Loading…

THE TWILIGHT OF INCOME MEASUREMENT: TWENTY-FIVE YEARS ON

The paper reviews events and trends since 1961, when the author incautiously forecast a possible decline in the importance of income measurement. He finds that little has changed in the intervening 25 years, and the forecast has not been borne out by events. Historical cost accounting has survived a...

Full description

Saved in:
Bibliographic Details
Published in:The Accounting historians journal 1987-04, Vol.14 (1), p.1-6
Main Author: Solomons, David
Format: Article
Language:English
Subjects:
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The paper reviews events and trends since 1961, when the author incautiously forecast a possible decline in the importance of income measurement. He finds that little has changed in the intervening 25 years, and the forecast has not been borne out by events. Historical cost accounting has survived a period of serious inflation with hardly a dent. Earnings seem to be as important to financial analysts and to academic researchers as they ever were, and recent tax changes bring taxable income somewhat closer to accounting income than previously, thereby increasing the importance of the income concept rather than diminishing it.
ISSN:0148-4184
2327-4468
DOI:10.2308/0148-4184.14.1.1