In November 2003, fifty-seven specialists in accounting and accounting policy participated in a three-day discussion on the future of the accounting industry. The result of this discussion was broad agreement that major changes were necessary in what accountants are asked to certify and in the public perception of financial statements...

The value-added tax is an old idea in tax policy that, despite periodic consideration, has not been adopted in the United States.

Rather than colluding to maintain the corporate income tax, countries should switch to better-designed revenue sources.

The Enron scandal has raised questions about the quality of the Generally Accepted Accounting Principles (GAAP) that are at the foundation of the accounting system in use in the United States. Meanwhile, the SEC’s insistence that GAAP is superior to the International Accounting Standards (IAS) used in Europe...

Amtrak subsidies have risen one-third since the Republicans took the House of Representatives; itis time for the federal government to stop subsidizing Amtrak.

Businesses don't pay taxes. People pay taxes. And the evidence suggests the corporate tax hits wage earners hard.

The Federal Accounting Standards Board has tried to make accounting into an exact science. It has failed, and will never succeed.

Coalition Provisional Authority administrator L. Paul Bremer has embarked on a policy which is as damaging inIraq as the Abu Ghraib scandal.