Some possible extensions to the accounting framework

Abstract

The earlier chapters have considered a wide range of alternative ways of evaluating financial events. However, in terms of the basic statements that are to be used for presentation to the users of the accounting information nothing fundamentally new has been discussed. It has been implicitly assumed throughout that two essential statements are to be created:

• 1. Some form of position statement (balance sheet);

• 2. Some form of income statement (P&L account).