%0 Journal Article %1 beaver1979nature %A Beaver, William H. %A Demski, Joel S. %D 1979 %I American Accounting Association %J The Accounting Review %K socdes %N 1 %P 38-46 %T The Nature of Income Measurement %U http://www.jstor.org/stable/246232 %V 54 %X Theory and practice of financial reporting are typically centered on the notion of income measurement. In this article, the authors adopt a fundamental measurement perspective. Income measurement is then argued to exist in a world of complete and perfect markets, but not necessarily otherwise. Hence, at a fundamental level the central feature of financial reporting cannot be income measurement. The writers then offer a reinterpretation of income reporting and accrual notions in terms of a "cost-effective" communication procedure.

@article{beaver1979nature, abstract = {Theory and practice of financial reporting are typically centered on the notion of income measurement. In this article, the authors adopt a fundamental measurement perspective. Income measurement is then argued to exist in a world of complete and perfect markets, but not necessarily otherwise. Hence, at a fundamental level the central feature of financial reporting cannot be income measurement. The writers then offer a reinterpretation of income reporting and accrual notions in terms of a "cost-effective" communication procedure.}, added-at = {2017-11-27T15:30:32.000+0100}, author = {Beaver, William H. and Demski, Joel S.}, biburl = {https://www.bibsonomy.org/bibtex/2cf1a2c58928fad8d413b1186039bd0f5/dirtyhawk}, interhash = {78e47269426d50e0c5f806723517952b}, intrahash = {cf1a2c58928fad8d413b1186039bd0f5}, issn = {00014826}, journal = {The Accounting Review}, keywords = {socdes}, number = 1, pages = {38-46}, publisher = {American Accounting Association}, timestamp = {2018-09-19T18:10:30.000+0200}, title = {The Nature of Income Measurement}, url = {http://www.jstor.org/stable/246232}, urldate = {2017-11-27}, volume = 54, year = 1979 }