Some Conceptions And Misconceptions On Reality And Assumptions In Financial Accounting
AbstractThis paper addresses two problematic issues arising from the importation of terms into financial accounting: (1) the nature of economic reality; and (2) the role of assumptions. These two issues have stirred a lot of controversy relating to financial accounting measurements and affect attestation reports. This paper attempts to provide conceptual clarity on these two issues.
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Bibliographic InfoPaper provided by EconWPA in its series Microeconomics with number 0502006.
Length: 22 pages
Date of creation: 21 Feb 2005
Date of revision:
Note: Type of Document - wps; pages: 22
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Economic reality; audit opinion; Savings and Loan Associations; aggregative analysis; planning data; simplifying assumptions; going concern; liquidating concern; realization.;
Find related papers by JEL classification:
- D1 - Microeconomics - - Household Behavior
- D2 - Microeconomics - - Production and Organizations
- D3 - Microeconomics - - Distribution
- D4 - Microeconomics - - Market Structure and Pricing
This paper has been announced in the following NEP Reports:
- NEP-ACC-2005-04-16 (Accounting & Auditing)
- NEP-ALL-2005-04-16 (All new papers)
- NEP-HPE-2005-04-16 (History & Philosophy of Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-15, March.
- Hicks, J. R., 1969. "A Theory of Economic History," OUP Catalogue, Oxford University Press, number 9780198811633.
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