ACCOUNTING IN ITALY.
In this article the author discusses the accounting practices in Italy. According to the author accounting is an application of economics, it does not mean that all university accounting department should be headed by economists. Most textbooks on accounting are written under the assumption that the economics has been the same, is now the same, and will be the same. Cash in bank in Italy necessarily means a whole set of contractual relations between the depositor and the bank. So it does in the United States, but in the United States they have assumed that cash in bank - means certain fundamental. A contractual relation between a depositor and a bank, at least in America, perhaps in England, is a definite contract between two free and independent citizens or persons under law enforceable in a free and open court of justice. The America banker has almost invariably loaned money to a corporation incorporated under the laws of Bavaria or under the laws of Italy or of Brazil subject to those laws and subject to those sovereign jurisprudence principle to be adjudicated by the courts in Germany or Italy or Brazil, payable perhaps in American dollar at an American fiscal agency, but, nevertheless, a clean-cut direct participation in the sovereignty where the money is used.
- DOI
- 10.2308/tar-8596348
- Volume
- 4 (1)
- Pages
- 33-37
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref