and preference, rather than on the

and preference, rather than on the basis of inductive study of the existing
system. This may perhaps be the most crucial reason why so many normative models or policy
proposals are not implemented in the real world. (Ijiri 1975: 28).
On the other hand, deductivists such as Paton (1922), Canning (1929), Sweeney (1936),
MacNeal (1939), Chambers (1966), etc. develop accounting models of global application
(AAA 1977). They are basically reformers and suggest new bases of accounting measurement.
Many of these deductive writers advocate current costs or values. They drew on neoclassical
economic theory6 and on their observations of economic behavior to suggest that accounting
should report current costs instead of historical costs. (AAA 1977). These deductivists do not
investigate the decision frameworks of specific classes of users. Instead they assume the
income figure generated by their model would be equally useful to all types of users.7 That is
why their model is called ‘true income’ model. (AAA 1977). In contrast, as noted earlier, the
decision model approach recognizes that different decisions may require different information.
This approach has received varying degrees of emphasis in the accounting literature since the
1950s.8 It has been used in A Statement of Basic Accounting Theory (ASOBAT) issued by
American Accounting Association (AAA). The conceptual framework for financial reporting
issued by the Financial Accounting Standards Board (FASB) is also an example of the decision
model approach.
This paper reviews five important works within the tradition of inductive–deductive models.
These are:
MacNeal, Kenneth. 1939 (Reprinted in 1970). Truth in Accounting.
Paton, W. A. and A. C. Littleton. 1940. An Introduction to Corporate
Accounting Standards.
Littleton, A. C., 1953. Structure of Accounting Theory.
Chambers, R. J. 1966. Accounting, Evaluation and Economics Behavior.
Ijiri, Yuji. 1975. Theory of Accounting Measurement.
Though we have mentioned inductive models and deductive models separately, it should be
noted that it is very difficult to classify a work as being inductive or deductive only. Some
works have used both models simultaneously. Ijiri’s (1975) work illustrates this. He induced
6 Many of the accounting academics (e.g., Hatfield and Paton) had doctorates in economics. Some of the most
prominent writers, such as Canning and Alexander, were economists (AAA 1977: 6). It is hardly surprising that
teachings of neo-classical economics would inform their accounting theories.
7 Alexander (1950) is the exception.
8 See AAA (1977: 10-12) for a brief survey of accounting works employing this approach.
4
the goal underlying current accounting practice and argues in a normative vein that this goal
should be retained. Using deductive logic, he then recommends particular basis of
measurement.
MacNeal (1939)
MacNeal (1939) is a revolutionary. His work contains a vehement attack against the present
accounting practice. He thinks that the function of accounting is to report economic truth. But
financial statements, he argues, do not present truth.9 They are misleading to the investors and
creditors. In particular, he says that the historical cost principle and the conservatism
convention prevent financial statements from presenting true financial position and the
operating results of the firm.10
He links the development of accounting principles to the business and economic conditions
obtaining in medieval Europe and by reconstruction, he shows that accounting principles were
the natural outgrowth of the then conditions which have ceased to exist now. But accounting
principles have not kept pace with the changed conditions.
MacNeal evaluates three justifications offered in favor of the cost principles. First, cost
represents the value of a fixed asset to a going concern, called ‘the going value’ theory. Second,
it is impractical and expensive to revalue assets every year. Third, even if revaluations of fixed
assets were done every year that would not provide significant information to the users.
The ‘going value’ theory states that cost represents the value of service of an asset to the owner
at the time of the purchase. Since the service potential of the asset can not change unless there
is any change in its physical condition, the value of the asset to the owner can not change after
the purchase. Hence, fixed assets should be shown at costs in the balance sheet even after the
purchase. Since fixed assets are purchased not for sale, but for productive use in the business,
market prices are not relevant for the valuation of the asset. MacNeal disagrees with this
position. To him, value means economic value that is determined by the interaction of demand
and supply in a free and competitive market. Cost represents the economic value at the time of
purchase only if it is determined by demand and supply in a free and competitive market that is
sufficiently broad and active. Otherwise costs can not be economic values even at the time of
purchase. After the purchase, if the relative forces of demand and supply change, the economic
value would also change. MacNeal further argues that the ‘going value’ theory was appropriate
when there was a permanent owner-manager and ventures had limited lives so that the ownermanager was interested only in knowing the cost to date of the venture. Now there are
numerous individuals who hold shares in modern corporations and are ignorant of the state of
affairs of the firm and must rely on the information communicated by management.
Furthermore, ownership of corporate firms changes frequently. Since each share involves a
claim against the assets, the equitable ownership also changes with changes in shareholders. It
is important to ensure equity and fairness to the changing shareholders. The present practice of
not reporting unrealized market prices prevents shareholders from the assessing the true value
9 This is a philosophically unsupportable position. Truth has been defined as correspondence with facts (Popper
1979: 44). If this definition is adopted and if fact or reality is something independent of the theoretical system, then
historical costs, replacement costs, and selling price (realizable value) are all truths, since they correspond to
different facts. Hence, truth alone can hardly be a criterion of choice of the basis of measurement in accounting.
However, as Hines (1988) argues, accounting reports not only reality, it also creates reality.
10 Price economics, especially the theories of demand and supply, informs MacNeal’s analysis of the present
accounting principles and his recommendations on asset valuation. MacNeal tells us that ‘the vital defect in present
accounting practice is its disharmony with the simpler principles of economics and logic, commonly called common
sense’ (MacNeal 1939: xi, italics added). Thus, he undertakes to ‘bring every accounting rule into line with the
proven principles of economics and logic’ (MacNeal 1939: vii, italics added).
5
of their shareholding and is, thus, an obstacle to ensuring equity. Hence, the ‘going value’
theory is inappropriate and does injustice to the changing stockholders.
MacNeal argues that if fixed assets are revalued at year-end, it becomes a matter of routine
later. Hence, the question of impracticality and expense does not stand in the way of reporting
present economic values. He further claims that present economic values are useful to investors
and creditors in investment and credit decisions.
The argument in favor of the conservatism convention is that it ensures that the earnings and
net worth of the firm are at least as good as that represented in the financial statements.
MacNeal argues that this assurance was important for creditors who supplied the funds and
rested their credit decisions on the status of current assets. The conservatism convention
provided a safety margin for these creditors in times of financial distress of the firm. Now trade
credit constitutes a very small portion of the total funds obtained by the firm. Toady the most
important party at interest is the small, uninformed securityholder. Thus the conservatism
convention has lost its relevance today.
MacNeal employs a deductive model. He claims that managers, creditors and stockholders
want to know the present net worth of the entity. Creditors need this information because this
helps them assess the probability of being repaid. Stockholders need this information because
this helps them compare the possessions of their company with those of other companies whose
stock they may intend to buy. Managers, creditors and stockholders are also interested in
having information regarding all of the profits/losses made by the entity. Financial statements
can serve these information needs well if they report present economic values. By economic
values, he means market prices (i.e., exit price) established through the free play of demand and
supply in a market that is free and competitive, and sufficiently broad and active. Where free,
competitive, and sufficiently broad and active market does not exist (e.g., in the case of work in
progress, most finished goods, specialized building and equipment, etc.), present economic
values should be estimated by the present replacement costs of the particular asset.11 Historical
cost should be used only in the case of nonmarketable and nonreproducible assets (e.g.,
intangibles, mineral deposits, etc.). For MacNeal, it is an irony that the resulting total asset
figure in the balance sheet would not make any meaningful sense since the total asset figure
would be a curious mixture of market prices, replacement costs, and historical costs.
MacNeal suggests that depreciation be calculated on the present economic value of assets,
rather than on their historical costs. He defines depreciation as the loss in value of assets due to
physical wear and tear. But in the illustrations12 what he actua

Hasil (Bahasa Indonesia) 1:

dan preferensi, bukan berdasarkan studi induktif yang ada sistem. Ini mungkin alasan paling penting mengapa begitu banyak model normatif atau kebijakan proposal tidak diimplementasikan di dunia nyata. (Ijiri, 1975:28).Di tangan lainnya, deductivists Paton (1922), Canning (1929), Sweeney (1936),MacNeal (1939), Chambers (1966), dll mengembangkan model akuntansi global aplikasi(AAA 1977). Mereka pada dasarnya reformator dan menyarankan basis baru pengukuran akuntansi.Banyak penulis ini deduktif advokat saat ini biaya atau nilai-nilai. Mereka menarik pada neoklasiktheory6 ekonomi dan pengamatan mereka perilaku ekonomi untuk menyarankan bahwa akuntansiharus melaporkan biaya saat ini bukan sejarah biaya. (AAA 1977). Deductivists ini tidakmenyelidiki keputusan kerangka kerja tertentu kelas pengguna. Sebaliknya mereka menganggapangka pendapatan yang dihasilkan oleh model mereka akan sama-sama berguna untuk semua jenis users.7 yangMengapa model mereka disebut 'benar penghasilan' model. (AAA 1977). Sebaliknya, seperti dijelaskan sebelumnya,keputusan model pendekatan mengakui bahwa keputusan yang berbeda mungkin memerlukan informasi yang berbeda.Pendekatan ini telah menerima berbagai derajat penekanan dalam literatur akuntansi sejak1950s.8 telah digunakan dalam pernyataan dari dasar akuntansi teori (ASOBAT) yang dikeluarkan olehAkuntansi American Association (AAA). Kerangka kerja konseptual untuk pelaporan keuanganissued by the Financial Accounting Standards Board (FASB) is also an example of the decisionmodel approach.This paper reviews five important works within the tradition of inductive–deductive models.These are: MacNeal, Kenneth. 1939 (Reprinted in 1970). Truth in Accounting. Paton, W. A. and A. C. Littleton. 1940. An Introduction to Corporate Accounting Standards. Littleton, A. C., 1953. Structure of Accounting Theory. Chambers, R. J. 1966. Accounting, Evaluation and Economics Behavior. Ijiri, Yuji. 1975. Theory of Accounting Measurement.Though we have mentioned inductive models and deductive models separately, it should benoted that it is very difficult to classify a work as being inductive or deductive only. Someworks have used both models simultaneously. Ijiri’s (1975) work illustrates this. He induced6 Many of the accounting academics (e.g., Hatfield and Paton) had doctorates in economics. Some of the mostprominent writers, such as Canning and Alexander, were economists (AAA 1977: 6). It is hardly surprising thatteachings of neo-classical economics would inform their accounting theories.7 Alexander (1950) is the exception.8 See AAA (1977: 10-12) for a brief survey of accounting works employing this approach.4the goal underlying current accounting practice and argues in a normative vein that this goalshould be retained. Using deductive logic, he then recommends particular basis ofmeasurement.MacNeal (1939)MacNeal (1939) is a revolutionary. His work contains a vehement attack against the presentaccounting practice. He thinks that the function of accounting is to report economic truth. Butfinancial statements, he argues, do not present truth.9 They are misleading to the investors andcreditors. In particular, he says that the historical cost principle and the conservatismconvention prevent financial statements from presenting true financial position and theoperating results of the firm.10He links the development of accounting principles to the business and economic conditionsobtaining in medieval Europe and by reconstruction, he shows that accounting principles werethe natural outgrowth of the then conditions which have ceased to exist now. But accountingprinciples have not kept pace with the changed conditions.MacNeal evaluates three justifications offered in favor of the cost principles. First, costrepresents the value of a fixed asset to a going concern, called ‘the going value’ theory. Second,it is impractical and expensive to revalue assets every year. Third, even if revaluations of fixedassets were done every year that would not provide significant information to the users.The ‘going value’ theory states that cost represents the value of service of an asset to the ownerat the time of the purchase. Since the service potential of the asset can not change unless thereis any change in its physical condition, the value of the asset to the owner can not change afterthe purchase. Hence, fixed assets should be shown at costs in the balance sheet even after thepurchase. Since fixed assets are purchased not for sale, but for productive use in the business,market prices are not relevant for the valuation of the asset. MacNeal disagrees with thisposition. To him, value means economic value that is determined by the interaction of demandand supply in a free and competitive market. Cost represents the economic value at the time ofpurchase only if it is determined by demand and supply in a free and competitive market that issufficiently broad and active. Otherwise costs can not be economic values even at the time ofpurchase. After the purchase, if the relative forces of demand and supply change, the economicvalue would also change. MacNeal further argues that the ‘going value’ theory was appropriatewhen there was a permanent owner-manager and ventures had limited lives so that the ownermanager was interested only in knowing the cost to date of the venture. Now there arenumerous individuals who hold shares in modern corporations and are ignorant of the state ofaffairs of the firm and must rely on the information communicated by management.Furthermore, ownership of corporate firms changes frequently. Since each share involves aclaim against the assets, the equitable ownership also changes with changes in shareholders. Itis important to ensure equity and fairness to the changing shareholders. The present practice ofnot reporting unrealized market prices prevents shareholders from the assessing the true value9 This is a philosophically unsupportable position. Truth has been defined as correspondence with facts (Popper1979: 44). If this definition is adopted and if fact or reality is something independent of the theoretical system, thenhistorical costs, replacement costs, and selling price (realizable value) are all truths, since they correspond todifferent facts. Hence, truth alone can hardly be a criterion of choice of the basis of measurement in accounting.However, as Hines (1988) argues, accounting reports not only reality, it also creates reality.10 Price economics, especially the theories of demand and supply, informs MacNeal’s analysis of the presentaccounting principles and his recommendations on asset valuation. MacNeal tells us that ‘the vital defect in presentaccounting practice is its disharmony with the simpler principles of economics and logic, commonly called commonsense’ (MacNeal 1939: xi, italics added). Thus, he undertakes to ‘bring every accounting rule into line with theproven principles of economics and logic’ (MacNeal 1939: vii, italics added).5of their shareholding and is, thus, an obstacle to ensuring equity. Hence, the ‘going value’theory is inappropriate and does injustice to the changing stockholders.MacNeal argues that if fixed assets are revalued at year-end, it becomes a matter of routinelater. Hence, the question of impracticality and expense does not stand in the way of reportingpresent economic values. He further claims that present economic values are useful to investorsand creditors in investment and credit decisions.The argument in favor of the conservatism convention is that it ensures that the earnings andnet worth of the firm are at least as good as that represented in the financial statements.MacNeal argues that this assurance was important for creditors who supplied the funds andrested their credit decisions on the status of current assets. The conservatism conventionprovided a safety margin for these creditors in times of financial distress of the firm. Now tradecredit constitutes a very small portion of the total funds obtained by the firm. Toady the mostimportant party at interest is the small, uninformed securityholder. Thus the conservatismconvention has lost its relevance today.MacNeal employs a deductive model. He claims that managers, creditors and stockholderswant to know the present net worth of the entity. Creditors need this information because thishelps them assess the probability of being repaid. Stockholders need this information becausethis helps them compare the possessions of their company with those of other companies whosestock they may intend to buy. Managers, creditors and stockholders are also interested inhaving information regarding all of the profits/losses made by the entity. Financial statementscan serve these information needs well if they report present economic values. By economicvalues, he means market prices (i.e., exit price) established through the free play of demand andsupply in a market that is free and competitive, and sufficiently broad and active. Where free,competitive, and sufficiently broad and active market does not exist (e.g., in the case of work inprogress, most finished goods, specialized building and equipment, etc.), present economicvalues should be estimated by the present replacement costs of the particular asset.11 Historicalcost should be used only in the case of nonmarketable and nonreproducible assets (e.g.,intangibles, mineral deposits, etc.). For MacNeal, it is an irony that the resulting total assetfigure in the balance sheet would not make any meaningful sense since the total asset figurewould be a curious mixture of market prices, replacement costs, and historical costs.MacNeal suggests that depreciation be calculated on the present economic value of assets,rather than on their historical costs. He defines depreciation as the loss in value of assets due tophysical wear and tear. But in the illustrations12 what he actua

Hasil (Bahasa Indonesia) 2:

dan preferensi, bukan atas dasar penelitian induktif yang ada
sistem. Ini mungkin mungkin menjadi alasan yang paling penting mengapa begitu banyak model normatif atau kebijakan
proposal tidak diterapkan di dunia nyata. (Ijiri 1975: 28).
Di sisi lain, deductivists seperti Paton (1922), Canning (1929), Sweeney (1936),
MacNeal (1939), Chambers (1966), dll mengembangkan model akuntansi aplikasi global
(AAA 1977). Mereka pada dasarnya reformis dan menyarankan pangkalan baru pengukuran akuntansi.
Banyak dari penulis deduktif menganjurkan biaya saat ini atau nilai-nilai. Mereka menarik pada neoklasik
theory6 ekonomi dan pengamatan mereka dari perilaku ekonomi yang menunjukkan bahwa akuntansi
harus melaporkan biaya saat ini bukan biaya historis. (AAA 1977). Deductivists ini tidak
menyelidiki kerangka keputusan kelas tertentu pengguna. Sebaliknya mereka menganggap
angka pendapatan yang dihasilkan oleh model mereka akan sama-sama berguna untuk semua jenis users.7 Itu
sebabnya model mereka disebut Model pendapatan yang benar '. (AAA 1977). Sebaliknya, seperti disebutkan sebelumnya, yang
pendekatan model keputusan mengakui bahwa keputusan yang berbeda mungkin memerlukan informasi yang berbeda.
Pendekatan ini telah menerima berbagai tingkat penekanan dalam literatur akuntansi sejak
1950s.8 Telah digunakan dalam Pernyataan Teori Akuntansi Dasar (ASOBAT ) yang dikeluarkan oleh
Ikatan Akuntan Amerika (AAA). Kerangka konseptual untuk pelaporan keuangan
yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan (FASB) juga merupakan contoh dari
keputusan. Pendekatan Model
Tulisan ini lima karya penting dalam tradisi model induktif-deduktif.
Ini adalah:
MacNeal, Kenneth. 1939 (Dicetak ulang pada tahun 1970). Kebenaran Akuntansi.
Paton, WA dan AC Littleton. 1940. Sebuah Pengantar Perusahaan
Standar Akuntansi.
Littleton, AC, 1953. Struktur Teori Akuntansi.
Chambers, RJ 1966. Akuntansi, Evaluasi dan Ekonomi Perilaku.
Ijiri, Yuji. 1975. Teori Akuntansi Pengukuran.
Meskipun kami telah disebutkan model induktif dan deduktif model secara terpisah, harus
dicatat bahwa sangat sulit untuk mengklasifikasikan pekerjaan sebagai induktif atau deduktif saja. Beberapa
karya telah menggunakan kedua model secara bersamaan. (1975) karya Ijiri menggambarkan ini. Dia diinduksi
6 Banyak akademisi akuntansi (misalnya, Hatfield dan Paton) memiliki gelar doktor di bidang ekonomi. Beberapa yang paling
penulis terkemuka, seperti Canning dan Alexander, yang ekonom (AAA 1977: 6). Hal ini tidak mengherankan bahwa
ajaran ekonomi neo-klasik akan menginformasikan teori akuntansi mereka.
7 Alexander (1950) adalah pengecualian.
8 See AAA (1977: 10-12) untuk survei singkat akuntansi bekerja menggunakan pendekatan ini.
4
tujuan praktik akuntansi saat ini yang mendasari dan berpendapat dalam nada normatif bahwa tujuan ini
harus dipertahankan. Menggunakan logika deduktif, ia kemudian menyarankan dasar tertentu
pengukuran.
MacNeal (1939)
MacNeal (1939) adalah seorang revolusioner. Karyanya berisi serangan keras terhadap hadir
praktik akuntansi. Ia berpikir bahwa fungsi akuntansi adalah untuk melaporkan kebenaran ekonomi. Tapi
laporan keuangan, menurutnya, tidak hadir truth.9 Mereka menyesatkan kepada investor dan
kreditor. Secara khusus, ia mengatakan bahwa prinsip biaya historis dan konservatisme
konvensi mencegah laporan keuangan dari penyajian posisi keuangan yang benar dan
hasil operasi firm.10 yang
Dia menghubungkan pengembangan prinsip akuntansi untuk bisnis dan kondisi ekonomi
memperoleh di Eropa abad pertengahan dan oleh rekonstruksi, ia menunjukkan bahwa prinsip akuntansi yang
dengan hasil alami dari kondisi yang kemudian telah tidak ada lagi sekarang. Tapi akuntansi
prinsip tidak terus berpacu dengan kondisi yang berubah.
MacNeal mengevaluasi tiga pembenaran yang ditawarkan dalam mendukung prinsip-prinsip biaya. Pertama, biaya
mewakili nilai aset tetap untuk kelangsungan, yang disebut 'nilai akan' teori. Kedua,
adalah tidak praktis dan mahal untuk merevaluasi aset setiap tahun. Ketiga, bahkan jika revaluasi tetap
aset yang dilakukan setiap tahun itu tidak akan memberikan informasi yang signifikan kepada pengguna.
The 'akan nilai' teori menyatakan bahwa biaya merupakan nilai pelayanan aset kepada pemilik
pada saat pembelian. Karena potensi layanan dari aset tidak dapat mengubah kecuali ada
adalah setiap perubahan kondisi fisik, nilai aset kepada pemilik tidak bisa berubah setelah
pembelian. Oleh karena itu, aset tetap harus ditampilkan dengan biaya di neraca bahkan setelah
pembelian. Sejak aktiva tetap dibeli bukan untuk dijual, tetapi untuk penggunaan produktif dalam bisnis,
harga pasar tidak relevan untuk penilaian aset. MacNeal tidak setuju dengan ini
posisi. Baginya, nilai berarti nilai ekonomi yang ditentukan oleh interaksi permintaan
dan penawaran di pasar bebas dan kompetitif. Biaya merupakan nilai ekonomi pada saat
pembelian hanya jika ditentukan oleh permintaan dan penawaran di pasar bebas dan kompetitif yang
cukup luas dan aktif. Jika tidak biaya tidak dapat nilai ekonomi bahkan pada saat
pembelian. Setelah pembelian, jika pasukan relatif dari permintaan dan perubahan pasokan, ekonomi
nilai akan juga berubah. MacNeal lebih jauh berpendapat bahwa 'nilai akan' teori adalah tepat
ketika ada pemilik-manajer permanen dan usaha memiliki kehidupan terbatas sehingga ownermanager itu hanya tertarik untuk mengetahui biaya untuk tanggal usaha. Sekarang ada
banyak individu yang memegang saham di perusahaan modern dan tidak mengetahui keadaan
urusan perusahaan dan harus bergantung pada informasi yang disampaikan oleh manajemen.
Selanjutnya, kepemilikan perusahaan perusahaan sering berubah. Karena setiap saham melibatkan
klaim terhadap aset, kepemilikan adil juga berubah dengan perubahan pemegang saham. Hal
ini penting untuk memastikan kesetaraan dan keadilan kepada pemegang saham berubah. Praktek kini
tidak melaporkan harga pasar yang belum direalisasi mencegah pemegang saham dari menilai nilai sebenarnya
9 Ini adalah posisi filosofis unsupportable. Kebenaran telah didefinisikan sebagai korespondensi dengan fakta (Popper
1979: 44). Jika definisi ini diadopsi dan jika fakta atau realitas adalah sesuatu yang independen dari sistem teoritis, maka
biaya historis, biaya penggantian, dan harga jual (nilai realisasi) semua kebenaran, karena mereka sesuai dengan
fakta-fakta yang berbeda. Oleh karena itu, kebenaran saja tidak dapat menjadi kriteria pilihan dasar pengukuran dalam akuntansi.
Namun, sebagai Hines (1988) berpendapat, laporan akuntansi tidak hanya realitas, juga menciptakan realitas.
10 ekonomi Harga, terutama teori permintaan dan penawaran , menginformasikan analisis MacNeal ini yang hadir
prinsip akuntansi dan rekomendasi-nya pada penilaian aset. MacNeal memberitahu kita bahwa 'cacat penting di masa sekarang
praktik akuntansi adalah ketidakharmonisan dengan prinsip-prinsip sederhana ekonomi dan logika, yang biasa disebut umum
akal' (MacNeal 1939: xi, huruf miring ditambahkan). Dengan demikian, ia berjanji untuk 'membawa setiap aturan akuntansi ke sejalan dengan
prinsip-prinsip terbukti ekonomi dan logika' (MacNeal 1939: vii, huruf miring ditambahkan).
5
dari kepemilikan saham mereka dan, dengan demikian, hambatan untuk menjamin keadilan. Oleh karena itu, 'akan nilai'
teori adalah tidak pantas dan tidak adil kepada pemegang saham berubah.
MacNeal berpendapat bahwa jika aset tetap dinilai kembali pada akhir tahun, menjadi masalah rutin
nanti. Oleh karena itu, pertanyaan tidak praktis dan biaya tidak berdiri di jalan pelaporan
nilai ekonomi saat ini. Lebih lanjut ia menyatakan bahwa nilai ekonomi ini berguna untuk investor
dan kreditor dalam keputusan investasi dan kredit.
Argumen yang mendukung konvensi konservatisme adalah bahwa hal itu memastikan bahwa pendapatan dan
kekayaan bersih perusahaan setidaknya sama baiknya dengan yang diwakili dalam laporan keuangan.
MacNeal berpendapat bahwa jaminan ini penting bagi kreditur yang memasok dana dan
beristirahat keputusan kredit mereka tentang status aset lancar. Konservatisme konvensi
memberikan margin keamanan untuk kreditur ini di saat kesulitan keuangan perusahaan. Sekarang perdagangan
kredit merupakan sebagian kecil dari total dana yang diperoleh oleh perusahaan. Menjilat paling
penting partai dengan bunga adalah kecil, securityholder kurang informasi. Sehingga konservatisme
konvensi telah kehilangan relevansinya saat ini.
MacNeal mempekerjakan model deduktif. Dia mengklaim bahwa manajer, kreditur dan pemegang saham
ingin mengetahui kekayaan bersih sekarang dari entitas. Kreditur memerlukan informasi ini karena ini
membantu mereka menilai probabilitas yang dilunasi. Pemegang saham memerlukan informasi ini karena
ini membantu mereka membandingkan harta perusahaan mereka dengan orang-orang dari perusahaan lain yang
saham mereka mungkin berniat untuk membeli. Manajer, kreditur dan pemegang saham juga tertarik
memiliki informasi mengenai semua keuntungan / kerugian yang dibuat oleh entitas. Laporan keuangan
dapat melayani informasi ini perlu juga jika mereka melaporkan nilai ekonomi saat ini. Dengan ekonomi
nilai, ia berarti harga pasar (yaitu, harga exit) didirikan melalui bermain bebas permintaan dan
pasokan di pasar yang bebas dan kompetitif, dan cukup luas dan aktif. Mana bebas,
kompetitif, dan cukup luas dan aktif pasar tidak ada (misalnya, dalam kasus bekerja di
kemajuan, paling barang jadi, bangunan khusus dan peralatan, dll), ekonomi saat ini
nilai-nilai harus diperkirakan oleh biaya penggantian kini Sejarah tertentu asset.11
biaya harus digunakan hanya dalam kasus aset nonmarketable dan nonreproducible (misalnya,
berwujud, deposit mineral, dll). Untuk MacNeal, itu adalah sebuah ironi total aset yang dihasilkan
angka di neraca tidak akan masuk akal berarti karena angka total aset
akan menjadi campuran penasaran harga pasar, biaya penggantian, dan biaya historis.
MacNeal menunjukkan bahwa penyusutan dihitung pada nilai sekarang ekonomi aset,
bukan pada biaya historis mereka. Ia mendefinisikan depresiasi sebagai kerugian dalam nilai aset karena
memakai fisik dan air mata. Namun dalam illustrations12 apa dia Actua