Money, Measurement and Accounting

Michael Bromwich and Christopher Noke

Chapter 8 in Reflections on Money, 1989, pp 167-190 from Palgrave Macmillan

Abstract: Abstract Accounting involves the expression of economic activity in monetary terms. Money as a unit of account provides a scale of measurement that makes it possible to assign numerals, according to the rules of accounting, to diverse activities and elements (such as sales, purchases, production, assets and liabilities) and enables us by mathematical manipulation to represent the results of these activities in terms of abstract concepts such as income and capital.

Keywords: Cash Flow; Balance Sheet; Future Cash Flow; Replacement Cost; Historical Cost (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-20458-8_8

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DOI: 10.1007/978-1-349-20458-8_8

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