I welcome the opportunity to write in the Millennium edition of the Pacific Accounting Review. The opportunity to write a non-referred article is an added bonus. This allows me to write a more speculative and less technical piece than I normally seek (or am forced) to write. Additionally, my...

This article derives in a comprehensive but informal way the essential conditions for activity based costing (ABC) and for costs proportional with output volume (CVO), such as variable material and component costs, to measure economic costs defined as incremental costs. Without this property...

In seeking to replace accounting ‘conventions' by ‘concepts' in the pursuit of principles-based standards, the FASB/IASB joint project on the conceptual framework has grounded its approach on a well-known definition of ‘income' by Hicks. We welcome the use of theories by accounting...