CORRELATION OF COSTS TO FINANCIAL STATEMENTS.
In making an approach to the problems connected with the correlation of costs to financial statements, it might be pertinent to give some thought to the evolution which has occurred, over the course of many years, in the concept of the principal function of accounting. However, the emergence of the industrial era, with the resultant broadening of capital risk attendant upon the formation and operation of large industrial enterprises, marked the beginning of a new concept of the use of accounts. As the corporate form of enterprise, often comprising a large number of stockholders became more prevalent, there was consequently created a class of investors were not active in management of the business in which they had invested their capital. Thus was evolved the practice of the periodical statement of earnings, usually covering, as a matter of convenience, a period of a year, and supported by a statement of financial condition, or balance sheet, as of the end of the period for which the report of progress was made.
- DOI
- 10.2308/tar-7053172
- Volume
- 21 (4)
- Pages
- 410-415
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref