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Some Conceptions And Misconceptions On Reality And Assumptions In Financial Accounting

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  • Stanley C. W. Salvary

Abstract

This 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.

Suggested Citation

  • Stanley C. W. Salvary, 2005. "Some Conceptions And Misconceptions On Reality And Assumptions In Financial Accounting," Microeconomics 0502006, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpmi:0502006
    Note: Type of Document - wps; pages: 22
    as

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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mic/papers/0502/0502006.pdf
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    References listed on IDEAS

    as
    1. Hicks, J. R., 1969. "A Theory of Economic History," OUP Catalogue, Oxford University Press, number 9780198811633.
    2. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-115, March.
    3. James R. Barth, 1991. "The Great Savings and Loan Debacle," Books, American Enterprise Institute, number 918256, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic reality; audit opinion; Savings and Loan Associations; aggregative analysis; planning data; simplifying assumptions; going concern; liquidating concern; realization.;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D2 - Microeconomics - - Production and Organizations
    • D3 - Microeconomics - - Distribution
    • D4 - Microeconomics - - Market Structure, Pricing, and Design

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