THE BALANCE OF PAYMENTS: AN ACCOUNTING ANALYSIS.
Abstract This article presents an accounting analysis of balance of payments. There are many problems in the field of accounting specifically, the application of the principles of double-entry and of debit and credit has been especially unsatisfactory. Moreover, accounting wise, there are many gaps; the treatment is incomplete. That is to say, there is need for someone to define carefully the accounting unit; provide an out-line of the applicable classification of accounts; discuss the similarities and contrasts between business accounting and balance-of-payments accounting and to emphasize the cautions needed in the interpretation of balance-of-payments statements. This paper is an attempt on the part of the authors-to correct the above shortcomings. In accordance with the U.S. Department of Commerce, a balance of payments is defined here as a statistical tabulation of economic transactions for a given period, between residents of one country and residents of the rest of the world.
- DOI
- 10.2308/tar-7101507
- Volume
- 38 (1)
- Pages
- 133-141
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref