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The Hicks' Concept of Income and Its Relevancy for Accounting Purposes

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  • David Procházka

Abstract

The paper analyses the possibility of using the economic concept of income introduced by J. R. Hicks for accounting purposes. Despite some disadvantages hindering from its broader practical utilization, this concept still finds its place in the area of managerial accounting and capital maintenance. Some aspects of Hicks' income concepts can be even found in International Financial Reporting Standards.

Suggested Citation

  • David Procházka, 2009. "The Hicks' Concept of Income and Its Relevancy for Accounting Purposes," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2009(1), pages 37-60.
    • Handle: RePEc:prg:jnlefa:v:2009:y:2009:i:1:id:62:p:37-60
    DOI: 10.18267/j.efaj.62
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    References listed on IDEAS

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    1. Joerg-Markus Hitz, 2007. "The Decision Usefulness of Fair Value Accounting - A Theoretical Perspective," European Accounting Review, Taylor & Francis Journals, vol. 16(2), pages 323-362.
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    Cited by:

    1. David Procházka, 2014. "The Failure of Decision Usefulness Approach on an Example of the New Standard for Revenue Recognition [Selhání užitečnostního přístupu k formulaci účetních pravidel na příkladu nového standardu pro," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(3), pages 7-19.

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    More about this item

    Keywords

    Ex-ante income; Ex-post income; J. R. Hicks; Subjective goodwill; Subjective profit; Subjective value;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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