Abstract
The United States Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) do not always see eye-to-eye. They are in complete agreement, however, on the two major – and quite distinct – functions of business accounting:
-
(1)
stewardship reporting on “the custody and safekeeping” of resources; and
-
(2)
performance reporting on “their efficient and profitable use”.1
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Copyright information
© 2013 Robert Anthony Rayman
About this chapter
Cite this chapter
Rayman, R.A. (2013). A Mediaeval System of Accounting. In: Toxic Economic Theory, Fraudulent Accounting Standards, and the Bankruptcy of Economic Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-137-30450-6_3
Download citation
DOI: https://doi.org/10.1007/978-1-137-30450-6_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-67150-2
Online ISBN: 978-1-137-30450-6
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)