Abstract The two levels of accounting, microaccounting on one hand and macroaccounting on the other, indicate not only that accounting is a rapidly expanding field but also that accounting plays an important role in today's complex economy. The purpose of this article is to explore the interrelationship between microaccounting and macroaccounting. More specifically, it attempts, firstly, to identify macroaccounting as a branch of accounting; secondly, to examine briefly the interrelationships among the four sub-areas of accounting and economics, i.e., microaccounting, macroaccounting, microeconomics, and macroeconomics; thirdly, to compare some of the basic similarities and dissimilarities between microaccounting and macroaccounting; and finally to explore potential influences of macroaccounting on microaccounting. The article concludes that the demand for additional information from accounting for managerial, investment, and analytical purposes points to the need for more constructive and creative thinking in accounting.

A model is presented for the derivation and implementation of optimal linear decision rule for a firm producing and dealing in a number of interacting products, and possessing partial influence on their prices. The behavior of a multi-item production-inventory complex is represented as the dynamics of suitably defined state variables under the influence of decision rules that are stable and linear in the state variables, but otherwise unspecified. The dynamical equations are stochastic owing to the presence of stochastic processes in the forcing terms. The statistical properties of these processes, together with the decision rules, determine the statistics of the outcome or the criterion functional. The optimum inventory decision is then derived as the "best" linear transformation on the past of the state variables such that the mean value of the criterion functional is optimized subject to the system constraints. [Likely published between 1961-1966.]