Accounting innovation beyond the enterprise: problematizing investment decisions and programming economic growth in the U.K. in the 1960s

Article Abstract:

A recently formulated accounting model stipulates that innovations in managerial accounting resulted principally from practitioners responding to practical problems. This model also holds that this innovation process, which began in the 19th century, essentially came to a halt in 1925. A significant exception to this accounting model's assumptions is the development of discounted cash flow (DCF) procedures in the 1950s, a case which is often explained as being the result of academics striving for relevance rather than practitioners responding to practical problems. An examination of the economic context in which these DCF techniques were formed is presented to prove that this accounting innovation occurred as a result of a governmental desire to influence economic growth indirectly and not, as the accounting model would suggest, because of practitioner responses or academic striving.

Standards, Innovations, Accounting and auditing, Cash flow, Managerial accounting

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On the interrelations between accounting and the state

Article Abstract:

Recent theoretical studies concerned with the nature of accounting change have theorized that accounting practices and government regulation are interrelated, a view substantial different from that of previous research, which regarded the two entities as connected only by external relations with each other. This branch of accounting research has concerned itself with the types of issues in accounting change requiring study; the role of the various techniques that constitute the accounting practice; and finding a method for understanding the relationship of accounting rationalities and technologies to accounting change.

Research, Industrial policy, Industry regulations, Government regulation of business, Trade regulation

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