The New Palgrave Dictionary of Economics

Living Edition
| Editors: Palgrave Macmillan

Accounting and Economics

  • G. Whittington
Living reference work entry

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Accounting and economics have been described by Boulding (1962) as ‘the uncongenial twins’. They are both concerned with the same raw material, economic activity, but they approach it in very different ways. Each discipline has evolved over several centuries, developing its own concepts, language and culture with remarkably little help from the other. However, there has more recently been an increased interaction between the two disciplines, as the accountant’s horizons have widened from recording to decision-making and the economist has become more concerned with the observation and measurement of economic phenomena in order to test his a priori theories.


Management Accounting Capital Asset Price Model Overhead Cost Replacement Cost Capital Budget 
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Copyright information

© The Author(s) 1987

Authors and Affiliations

  • G. Whittington
    • 1
  1. 1.