Knowledge that Transforms

Capital consumption charges, Investments, Depreciation, Accounting History

Only fleeting attention has been given to the possibility of persistent error or bias in the calculations on which investment, output, and/or pricing decisions were based in the nineteenth century. This is an indirect tribute to the influence of Max Weber and other rationalists who stressed the concept of a rational capitalistic establishment employs capital accounting, that is, an establishment which determines its income yielding power by calculation according to methods of modern bookkeeping and the striking of a balance. 1 Schumpeter's views are even more exalting.

Taxation, Book-Tax conformity

Cashflow statement, Working capital

Depreciation, Cost accounting, Current value

Auditor training, Syllabus, Scotland

Currency risk, Price Changes, Sales

Direct costing, Variable costs, Fixed costs, Cost structure

Accounts receivables, Managerial discretion