摘要:

The cartularies of the Commune of Genoa of 1340–1466 provide evidence of the use of double‐entry bookkeeping long before it was described by Pacioli. The cartularies are of particular interest because they relate to a commune, and had been prescribed in regulations dating from 1327. In the ledgers of themassaria, the two sections of the accounts are divided laterally, erasures were forbidden, and all pages were pre‐numbered. There is also evidence suggesting that these techniques were adopted from the methods used by the banks at that time. The importance of these early methods of bookkeeping and financial control has not previously been recog

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1983.tb00242.x

出版商:Blackwell Publishing Ltd    

年代:1983

数据来源: WILEY

摘要:

Income has been defined by Beaver and Demski (1979) as a fundamental measurement which will give a unanimous ranking of alternative production plans. This notion of income has been examined in a variety of settings running from that of certainty with perfect and complete markets to uncertainty and incomplete markets. Such analysis shows that income cannot necessarily be determined and therefore may not be useful, in a setting of incomplete markets. In this paper the same kind of analysis is applied to wealth and it is shown that a measure of wealth provides information which is useful for all financial decisions, in the sense that decision‐makers would prefer to base their decisions on the information rather than act without it. In making this suggestion, a notion of accounting information is proposed which does not suffer from the intransitivity or indeterminancy associated with income in some settings. This alternative information concept satisfies the requirement for a fundamental measurement. It also provides an example of the type of information that Beaver and Demski, in the latter part of their article, seem to encourage for incomplete market

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1983.tb00243.x

出版商:Blackwell Publishing Ltd    

年代:1983

数据来源: WILEY

摘要:

Research attempting to explain or predict preferences with respect to accounting rules is a relatively new branch of accounting research. Factors affecting a manager's welfare (e.g., political costs) are identified and then evaluated empirically to ascertain whether such factors are helpful in predicting a manager's decision to respond to proposed changes in the Financial Accounting Standards Board's (FASB's) rules on foreign currency translation. FASB Statement No. 52, issued December 1981, replaced FASB Statement No. 8 and required U.S. multinational corporations to switch from the ‘temporal’ to the ‘current rate’ method of translating foreign currency financial statements into U.S. dollars. The models use current economic data as well as information about managers' responses to earlier changes in the rules for translating foreign currency statements. While the models adequately describe management's behaviour, and hence are consistent with earlier research, their predictive ability is only a modest improvement over naive predictio

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1983.tb00244.x

出版商:Blackwell Publishing Ltd    

年代:1983

数据来源: WILEY

摘要:

Ball, Walker and Whittred (1979) reported that companies receiving audit qualifications for non‐compliance with the requirement to depreciate buildings earned higher than expected returns at the time of the release of the qualification. This paper examines the possibility that this result could be due to cash‐flow effects related to the decision not to comply with the depreciation requirement. The results generally support the view that there are cash‐flow effects associated with a company's decision not to depreciate buil

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1983.tb00245.x

出版商:Blackwell Publishing Ltd    

年代:1983

数据来源: WILEY

摘要:

This article uses a well‐known model of economics to examine the validity of replacement cost asset measures based on the value to the owner theory for external accounting reports in an environment of imperfect markets. The value to the owner model which uses ‘opportunity value’ reasoning is found to have validity in only a few market environments. Some problems concerning the applicability of replacement cost asset measures, where these are founded on value to the owner reasoning, are disc

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1983.tb00246.x

出版商:Blackwell Publishing Ltd    

年代:1983

数据来源: WILEY

摘要:

This paper seeks to explain why the net present value profiles of investment projects may intersect with changes in the interest rate. Previous explanations have pointed to differences in the timing of the projects' cash flows. However, the timing of a project's cash flows has not been defined in the literature and the relative timing of projects' cash flows typically is illustrated by a simplistic example. We make use of the projects' durations to specify timing differences and provide a more explicit analysis of the role of timing differences in the intersection of present value profiles of projects.

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1983.tb00247.x

出版商:Blackwell Publishing Ltd    

年代:1983

数据来源: WILEY

摘要:

Professional accounting prescriptions in the U.S.A., U.K. and Australia suggest cost indexation as a method of approximating the replacement cost of inventories. The behaviour of prices quoted by over ninety steel producing companies in the U.S.A. for ten product groups (thirty‐eight product grades) over the period 1968–77 is examined to determine the appropriateness of using aggregative revaluation procedures within the context of financial statement preparation. The evidence adduced suggests that the use of price indexes to obtain the replacement cost of inventories may distort the financial statements of companies whose inventories do not tally with the regimen of the index. Further, the investigation shows that the problems arising from the use of replacement cost do not arise with the use of selling prices. Reliable selling price data are readily available for a wide range of steel inventories on an up‐to‐date basis, in both domestic and international markets. Not only can selling price data for steel inventories be obtained with reasonable ease compared with the complexities of index‐based valuation procedures, but they are more precise

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1983.tb00248.x

出版商:Blackwell Publishing Ltd    

年代:1983

数据来源: WILEY