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Measurement/Valuation‐Related Interpretations Of Fundamental Accounting Concepts

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  • Don W. Vickrey

Abstract

The goal of this article is to perform a necessary step in reconciling the measurement/valuation and information‐economics perspectives on accounting information. Thus, it identifies the financial‐accounting systems that can be interpreted using the language of measurement/valuation ‐ the current‐exit‐value system and a reformulated version of the current‐replacement‐cost system. In accomplishing its objective, the article provides, as far as possible, measure‐mendvaluation‐related interpretations of the concepts which logically are fundamental with respect to the current‐exit‐value, current‐replacement‐cost, and historical‐cost systems. The concepts that are considered for interpretation are total assets, total liabilities, total capital, capital maintenance, net income, and financial position.

Suggested Citation

  • Don W. Vickrey, 1994. "Measurement/Valuation‐Related Interpretations Of Fundamental Accounting Concepts," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 21(8), pages 1097-1110, December.
    • Handle: RePEc:bla:jbfnac:v:21:y:1994:i:8:p:1097-1110
    DOI: 10.1111/j.1468-5957.1994.tb00366.x
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