Journal Article Family Budget Data and Price-Elasticities of Demand Get access C. E. V. Leser C. E. V. Leser Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 9, Issue 1, November 1941, Pages 40–57, https://doi.org/10.2307/2967637 Published: 01 November 1941

No scientific theory of economic dynamics exists, 1. — The basic concepts and postulates of contemporary economic theory, 3. — The method of constructing and verifying traditional economic theory, 6. — Theoretical dynamics of Newtonian mechanics, 8. — Economics compared with physics, 10. — Bearing of this upon the possibility of a theoretical economic dynamics, 12. — The precise capacity of contemporary economic theory, 13. — Diagrammatical summary, 16.

Journal Article A Note on Professor Hicks' Value and Capital Get access Choh-Ming Li Choh-Ming Li Chunking Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 9, Issue 1, November 1941, Pages 74–75, https://doi.org/10.2307/2967639 Published: 01 November 1941

Abstract The article focuses on questions on standards governing accounting. In an attempt to clarify some of the points raised by critics relating to accounting standards in the book, "An Introduction to Corporate Accounting Standards," the author has collected some questions from the correspondences and tried to answer them in his own views. To a question whether or not the phrase "measured consideration" is merely another way of saying money value and if there is any evidence to prove that the term "measured consideration" is more appropriate than the word "value" to indicate the subject matter of accounting, the author replies that he does not know of any evidence that could prove that one term was better than the other. He also comments that he is prejudiced against the use of the term "value" to indicate the subject matter of accounting. To a question why facts are more objective and verifiable now than they used to be before the author replies that modern complexities do seem to place difficulties in the path.

Abstract Research into many important problems requires an understanding of both economics and accounting. It cannot be supposed that a single course in accounting will provide an adequate background for all problems therefore accounting in the graduate program of the social science student may be made a part of the course. The function of such a course would be an exposition of the basic principles of accounting and as far as possible an attempt would be made to explore some of the similarities and differences between economics and accounting. Accounting has a limited appeal to students of history, sociology, and political science. Most of those enrolling in the course will be students of economics. Of these the greater part will already have had sufficient background to give them an insight and interest in the problems of economics and accounting not uniformly characteristic of sophomores and juniors. Most of them will already have had courses in money and banking, corporation finance investments, marketing, and statistics. In addition some understanding of theory may be expected.

Abstract Several surveys of inventory practices have been made. The N.A.C.A. Bulletin of March, 1937, showed that 87% of 197 companies used the rule of cost or market whichever is lower for raw materials in their balance sheets. A report of February 1938 by the National Industrial Conference Board analyzed 916 companies. The rule was applied to raw materials in 63% of the cases, to goods in process in 38% and to furnished goods in 40% of the cases. The research department of the American Institute of Accountants examined 500 annual reports for 1939. The figures tabulated in The Journal of Accountancy for October 1940 show that 56% followed this rule "or variations thereof." These surveys as samples of practice show that the rule is in general use. But a rule may be widely useful in business without having the character necessary to make it a fundamental proposition of accounting. If we wish to search out the character of this rule, if we would like to determine whether it is a convenient and expedient rule of thumb or a basic accounting idea, we might begin by looking up its ancestry.

Abstract Since accounting is the method and means of recording, measuring and interpreting business and economic events, it is evident that accounting like statistics, is a technique and tool of social science, applicable particularly to business enterprises and other accounting entities. The accounting procedure must be used in a scientific manner in order to obtain results, which present true and impartial pictures of economic and business facts. In other words, if accounting is really to fill the role assigned to it as a means of economic control, it must grow out of its traditional, rule of thumb procedures and assume the stature of an objective, impersonal social science. There is considerable evidence today of a growing recognition among accountants that such a development is not only possible but also very necessary and that the time has now come when the practice of accounting ought to be placed on a genuinely objective basis, so that the special desires and interests of individual accountants and business managers will not unduly influence findings of accountants.

Journal Article Venture Capital and Taxation Get access Charles C. Abbott, Charles C. Abbott Harvard University Search for other works by this author on: Oxford Academic Google Scholar Eugene M. Zuckert Eugene M. Zuckert Graduate School of Business Administration Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 55, Issue 4, August 1941, Pages 667–682, https://doi.org/10.2307/1884123 Published: 01 August 1941