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Ch. I] ACCOUNTING THEORY IN FINANCE
conducted by a corporation, the balance between the positive
and negative values must be increased by the original and subsequent
contributions of capital by the owners in order to give
the actual net worth of the business. This balance of positive
and negative value, under whatever form it is presented, is
familiarly known as the balance sheet.
The other mode of representation is a recapitulation of
the progress of the business. It is a statement of the steps
by which the money equivalent or balance sheet of a business
at one moment of time is changed into another money equivalent
at a later moment of time. It is the general income account,
embodying all the increases or decreases in economic
value sustained by the business during the time intervening
between two balance sheets.
The Balance Sheet—The balance sheet is an instantaneous
photograph of the business; it presumes a balanced equilibrium
between the various forces making for the increase and the decrease
of the economic values of the business. It presumes
a momentary static condition; but since all business enterprise
is essentially dynamic, the balance sheet can be theoretically true
for only a single infinitesimal unit of time. It is thus a cross-section
of the stream of the business, as the general income
account is a longitudinal section between any two cross-sections
or balance sheets.^
The balance sheet should express, so far as figures permit,
the wealth represented by a business at any one moment of
time. This wealth is in various forms, representing not only
property actually in hand, but also the rights to receive property
in the hands of others at the moment of time represented
by the balance sheet. In addition, persons outside of the busi-a
These theoretical considerations may be expressed more simply by a
few symbols. Let the series A, B, C M represent the various economic
successive values of any business enterprise. Their money equivalents
may be represented by the series a, b, c m. Now the balance sheet is
merely a member of the second series expressed in some degree of fulness.
The general income account is merely the diiïerence in money equivalents,
between any two members of the second series—as b-a=v. v is positive if
the business has resulted in a profit, negative if in a deficit.
Beschrijving voorwerp
| Titel | The financial policy of corporations |
| Auteur | Dewing, Arthur Stone |
| Jaartal | 1926 |
| Collectienaam | NIVRA Historisch Archief, UBVU gedigitaliseerd |
| PPN | 344552586 |
| Toegangsgegevens (URL) | http://imagebase.ubvu.vu.nl/getobj.php?ppn=344552586 |
| Signatuur origineel | NIVRAHA149 |
| Evaluatie |
Beschrijving
| Titel | NIVRAHA149_00479 |
| Transcript | Ch. I] ACCOUNTING THEORY IN FINANCE conducted by a corporation, the balance between the positive and negative values must be increased by the original and subsequent contributions of capital by the owners in order to give the actual net worth of the business. This balance of positive and negative value, under whatever form it is presented, is familiarly known as the balance sheet. The other mode of representation is a recapitulation of the progress of the business. It is a statement of the steps by which the money equivalent or balance sheet of a business at one moment of time is changed into another money equivalent at a later moment of time. It is the general income account, embodying all the increases or decreases in economic value sustained by the business during the time intervening between two balance sheets. The Balance Sheet—The balance sheet is an instantaneous photograph of the business; it presumes a balanced equilibrium between the various forces making for the increase and the decrease of the economic values of the business. It presumes a momentary static condition; but since all business enterprise is essentially dynamic, the balance sheet can be theoretically true for only a single infinitesimal unit of time. It is thus a cross-section of the stream of the business, as the general income account is a longitudinal section between any two cross-sections or balance sheets.^ The balance sheet should express, so far as figures permit, the wealth represented by a business at any one moment of time. This wealth is in various forms, representing not only property actually in hand, but also the rights to receive property in the hands of others at the moment of time represented by the balance sheet. In addition, persons outside of the busi-a These theoretical considerations may be expressed more simply by a few symbols. Let the series A, B, C M represent the various economic successive values of any business enterprise. Their money equivalents may be represented by the series a, b, c m. Now the balance sheet is merely a member of the second series expressed in some degree of fulness. The general income account is merely the diiïerence in money equivalents, between any two members of the second series—as b-a=v. v is positive if the business has resulted in a profit, negative if in a deficit. |
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