Objectivity of Account Data

Abstract

Current prices, future estimates, and price statistics cannot reflect specific transaction experience generated by enterprise management. Instead, overt transaction data in accounts continue to constitute evidence of management decision-actions, even after apportioned among fiscal periods. And the interrelation of enterprise capital employed productively, and the income generated by its use, will continue whether or not accounts are kept. Yet, the significance of factual integrity for enterprise transaction experience is strongly influenced by the functional logic inherent in accounting.

Citation

(2016), "Objectivity of Account Data", A. C. Littleton’s Final Thoughts on Accounting: A Collection of Unpublished Essays (Studies in the Development of Accounting Thought, Vol. 20), Emerald Group Publishing Limited, Leeds, pp. 139-150. https://doi.org/10.1108/S1479-350420160000020037