Consequences of the Failure to Account for Externalities

  • Martin Freedman
  • A. J. Stagliano
Chapter

Abstract

In many ways the conventional accounting and reporting model is limited by its focus on private costs and benefits. Inclusion of only these factors is, to some degree, a reflection of a reliance on traditional micro-economic theory for the underpinnings of accountancy. A justification for much of the current accounting model is its relationship to this theory.1 This supposedly value-free functional structural world view has recently come under increasing criticism, but it continues to represent the ‘mainstream’ status quo position of accountancy today.

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Copyright information

© David J. Cooper & Trevor M. Hopper 1990

Authors and Affiliations

  • Martin Freedman
  • A. J. Stagliano

There are no affiliations available

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