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The possibilities of convergence of an economic and an accounting concept of income
[Možnosti sbližování ekonomického zisku a účetního výsledku hospodaření]

Author

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  • David Procházka

Abstract

The exposition is aimed to define basic economic category which is profit (income). This element is a subject of the theoretical research in the accounting, too. Firstly, the contribution refers to some characteristics of economic concept of income. Then, I expound the accounting point of view, especially in mutual relations to various concepts of value, capital and income. I delineate two theoretical concepts of accounting profit - realizable profit and business profit. In the last part, there is an analysis of profit as it is specified in the Conceptual Framework to International Financial Reporting Standards.

Suggested Citation

  • David Procházka, 2006. "The possibilities of convergence of an economic and an accounting concept of income [Možnosti sbližování ekonomického zisku a účetního výsledku hospodaření]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2006(1), pages 30-49.
    • Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:1:id:117:p:30-49
    DOI: 10.18267/j.cfuc.117
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    More about this item

    Keywords

    Value; Capital; Income; Realizable profit; Business profit; IFRS; Hodnota; Kapitál; Důchod; Realizovatelný zisk; Podnikatelský zisk;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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