Basic Postulates of Accounting ^☆

Abstract

This well-planned research is in tune with the times. ¹ Five of the postulates are called imperatives. They are indeed persuasive objectives. The remaining postulates deal with means for attaining those goals. Another word for postulate is assumption. Both words refer to ideas that we cannot know as facts of business life, and yet are needed as a basis for discussing accounting principles. Perhaps, therefore, they may be considered as compact verbalizations of basic concepts serving as foundational stones beneath accounting technology.

Citation

(2016), "Basic Postulates of Accounting ^☆ ", A. C. Littleton’s Final Thoughts on Accounting: A Collection of Unpublished Essays (Studies in the Development of Accounting Thought, Vol. 20), Emerald Group Publishing Limited, Leeds, pp. 297-304. https://doi.org/10.1108/S1479-350420160000020054