of R.K. Mautz
Author(s) -
Phaup Marvin
Publication year - 1990
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00858
Subject(s) - accounting , accounting standard , financial accounting , business , government (linguistics) , accounting management , finance , accounting information system , economics , linguistics , philosophy
A number of proposals would apply Generally Accepted Accounting Principles (GAAP), as developed for reporting the financial performance of for‐profits, to federal financial reporting and budget accounting. Critics of these proposals include R.K. Mautz, a distinguished professor of accountancy. This article summarizes some of Mautz's conceptual objections to the use of private GAAP by not‐for‐profits and indicates his preferred approach to improved financial reporting by government.