Title

Convergence of economic and accounting concepts of income.

SelectedWorks Author Profiles:

James A. Fellows

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

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.

Language

en_US

Publisher

Clute Institute for Academic Research

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.