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Accounting and Economics

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Abstract

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.

Keywords

  • 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

JEL Classifications

  • M4

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  • DOI: 10.1057/978-1-349-95189-5_527
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Acknowledgments

Helpful comments by Haijin Lin and David Sappington are gratefully acknowledged.

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© 2018 Macmillan Publishers Ltd.

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Demski, J.S. (2018). Accounting and Economics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_527

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