Faculty News
Professor Baruch Lev discusses the need for updated accounting standards, from his forthcoming book, "The End of Accounting"
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Excerpt from Barron's -- "[Lev's] contention is that generally accepted accounting principles, or GAAP, have lost their relevance over the last 40 years. The industrial economy, he says, with its emphasis on physical assets of property, plant and equipment, and inventory levels has been supplanted by a new economy in which intangible assets like research and development, information technology, unique business franchises, and powerful brands rule the roost."
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