Why Democrats' Scheme to Tax Unrealized Capital Gains Should Terrify You

The accountants told them, that is because we adhere to the historical cost principle of accounting.

You could first put it in a temporary income account, but it will, at the end of the accounting period, end up in retained earnings.

Much of what you read states issues all around accounting problems without actually calling them accounting irregularities.

Each of these cases was the result of "Creative accounting." Creative accounting can be defined in a word: fraud.

There are no courses in creative accounting - in fact, the objective of the practice of accounting is to be as open and revealing as possible so decisions can be made on factual and accurate data.

The causes of those accounting scandals were due to abandoning Generally Accepted Accounting Principles.

Corporate executives often think they can make a corporation better off financially by bending or breaking the rules of accounting.

https://www.americanthinker.com/articles/2021/10/why_democrats_scheme_to_tax_unrealized_capital_gains_should_terrify_you.html