This updated Ninth Edition of Accounting Theory: Conceptual Issues in a Political and Economic Environment continues to be one of the most relevant and comprehensive texts on accounting theory. Authors Harry I. Wolk, James L. Dodd, John J. Rozycki provide a critical overview of accounting as a whole as well as touch on the financial issues in economic and political contexts, providing readers with an applied understanding of how current United States accounting standards were derived and where we might be headed in the future. Readers will find learning tools such as questions, cases, problems and writing assignments to solidify their understanding of accounting theory and gain new insights into this evolving field.

Chapter 1: An Introduction to Accounting Theory Accounting Theory and Policy Making The Role of Measurement in Accounting Plan of This Book Appendix 1-A: Valuation SystemsChapter 2: Accounting Theory and Accounting Research Accounting Research and Scientific Method Is Accounting an Art or a Science? Directions in Accounting Research A Scientific Revolution in Accounting?Chapter 3: Development of the Institutional Structure of Financial Accounting Accounting in the United States Prior to 1930 Formative Years, 1930-1946 Postwar Period, 1946-1959 Modern Period, 1959 to the PresentChapter 4: The Economics of Financial Reporting Regulation The Case for Unregulated Markets for Accounting Information The Case for Regulated Markets for Accounting Information Imperfections of Accounting Regulation The Regulatory Process Economic Consequences of Accounting PolicyChapter 5: Postulates, Principles, and Concepts Postulates and Principles Basic Concepts Underlying Historical Costing Equity Theories Appendix 5-A: The Basic Postulates of Accounting (ARS 1) Appendix 5-B: A Tentative Set of Broad Accounting Principles for Business Enterprises (ARS 3)Chapter 6: The Search for Objectives ASOBAT APB Statement 4 The Trueblood Committee Report SATTA User Objectives and User DiversityChapter 7: The FASB's Conceptual Framework The FASB's Conceptual Framework The Conceptual Framework as a Codificational Document Empirical Research on the Conceptual Framework Assessing the Conceptual FrameworkChapter 8: Usefulness of Accounting Information to Investors and Creditors Earnings, Dividends, and Stock Prices Residual Income Models Background on Risk and Return Introduction to Capital Markets Research in Accounting The Value of Accounting Information: Evidence From Return Data The Value of Accounting Information: Evidence From Direct Valuation Accounting Data and Creditors Importance of Earnings Forecasting Empirical Research and Standard SettingChapter 9: Uniformity and Disclosure: Some Policy-Making Directions What Underlies the Choice Among Accounting Methods? Uniformity The Usefulness of Accounting Allocations Disclosure Improving Accounting StandardsChapter 10: International Accounting National Accounting Differences International Harmonization of Accounting StandardsChapter 11: The Balance Sheet The Relationship Between the Balance Sheet and the Income Statement Assets Liabilities Owners¿ Equity Financial Instruments Classification in the Balance Sheet Appendix 11-A: A Simple Example of a Weather DerivativeChapter 12: The Income Statement Income Definitions Revenues and Gains Expenses and Losses Future Events and Accounting Recognition Current Operating Versus All-Inclusive Income Nonoperating Sections Earnings per Share Special Subjects Concerning Income Measurement Earnings Management Income Statement DevelopmentsChapter 13: Statement of Cash Flows The Statement of Changes in Financial Position The Motivation for a Cash Flow Statement Requirements of the Cash Flow Statement Classification Problems of SFAS No. 95 Analytical Usefulness of the Cash Flow Statement Cash and Funds Flow Research Improving the SCFChapter 14: Income Taxes and Financial Accounting Income Tax Allocation The Asset-Liability Orientation of SFAS No. 109 Empirical Research on Income Tax Allocation International Accounting Standards (IAS) Improving Accounting StandardsChapter 15: Pensions and Other Postretirement Benefits Overview of Pension Plans Development of Pension Accounting Standards Postretirement Benefits Other Than Pensions International Accounting Standards (IAS) Improving Accounting Standards Appendix 16-A: Illustration of Pension Expense Determination and Actuarial Funding MethodsChapter 16: Leases The Lease Contract The Evolution of Lease Accounting Standards FASB and IASB Joint Exposure Draft on Accounting for Leases Improving Accounting StandardsChapter 17: Intercorporate Equity Investments Relevant Circumstances Consolidation The Equity Method The Fair Value Method Defining the Reporting Entity Translation of Foreign Operations IASB Standards Improving Accounting Standards Appendix 17-A: Special Purpose Entities, Variable Interest Entities, and the Downfall of Enron