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Opportunity lost? Chances for cost accountants' professionalization under the National Industrial Recovery Act of 1933

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  • Richard Fleischman
  • Thomas Tyson

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.

Suggested Citation

  • Richard Fleischman & Thomas Tyson, 1999. "Opportunity lost? Chances for cost accountants' professionalization under the National Industrial Recovery Act of 1933," Accounting History Review, Taylor & Francis Journals, vol. 9(1), pages 51-75.
    • Handle: RePEc:taf:acbsfi:v:9:y:1999:i:1:p:51-75
    DOI: 10.1080/095852099330368
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    Cited by:

    1. Martin Quinn & Desmond Gibney, 2018. "Accounting at an Irish maltster – the accounting practices of Bennetts of Ballinacurra in the 1920s and 1930s," Accounting History Review, Taylor & Francis Journals, vol. 28(1-2), pages 61-84, May.

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