Recent Developments -- Bubbles -- Approach -- Criteria -- Measurements in General -- Measurement Concepts in Financial Accounting -- The Financial Position Statement -- Recognition of Solvency in Other Countries -- Defects of the Balance Sheet -- The Solvency Statement -- Arguments against a Solvency Statement -- The Income Statement -- Equity Interest -- Other Income Statement Problems -- Statement of Changes in Equity -- Defects -- Remedy -- The Cash Flow Statement -- Defects -- Remedies -- Nonprofit Accounting -- Defects -- Remedies -- State and Local Government Accounting -- Defects -- Remedies -- Implementation -- Suggested Changes -- Organizing the Review -- Federal Accounting Standards -- Federal Accounting Standards Advisory Board -- Causes of the FASAB's Failure -- Suggested Actions -- Summary of Recommendations -- Chapter 3: The Financial Position Statement -- Chapter 4: The Income Statement -- Chapter 5: Statements of Changes in Equity -- Chapter 6: The Cash Flow Statement -- Chapter 7: Nonprofit Accounting -- Chapter 8: State and Local Government Accounting -- Chapter 9: Implementation -- Chapter 10: Federal Accounting Standards.