The New Palgrave Dictionary of Economics

Living Edition
| Editors: Palgrave Macmillan

Accounting and Economics

  • Joel S. Demski
Living reference work entry

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Accounting provides an important source of economic measures, yet consistently falls short of the economist’s conceptual ideal. This shortfall is fodder for economic research, is the result of economic forces, and is the key to making the best possible use of these measures.


Accounting and economics Auditing regulation Depreciation Financial Accounting Standards Board (FASB) Generally Accepted Accounting Principles (GAAP) Historical-cost accounting Information school of accounting International Accounting Standards Board (IASB) Measurement school of accounting 
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Helpful comments by Haijin Lin and David Sappington are gratefully acknowledged.


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© The Author(s) 2008

Authors and Affiliations

  • Joel S. Demski
    • 1
  1. 1.