The Possible Weakening of Financial Accounting from Tax Reforms
<jats:title>ABSTRACT</jats:title> <jats:p>There are past and proposed tax law changes that contain provisions that affect financial reporting. These include calls for book-tax conformity, proposals to increase the links between financial accounting and taxable incomes, and actions...
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| Format: | Article |
| Language: | English |
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American Accounting Association,
2022-08-01T15:52:14Z.
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| Subjects: | |
| Online Access: | Get fulltext |
| Summary: | <jats:title>ABSTRACT</jats:title> <jats:p>There are past and proposed tax law changes that contain provisions that affect financial reporting. These include calls for book-tax conformity, proposals to increase the links between financial accounting and taxable incomes, and actions by Congress that make direct alterations to U.S. GAAP. I submit that these tax law changes potentially threaten financial reporting quality. I discuss my concerns about why such provisions have not attracted attention from accountants to the extent they should and make a case for more awareness and more research going forward.</jats:p> |
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