SOME OBSERVATIONS ON THE FOUNDATIONS OF THE CURRENT VALUE DEBATE

Proponents of alternative accounting information production systems have, in supporting their alternative, usually demonstrated the superiority of their system conditional upon assumptions about the producers and consumers of accounting information, and in light of the lack of evidence on the issue, assumptions about the relative costs and benefits of their system.

This paper addresses the premises that are implicit in the usual arguments for one or the other form of current value accounting and reaches the general conclusion that the arguments for change are not as compelling as they may, at first glance, appear to be.