Accountancy

, 5, 6, 399, 403–418

Accountants

, 7

management

, 375–379

public

, 375–379

Accounting

actions. See Accounting actions

administrative

, 190, 245–246, 251, 260, 282, 309

cash-basis

, 94

commercial

, 108

communication, functions and effects of

, 180

cost-plus

, 108

education, purpose of

, 47–55

enterprise

, 15, 18, 23, 35, 43, 83, 99–102, 384, 399, 440, 463

financial

, 202, 251, 282, 309

inner nature of

, 271–277

limitations affecting

, 99–102

managerial

, 190, 237, 439–440

method

, 169–174

mission of

, 132, 169–174, 239–248

postulates of

, 91, 297–304

practice

, 381–382

principle

, 351–356

profit and loss

, 126

as science

, 279–282

suitability of

, 191–192, 194

theory

, 3–4, 181, 381–382

as thinking tool

, 259–268

Accounting actions

, 74, 75, 81–83, 199–207, 251, 265, 285, 288, 409, 411–412

deviations in

, 130–131

exceptions in

, 130–131

structure of

, 134, 383

Accounts

bilateral

, 178–179, 187, 201, 209, 210, 212–213, 215, 240, 241, 244–245, 274, 281, 342, 420, 444, 454, 460

impersonal

, 218

nominal

, 10, 18, 87, 88, 143, 147, 149, 201, 221, 261, 267, 327, 335

real

, 10, 87, 143, 149, 201, 221, 261, 267

record experience

, 63–72

unilateral

, 240

Accretion as profit

, 282

Administrative accounting

, 190, 245–246, 251, 260, 282, 309

Advocacy of index depreciation

, 125

Allocation problems

in depreciation

, 367–374

in inventory pricing

, 359–366

Allowance

, 344

Alternative means

, 187–195

American Association of Public Accountants. See American Institute of Certified Public Accountants

American Institute of Accountants. See American Institute of Certified Public Accountants

American Institute of Certified Public Accountants (AICPA)

, 7, 19, 26, 34, 81, 227, 284, 297, 312, 321, 356

American Institute of CPAs

, 73

Analytical necessity

, 73–78, 361, 362, 367

Apportionment

, 276, 340–341, 361, 364

of asset cost

, 396

decisions, guidelines for

, 465

periodic

, 367, 395, 396

Appraisal

critical

, 262

surplus

, 19, 20

Appraising the knowns

, 159–164

Appreciation surplus

, 19, 20, 22, 314

Asset-equities

, 201

Assets

, 21, 237, 238n3

capital, maintenance of

, 118–119

depreciation

, 368

Assumption

, 193

Attest function

, 356

Audit

, 245, 398

balance sheet

, 28, 31

external

, 327

internal

, 327

verbs

, 28–29, 106, 212

Balance sheet

, 11, 274

audit

, 28, 31

equation

, 216

symbols and placement

, 433–434

Bankrupt enterprise, adjudication of

, 110

Bargained price

, 422, 423

Becoming

, 389

Bilateral accounts

, 178–179, 187, 201, 209, 210, 212–213, 215, 240, 241, 244–245, 274, 281, 342, 420, 444, 454, 460

Bookkeeping

, 9, 11, 17, 65, 75, 94, 228, 247, 280, 307, 404

double-entry

, 93, 95, 97, 207, 218–220, 224, 274, 275, 391, 429, 430–431

possessions

, 10

results

, 10

Boundaries for accounting data

, 331–338

Budgeting

, 349

Business accounting

, 121

Business enterprise

, 75, 85, 231–232

Business entity

, 84

Capital

enterprise

, 17

flow

, 202

kinds

, 18, 354

markets

, 17

sources

, 18, 354

statement

, 17, 18, 246–247

surplus

, 19, 427

Cash-basis accounting

, 94

Categories

, 136, 186, 307, 383, 459

Category integration

, 157

Certified Public Accountant

, 140

Chance variations

, 231

Charge-and-discharge reporting

, 201

Commercial accounting

, 108

Commission on Standards of Education and Experience for Certified Public Accountants

, 34

Commodity

, 145

Communication

, 235, 301, 317, 394–395, 420, 423–424

data

, 149, 157, 383

functions and effects of

, 180

Communicative power

, 430, 441–442

Companies Acts

, 167, 346, 450

Company Act of

, 1865, 398

Compelling concept

, 193–194, 289, 331, 332, 355, 362, 382

Conditioning factors and accounting, relationship between

, 400

Consequences

, 176, 267

Conservatism

, 30, 31, 298, 344, 347

Consistency

, 289–300, 298

Consummated exchange-priced transactions

, 166

Continuity

, 288–289, 298, 299

Continuum, accounting as

, 437–451

Convincing reasons

, 160, 382

Cost

allocation

, 114

historical

, 222

recoverable

, 364

Cost-or-market inventory pricing

, 338, 365–366, 465–466

Cost-plus accounting

, 108

CPA

, 227, 376, 379, 470

examination

, 15–16, 25–28, 33, 34, 58, 297, 378, 471

laws

, 7, 57–58

Credit

, 10, 212, 327, 418, 454

Custom

, 263

Data

, 237, 354–355

accuracy

, 364

boundaries for

, 331–338

communication

, 149, 157, 383

improved data significance

, 136

interpretation

, 248, 252

marshaling

, 188, 248, 275, 308

objectivity of

, 139–150

organization

, 157

quantitative

, 83, 85, 240, 241, 253, 420, 422

supplementary

, 125, 316

valuation

, 248

Debit

, 10, 212, 327, 418, 442, 454

Debt payable

, 433

Decision makers

, 353–354

Decision-making management

, 220

Deductive reasoning

, 40, 267

Deficiency account

, 397

Depreciation

, 105, 106–107, 109, 111–115, 123, 189, 276–277, 315, 361

allocation problems in

, 367–374

fixed-asset

, 352–353

general

, 11

index

, 117, 122, 124, 125

Desirability

, 177

Deviations in accounting actions

, 130–131

Digits, as meaning value

, 432

Discipline, accounting as

, 403–418

Disciplining of transaction data

, 412

Disclosure

, 298, 300

full

, 289, 312

Dividends

, 22, 356

Dollar

, 144

Double-entry bookkeeping

, 93, 95, 97, 207, 218–220, 224, 274, 275, 391, 429, 430–431

Dualism, duality

, 219, 221, 223, 224, 273, 391, 392, 430–433, 438–439, 442–443, 448–449, 459–460

Earned surplus

, 19, 22, 314

Earnings statement

, 362, 425

Economic theory of value accretion

, 118

Empiricism

, 66–67, 235

Endproducts

, 328

Ends and means

, 175–186, 210, 229, 242, 421, 458, 466

Enterprise accounting

, 15, 18, 23, 35, 43, 83, 399, 440, 463

limited function of

, 99–102, 384

Enterprise capital

, 17

Enterprise capital-income accounting

, 220, 229

Enterprise earnings

, 36, 368–369

Enterprise entity

, 75, 83, 89, 135, 136, 220, 285, 333

Enterprise existence, continuity of

, 393

Enterprise function–accounting function relationship

, 354

Enterprise income

, 36–37

Enterprise position

, 112

Enterprise prior experience

, 279, 354

Enterprise realities

, 142

Enterprise solvency

, 36

Enterprise transaction experience

, 163

Entities

, 302

business

, 84

enterprise

, 75, 83, 89, 135, 136, 220, 285, 333

Environment

, 326

Equivalence

, 272, 274, 275

Evolution of accounting terminology

, 445–446

Exceptions in accounting actions

, 130–131

Exchange

, 302

Exchange-priced transactions

, 129, 132, 135, 136, 217, 220, 234, 247, 252–253, 272–273, 274, 282, 285–286, 290, 333–336

characteristics of

, 165–166

consummated

, 166

Expense-revenue

, 201

Experience

, 257

accounts record

, 63–72

actual

, 242

hypothetical

, 242

limits of

, 105–115

significance of

, 57–62

Experience-significance

, 194

External audit

, 327

Factual history

, 404

Factual pattern of the transactions

, 437

Fidelity to trust

, 449

Financial accounting

, 202, 251, 282, 309

Financial position statement

, 425

Financial statements

, 20

Financial status

, 112

Fiscal period

, 85, 336, 460

Fixed-asset depreciation

, 352–353

allocation of

, 276

Form

, 209–214

characteristics of

, 216–217

of transactions

, 215, 216

Framework of concepts

, 457

French Commercial Code of

, 1673, 345

Full disclosure

, 289, 312

Functional logic

, 128, 130, 199, 290, 315, 333, 338, 383

General acceptance

, 360

Good judgment

, 76, 133–134

Grammar of accounting

, 420, 421–422

Gross National Product (GNP)

, 35, 78, 188, 353

Hidden misinterpretation of actual transaction experience

, 355

Historical cost

, 222

History of accounting

, 453–467

Human nature

, 232–233

Ideas motivate action

, 129–137

Imperatives

, 287, 288, 297

Impersonal accounts

, 218

Improved data significance

, 136

Improved well-being

, 308

Inadequacy

, 142

Inadequate names

, 93–98

Income

, 17

determination

, 313

enterprise

, 36–37

Income statement

, 17, 18, 246–247

symbols and placement

, 434

Inductive reasoning

, 40, 267, 292

Inflation

, 39–41

price

, 20

impact of

, 117–128

monetary

, 20, 21

Inner nature of accounting

, 271–277

Institute of Chartered Accountants in England and Wales (ICAEW)

, 451n4

Institute of Chartered Accountants of Scotland (ICAS)

, 451n4

Instrumentalism

, 66, 67

Integration

, 206–207

Integrity

, 165–168

Intellectual discipline of transaction data

, 413, 415

Intellectual order

, 255

Inter-account relations

, 457

Interaction

, 206–207

Internal audit

, 327

Internal Revenue Service

, 155

Interpretative analysis

, 395–396

Interpretative function

, 153–158

Interrelation

, 206–207, 234, 244, 300, 395

Inventory

, 342–343

allocation problems

, 359–366

losses

, 348

pricing

, 30, 105, 106–107, 109, 359–366

of principles

, 321–323

Investors

, 353–354

Judgment

, 76, 133–134, 137

Knowledge

, 259, 394

of accounting history

, 411, 453

of conditions

, 407

of needs

, 407

Knowns, appraising

, 159–164

Language

, 419–436, 441–442

Ledger account

, 22

LIFO method

, 158, 363–366, 465–466

Limited function of enterprise accounting

, 99–102, 384

Liquidation

, 394, 395

Logical duality

, 448

Logical reasoning

, 223

Lower-of-cost-or-market rule

, 275, 344, 347, 348, 363, 364

Management

, 75, 89, 181, 243, 333, 340, 353–354

accountant

, 375–379

accounting for

, 325–328

actions

, 427

choices of transactions

, 429

decision-making

, 220

function

, 84, 135

judgment

, 427

objectives

, 242

responsibility to absentee investors

, 396

science

, 375

Managerial accounting

, 190, 237, 439–440

Markets, capital

, 17

Materiality

, 298

Mathematics

, 238n4, 421

Means and ends

, 175–186, 210, 229, 242, 421, 458, 466

Measurement

, 141–142, 144, 289–290, 306–307

assumption of

, 291

Medium of exchange

, 423

Mental perception

, 421

Microeconomics

, 12

Mission of accounting

, 132, 169–174

patterns of

, 239–248

Modes of expression

, 422

Monetary inflation

, 20–22

Money

, 87, 189, 303, 307, 384, 422–423

Montgomery, Robert

, 7, 33

Napoleonic Code of

, 1807, 345

National income accounting

, 108–109, 200

Native intelligence

, 234

Needs

, 228

Neglected logic

, 339–350

Neglect of dual entries

, 219

Net value

, 427

Newton’s theory of gravity

, 205

New York Stock Exchange

, 356

Nominal accounts

, 10, 18, 87, 88, 143, 147, 149, 201, 221, 261, 267, 327, 335

Normal profit

, 365

Objectivity

, 298, 299

defined

, 139–140

of account data

, 139–150

Obsolescence

, 369–370

Operations research

, 150

Oppositeness

, 211, 433, 448

Pacioli, Luca

, 9, 65

Paid-in surplus

, 19, 22

Periodic apportionment

, 367, 395, 396

Periodic reporting

, 302, 360, 393

Persuasive truth

, 352, 354, 355, 382, 391–392

Planned effort

, 189–190, 248

Planned performance

, 248

Possessions bookkeeping

, 10

Postulates of accounting

, 91, 193, 297–304

Practicability

, 176–177

Pragmatism

, 3, 66, 195, 262, 265, 266, 383, 461

Preventative accounting

, 327

Price

bargained

, 422, 423

distinguished from value

, 13, 87, 109, 144–145, 166, 189

inflation

, 20

level changes

, 311–319

Principles of accounting

, 305–310, 351–356, 457

Private enterprise

, 158

Profit

, 19, 163, 243, 290, 369

normal

, 365

Profit-and-loss statement

, 11, 126

symbols and placement

, 434–435

Public accountant

, 375–379

Purchase-and-sale theory

, 111

Purchasing power of money

, 423

Quantification

, 144, 287, 302

Quantitative data

, 83, 85, 240, 241, 253, 420, 422

Rationality

, 179

Rational motivation, continuity of

, 406

Real accounts

, 10, 87, 143, 149, 201, 221, 261, 267

Realization

, 121, 141, 142–143, 306

Reasoning

deductive

, 40, 267

inductive

, 40, 267, 292

logical

, 223

Recognized needs

, 411

Recording of transactions

, 408

Recoverable cost

, 364

Relative solvency

, 112

Reminiscing

, 469–472

Responsibility accounting

, 438, 449

Results bookkeeping

, 10

Revenues

, 23, 189, 354

Roman verbal memoranda of debts

, 448

Rules

, 22, 42

Science, accounting as

, 279–282

Securities and Exchange Commission

, 155, 185, 356

Self-interest

, 251, 352, 355

Social accounts

, 200

Stable unit

, 298

Standards

, 22

Statement

of affairs

, 397

capital

, 17, 18

income

, 17, 18

Statistics

, 463

Structure of accounting actions

, 134, 383

Substance

, 209–214

of transactions

, 215–224

Suitability of accounting

, 177, 191–192, 194

Superstructure of actions

, 134

Supplementary data

, 125, 316

Surplus

, 313, 315

capital

, 19, 427

appraisal

, 19, 20

appreciation

, 19, 20, 22, 314

earned

, 19, 22, 314

paid-in

, 19, 22

Syntax of accounting

, 420

Systematic method of inquiry

, 260

Taxation

, 17

Tentativeness

, 286

Theory as action explanation

, 199–207

Theory–practice relation

, 251–258

Transactions

, 100, 125, 326

analysis of

, 10, 11, 157, 188

characteristics of

, 216–217, 223

exchange-priced

, 129, 132, 135, 136, 217, 234, 252–253, 272–273, 274, 282, 285–286, 290, 333–336

factual pattern of

, 437

recording

, 408

substance of

, 209–214

Trial balance

, 11

Uniformity

, 298, 299

Unilateral accounts

, 240

Unit of measure

, 144, 146–147, 302

Usefulness

, 176, 217, 303, 467

of technical data

, 141

Valuation

, 248, 276, 306, 345, 366

Valuation precedent for companies, creating

, 110–111

Value

, 167, 168, 217, 248, 306, 431

accretion

, 118

distinguished from price

, 13, 87, 109, 144–146, 166, 189

Well-being

, 427

enterprise

, 369

improved

, 308

“Why?” questions, inquiries of

, 389–401