Disclaimer

This book is a draft proposal designed to suggest a new economic approach to accounting. This book is directly addressed at the accounting profession; they are the primary recipients and may be beneficiaries of the new approach. This book has not been solicited by any person or organization connected with the accounting profession. I am not an accountant, have limited knowledge of accounting, and caution the reader to keep this in mind. Any criticism of current accounting principles or practices should not be interpreted as criticism of accountants, the accounting profession, or any accounting organization, all of whom I hold in the highest regard. There may be mistakes, misinterpretations, non-standard language, mis-characterizations and other deficiencies involving current accounting theory and practice. There also may be grammatical, referential, logical and other mistakes, for which I apologize. It is hoped that the deficiencies of this book will not detract from the central purpose and message. 

This book is my sole responsibility. It represents my views, interpretations, and biases. I have not received compensation for any time or expenses incurred. I do not represent any organization or profession. I have not received direction or encouragement from any individual or organization. 

I am an actuary, but I am not acting in a professional capacity as an actuary in writing or distributing this book. I do not speak for the Society of Actuaries, the American Academy of Actuaries, or for the actuarial profession. However, the actuarial profession may be beneficiaries of the new approach. I do not represent company management, although they may also be beneficiaries of the new approach. 

The main purpose of this book is to encourage a more relevant and useful approach to accounting, especially financial reporting. The direct beneficiaries will be the shareholders. Efficient capital markets and economic strength may be indirect benefits. It is this responsibility to the general public good that is my primary motivation. It is hoped that the new approach will also benefit the accounting profession, the actuarial profession, and management. It is also hoped that the new approach will be the basis for a common set of international accounting principles and practices.

Copyright © 1998 by Humphrey Nash

All rights reserved, including the right to reproduce this book or any portion thereof in any form. Request for such permission should be addressed to:

Humphrey Nash, 330 Freeman Circle, Norcross GA 30071 Phone (770) 447-1941