Accounting and Economic Theory
AbstractThis paper deals with the changing relationship between economic theory and accounting practice and theory. It argues that many of the basic problems encountered in practice cannot be avoided in any attempt to construct an economic theory adequate to handle dynamics. In particular problems of timing become critical. furthermore, there are several critical problems concerning profit maximization, the nature of the rate of interest, agency problems within the firm and the payment of dividends which cannot be dealt with unless there is an adequate reconciliation of accounting and economic theory.
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Bibliographic InfoPaper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm314.
Date of creation: 21 Jan 2003
Date of revision:
Find related papers by JEL classification:
- A10 - General Economics and Teaching - - General Economics - - - General
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- M40 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - General
This paper has been announced in the following NEP Reports:
- NEP-ACC-2004-07-18 (Accounting & Auditing)
- NEP-ALL-2004-07-18 (All new papers)
- NEP-HIS-2004-07-18 (Business, Economic & Financial History)
- NEP-HPE-2004-07-20 (History & Philosophy of Economics)
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