It often has been emphasised that the reflection of economic reality of company transactions is fundamental to financial accounting. Although this fundamental principle is widely accepted, there is not a general description of how reality can be constructed in financial accounting. This paper...

This paper addresses two problematic issues arising from the importation of terms into financial accounting: (1) the nature of economic reality; and (2) the role of assumptions. These two issues have stirred a lot of controversy relating to financial accounting measurements and affect...

Accounting is currently a very dynamic field at international level. Accounting information or its derivatives comprise an important segment of the information conveyed in the economic environment. Therefore, accounting is considered by some authors as the most important information source of a...

Economic reality is constituted by economic objects such as goods, commodities, money, value, price, and exchange that, together, give rise to the complex entity known as the market. Each of these categories is governed by exact laws that provide the conditions for settling objectively whether...

Purpose – The aim of this paper is to stimulate further discussion on divergent institutional and academic needs for effective marking processes to evaluate student work in Australian universities. This is in specific response to institutional stated goals and emerging policies under current...