Convergence of economic and accounting concepts of income.
Document Type
Article
Publication Date
1989
Date Issued
January 1989
Date Available
December 2013
ISSN
0892-7626
Abstract
One of the most disputed areas of contention between professional accountants and economic theorists is the divergence between their respective definitions of income. Generally, an economist views any accretion to net worth as income, while the accountant defines income to include only those increases in net worth that result from a realization event, i.e., a sale or exchange. Recently, however, the professional accounting community has begun an attempt to redefine its own measure of income. The following article reviews the controversy, as well as analyzing the struggle for a new measure of accounting income
Language
en_US
Publisher
Clute Institute for Academic Research
Recommended Citation
Fellows, J.A. (1989). Convergence of economic and accounting concepts of income. Journal of Applied Business Research, 5(2), 4-10.
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Comments
Abstract only. Full-text article is provided by the publisher at http://journals.cluteonline.com/index.php/JABR/article/view/6354/6432. Published in Journal of Applied Business Research, 5(2), 4-10.