Abstract
The passage in June 1933 of the National Industrial Recovery Act (NIRA) heralded an opportunity for the cost-accounting branch of the profession in the US to play a prominent role in the endeavour to revitalize the national economy. This early New Deal legislation sought to end unfair and destructive competition by authorizing industry-based codes which typically contained uniform methods of cost accounting and cost-based floors for pricing. For the first time on a broad scale, unregulated companies were required to maintain and utilize cost accounts. Many thought that a golden age of cost accountancy had arrived. However, the demise of the NIRA by 1935 left these expectations totally unfulfilled. Any opportunity for cost accountants to achieve a professional status commensurate with that of their financial accounting brethren had quickly dissipated.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
