Evolution of the Institute of Accounting

Oleh Kantsurov ()
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Oleh Kantsurov: Kyiv National Economic University named after Vadym Hetman

Oblik i finansi, 2014, issue 3, 42-46

Abstract: The Article addresses the history of the development of accounting as a social and economic institute and definition of periodization of its development. It is noted that the formation of institutional models of accounting took place from informal regulation to establishment of formal rules and enforcement mechanisms to implement these rules. Suggested is a periodization of accounting based on formation of the institute. In particular, isolated are: 1) pre-institutional period during which there is no social need for institutionalization due to individual interest to economic information; 2) primary institutionalization – dominating are informal rules, the institute is localized to an individual economic unit; 3) national institutionalization - accounting gains social value, institutionalization based on formal adoption of national rules takes place; 4) global institutionalization - the integration of accounting in the international economic system and adaptation to global institutional environment.

Keywords: accounting; social and economic institution; institutionalism; history; periodization of development (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2014
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