Realisation rule: an optional aid to sound finance

Article Abstract:

Bryan Carsberg and Christopher Noke assert that the rule which requires the realization of profits as a prerequisite for showing profit in accounts is often inappropriate for a variety of companies. In 'Reporting of Profits and the Concept of Realisation,' Carsberg and Noke point to the variability of interpretations of the definition of 'realized,' and goes on to discuss some of its possible definitions. An appeal is made by the two authors in favor of the functionality of accounts as sources of investor information. This concept of accounts is now gaining more and more favor, despite the fact that there is little evidence of this notion in accounting history. The disregard made of this notion of accounts continues particularly for purposes of measuring revenues. It is suggested that the realization rule be regarded as an alternative tool to sound finance and not as an integral income concept.

Financial statements, Corporation reports, Company reports

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How to become extinct

Article Abstract:

Medieval gilds are the precursors of today's professional organizations. These gilds, which number over a hundred in 15th century London, England, represent a number of craftsmen ranging from money dealers, curates and peddlers and are similarly subjected to internal disputes among their members. The medieval gilds, which were religious fraternities that engaged in business, were known for engaging in price-fixing activities and for encouraging the passage of laws that seek to prohibit trade by foreigners. These organizations often have closed ties with the existing governments and are also involved in running the community. Professional organizations are advised to note that the decline of the medieval gilds were predetermined in that they were conservative and were slow to adapt to innovations.

Professional Organizations, Professional Organizations NEC, History, Associations, Trade and professional associations, Professional associations, Trade associations, Employers' associations, Artisans, Guilds

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Depreciation and interest

Article Abstract:

The decision of the UK Accounting Standards Board to forbid the calculation of depreciation using an annual discount rate is discussed, with focus on the opinion that this is a valid method of accounting for depreciation.

Standards, Prices and rates, Accountants, Accounting Standards Board, Depreciation

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