America's railroad depreciation debate, 1907 to 1913: a study of divergence in early 20th century accounting standards. From: Accounting Historians Journal | Date: June 1, 2006| Author: Heier, Jan R. | COPYRIGHT 2006 Academy of Accounting Historians. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Abstract: In June 1907, the Interstate Commerce Commission (ICC) released new reporting rules that would require railroads to change from betterment to depreciation accounting for equipment. The new rules set off a firestorm of protest because the railroads felt they were already recognizing physical depreciation through the current system. The ICC, however, was looking at the concept of economic depreciation to match the cost of equipment with revenue over the life of the asset in ...

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