Date of Award


Degree Type

Master's Essay - Restricted

Degree Name

Master of Business Administration (MBA)


Business Administration


As early as 1935, The Journal of Accountancy published an article by Professor Ralph Jones of Yale University entitled "Financial Statements and the Uncertain Dollar." The following year saw the publication of the now often mentioned book, Stabilized Accounting by Dr. Henry Sweeney, a New York C.P.A. It was not until after the Second World War, however, and the period of severe inflation that fol lowed, that the subject was given much attention in this country.

In 1951, a committee of the American Accounting Association recommended the use of a general price-level index in supplementary statements to present the effects of the fluctuation in the value of the dollar on net income and the company's financial position. In 1957, they modified their recommendation to encompass both adjustments for changes in the general price-level index and adjustments for specific price changes, but again relegating these adjustments to supplementary financial statements.