Copyright 2015 Pearson Canada Inc.1 - 1Copyright 2015 Pearson Canada Inc.Copyright 2015 Pearson Canada Inc.1 - 2Financial Accounting TheorySeventh EditionWilliam R. ScottPurpose: To create an awareness and understanding of the financial reporting environment in a market economyCopyright 2015 Pearson Canada Inc.1 - 3Chapter 1IntroductionCopyright 2015 Pearson Canada Inc.1.2 Some Historical Perspective Early development Great depression of 1930s reinforced historical cost accounting Alternatives t
