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Functions of accounting -- a discussion

Listed author(s):
  • Mellemvik, Frode
  • Monsen, Norvald
  • Olson, Olov
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    From the many accounting objectives which have been suggested, it seems that the intended function of accounting is to reduce uncertainty in control and decision-making processes. However, after conducting a literature search of empirical studies of accounting in action we came to three conclusions about the functions assigned to accounting. First, we suggest that a number of functions are assigned to accounting in action. Second, there is a reciprocal relationship between accounting and the functions assigned to it. Third, there is a complex relationship between accounting and its context. The main function of accounting in a strong organizational context with interdependent organizations is to support legitimization processes, while the main function of accounting in a strong organization with a dependent environment is to support the organization in its exercise of power.

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    Article provided by Elsevier in its journal Scandinavian Journal of Management.

    Volume (Year): 4 (1988)
    Issue (Month): 3-4 ()
    Pages: 101-119

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    Handle: RePEc:eee:scaman:v:4:y:1988:i:3-4:p:101-119
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