A Segregated System of Funds and Value Accounting

R. A. Rayman

Chapter 10 in A Multi-Gear Strategy for Economic Recovery, 2013, pp 97-114 from Palgrave Macmillan

Abstract: Abstract The conventional system of accounting is criticised in chapter 3 of the previous volume as a “hybrid” system. Whether they are based on historical costs or current “fair” market values, the figures in the conventional profit and loss account and balance sheet are often an unidentifiable mixture of fact (objective records of transactions) and opinion (subjective allocations of cost or value).

Keywords: Corporate Governance; Balance Sheet; International Financial Reporting Standard; Equity Capital; Investment Rate (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-30452-0_10

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DOI: 10.1057/9781137304520_10

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