Business Fluctuations And Financial Accounting Measurement: Historical Comments
This paper addresses a theme in an historical setting that financial accounting measurement contributes to: (1) retardation of national economic growth by the failure of financial accounting to provide for the replacement of capital goods in its measurement process; and (2) the business cycle owing to the illusory profits reported in financial statements. The author explores the issues and concludes that the arguments against accounting are based upon misunderstandings.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Raymond W. Goldsmith, 1950. "Measuring National Wealth in a System of Social Accounting," NBER Chapters, in: Studies in Income and Wealth, pages 23-79 National Bureau of Economic Research, Inc.
- Hicks, J. R., 1987. "Capital and Time: A Neo-Austrian Theory," OUP Catalogue, Oxford University Press, number 9780198772866, May.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:0502006. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.