Announcement

ACCOUNTING AND BUSINESS RESEARCH
Number 32 Autumn 1978
A research quarterly published by
the Institute of Chartered Accountants
in England and Wales
Editor: Professor R. H. Parker, University of Exeter

CONTENTS

‘Profit Centre’: a Satisfaction Generating Concept
Company Risk Relationships over Con-secutive Periods
The Impact of Inflation on the Profits of Listed Firms in Israel
Conceptualising the Liability
The Axioms of Accounting Measurement
Annual Reports in the United States: a Historical Perspective
Book Reviews
Notes on Contributors

David A. Dittman Kenneth R. Ferris
Haim Falk James A. Heintz
Solomon J. Flink Assa Birati Meyer Ungar
Ronald Ma Malcolm C. Miller
Mark Tippett Allen Schiff

Subscriptions should be sent to City House, 56-66 Goswell Road, London EC1M 7AB, England. Subscription rates are: U.K. £12, Overseas £15 (U.S. $29), Airmail Overseas £18 (U.S. $35). (Student rates: U.K. £6, Overseas £7.50 (U.S. $15).)

Announcement

A MAJOR NEW SERIES
HISTORIC ACCOUNTING LITERATURE
EDITED BY M. F. BYWATER

A facsimile collection in fifty volumes with a companion guide by M. F. Bywater and Basil S. Yamey

Historians of accountancy, economics and commerce will welcome a major new series from the Scolar Press, which will reprint in facsimile the most important texts from the early literature of accounting. Within these volumes with their tables, inventories and grittily realistic case-studies are detailed a host of commodities, transactions, trading methods and practices; many are now unfamiliar but were once at the heart of European economic development.

The collection is based on the Library of the Institute of Chartered Accountants in London, whose holdings in the fields of book-keeping and accountancy are the finest in the world. Many of these books are of the utmost rarity and in fragile condition. Conscious, therefore, of the need to make them more readily available to historians of business, commerce and economics, the Scolar Press will issue the most important texts from the sixteenth to the early nineteenth centuries. Many of the volumes will be in English, but key works in French, Italian, German, Dutch, Spanish and Portuguese will be included, illustrating the diffusion of knowledge of accounting and the shift in economic power from one country to another.

The series will contain seventy-five titles in fifty volumes, bound to full library standards and will be issued to subscribers from Autumn 1978 at the rate of two volumes per month. Individual titles in the series will not be avail¬able. The collection is limited to one hundred and twenty-five sets throughout the world.

On completion of this series, librarians and scholars will have at their disposal the finest collection of works of historic accounting literature possible. The availability of such a substantial and detailed body of information will prompt new research in this field and provide a rich quarry for new investigation.

Prospectus available on request 75 titles in 50 volumes £2500.00/$5000.00
SCOLAR PRESS
39, Great Russell Street, London WCIB 3PH, England

Announcement

SELECTED CLASSICS IN THE HISTORY OF BOOKKEEPING
A Reprint Collection

– NOW AVAILABLE FOR IMMEDIATE DELIVERY -SERIES III 1977 – Not previously Announced

1. DE ROOVER, Raymond, Le Livre de Comptes de Guil-
hum Ruyelle, Changeur à Bruges (1369). [Extrait des Annales
de la Société d’Emulation de Bruges, Tome LXXVlll] Réim-
pression 1977. Bruges,1934. pp. l5-95 (81p.) Cloth $12.50

2. DE WAAL, P.G.A., De Engelsche Vertaling van Jam Impyn’s
Nieuwe Instructie. (Economisch-Historisch Jaarboek: Bijdragen
tot de Economische Geschiedenis van Nederland uitgegeven
door De Vereenging het Nederlandsch Economisch Historisch
Archif, Achttiende Dee l, 1934] Reprinted 1977. ‘s-Gravenhage,
1934. 58p. Cloth $12.50
ch Historisch
. ‘s-Gravenhage, Cloth $12.50

3. HÜGLI, Franz, Die Buchhaltungs-Systeme und Buchhal-
tungs-Formen: Ein Lehrbuch der Buchhhaltung. Mit über
hundert Formularen und zwei Holzschnitten. Neudruck 1977.
Bern. 1887. xii, 680 S. Ln. $69.50

4. KEMPIN, W., Vom Geist der Buchführung. Neudruck 1977.
Köln. 1910. 192 S. Ln. $24.00

5. LION, Max, Geschichtliche Betrachtungen zur Bilanztheorie
bis zum Allgeminen deutschen Hadelsgesetzbuch. Neudruck
1977. Berlin, 1928. iii, 39 S. Ln. $12.50

6. MURRAY, David, Chapters in the History of Bookkeeping,
Accountancy and Commercial Arithmetic. Reprinted 1977.
Glasgow. 1930. viii, 519p. Cloth $39.50

7. NlRRNHElM, Hans(Bearb.), Das Handlungsbuch Vickos
von Geldersen. Hrsg. vom Verein für Hamburgische Geschichte.
Neudruck 1977. Hamburg/Leipzig, 1895. lxxix, 199 S.
Ln. $31.50

8. SIEVEKING, Heinrich, Die Casa di S. Giorgio. [Genueser
Finanzwesen mit besonderer Berücksichtigung der Casa di S.
Giorgi, .II] Neudruck 1977. Freiburg,, 1899. xvi. 259 S.
Ln. $30.00

9. STROOMBERG, J., Sporen van Bockhouding voor Paciolo.
[Overdruk uit J. G. Ch Volmer: Van Boekhouden tot
Bedrijfsleer, een Bundel opstellen ter Gelegenheid van zijn
Vijfentwintig Jarig hoogleeraarschap door oud-studenten
boden ] Reprinted ^77 Woessen, 1934. pp. 246-269.
aangeb (24p.)
ntwintig >,bodenj
Cloth $12.50

10. VLAEMMINCK, Joseph-H., Histoire et Doctrines de la
Comptabilité. [Université Catholique de Louvain. Faculté
des Sciences Economiques et Sociales. Collection des L’Ecole
des Sciences Economiques, No. 52] Reimpression 1977.
Bruxelles, 1956. 231p. Cloth $27.50
ALREADY PUBLISHED

SERIES I Available – Previously Announced

1. ANYON James T., Recollections of The Early Days of
American Ac coutancy 1883-1893. New York 1925. Reprint.¬
ed 1974. 68p. Cloth $12.50

2. CRIVELLI, Pietrod, An Original Translation of the Treatise
on Double-Entry Book-Keeping by Frater Lucas Pacioli.
London 1924. Reprinted 1974. XVIII, 125p. Cloth $21.50

3. GREEN, Wilmer L., History and Survey of Accountancy.
Brooklyn 1930. Reprinted 1974. 288p. Cloth $25.00

4. JÄGER, Ernst Ludwig, Die altesten banken und der
Ursprung des Wechsels: Supplement. Stuttgart 1881. Neudruck
1974. VIII, 91 S. Ln. $12.50

5. JÄGER, Ernst Ludwig, Die Berechtigung der einfachen
Buchhaltung gegenüber der italienischen. Dritte, durch die
Geschichte der Buchhaltung und deren Unterwendung aufdie
Landwirtschaft, sowie bezüglich des kaufmännischen Theils
vermehrte Aufl. Stuttgart 1868. Neudruck 1974. IV, I47S.
Ln. $21.50

6. JÄGER, Ernst Ludwig, Der Traktat des Lucas Paccioli von
1494 über den Wechsel: Vortrag gehalten am 22. März 1878
vor dem kaufmännischen Vereine von Stuttgart. Stuttgart
1878. Neudruck 1974. 40 S. Ln. $12.50

7. JÄGER, Ernst Ludwig, Der Wechsel am Ende des 15.
Jahrhunderts: Ein Beitrag zum Paccioli-Jubiläum1494-1894.
Stuttgart l895. Neudruck 1974. 29 S. + 1. Ln. $12.50

8. KHEIL, Carl Peter, Benedetto Cotrugli Raugeo: Ein Beitrag
zur Geschichte der Buchhaltung. Wien 1906. Neudruck 1974.
36 S. Ln. $12.50

9. PERAGALLO, Edward, Origin and Evolution of Double
Entry Book-keeping: A Study of Italian Practice from the
Fourteenth Ccntury. New York 1938. Reprinted 1974. 156p.
Cloth $32.50

10. SIEVEKING. Heinrich, Aus Genueser Rechnungs- und
Steuer-büchern: Ein Beitrag zur mittlelalterlichen Handels und
Vermögensstatistik. Wien 1909. Neudruck 1974. 110 S.
Ln. $13.00

11. SIEVEKING, Heinrich, Genueser Finanzwesen vom 12. bis

14. Jahrhundert. Leipfzig/Tübingen 1898. Neudruck 1974.
XV, 219S. Ln. $24.50

12. WOOLF, Arthur H., A Short History of Accountants and
Accountancy. London 1912. Reprinted 1974. XXXI. 254p.
Cloth $21.50

SERIES II Available – Previously Announced

1. DE WAAL, P.G.A., Van Paciolo tot Stevin: Een Bijdrage tot
de Leer van het Boekhouden in de Mderlanden Roermond
1927. Reprinted 1975 IX. 318p. Cloth $28.50

2. ELDRIDGE, H. J., The Evolution of the Science of Book¬
keeping. Second Edition by Leonard Frankland. London
1954. Reprinted 1975. 70p. Cloth $12.50

3. GEIJSBEEK, John B., Ancient Double-Entry Bookkeeping:
Lucas Pacioli’s Treatise (A. D. 1494 – The Earliest Known
Writer on Bookkeeping) Reproduced and Translated with
Reproductions, Notes and Abstracts from Manzoni, Pietra,
Ympyn, Stevin and Dafforne. Denver, 1914. Reprinted 1975.
IV, 182p. Folio. Cloth $38.50

4. GOMBERG, Léon, Histoire critique de la Théorie des Com¬
ptes. Genève 1929. Reprinted 1975. 88p. Cloth $12.50

5. LEYERER, C., Theorie und Geschichte der Buchhaltung:
Ein Leitfaden. Brünn 1919. Neudruck 1975. 40 S.
Ln. $12.50

6. SIEVEKING, Heinrich, Aus venetianische Handlungs-
büchern: Ein Beitrag zur Geschichte der Grosshandels im 15.
Jahrhundert. [Jahrbuch für Gesetzgebung. Verwaltung und Volkswirtschaft im Deutschen Reich: Neue Folge. 25.-26. Jahrg.] Leipzig, 1901/2. Neudruck 1975. 72 S. Ln. $12.50

7. SYKORA, Gustav, Systeme. Methoden und Formen der
Buchhaltung: Von ihren Anfangen bis zur Gegenwart. Wien,
1952. Neudruck 1975. 114 S. Ln. $13.00

Please send your orders to
NIHON SHOSEKI , LTD. • 2-11, Esakacho 2-chome, Suita City, Osaka 564, Japan

Announcement

Third International Congress of Accounting Historians
The Academy of Accounting Historians The Accounting History Society
LONDON 1980
London, 1980 is to be the venue of the Third International Congress of Accounting Historians. The dates will be 16 to 18 August, and the location will be the London Business School, at Sussex Place, Regent’s Park, London NW1 4SA.
The First International Congress of Accounting Historians was held in Brussels in 1970, and the Second Congress in Atlanta, Georgia, in 1976. At both there was a wide spread of nationalities among speakers and participants.
As 1980 will also be the centenary year of The Institute of Chartered Accountants in England and Wales, London is par-ticularly appropriate for the Third Congress.
A call for papers to be presented at the Third Congress has been circulated. Anyone who would like to offer a paper is invited to contact Professor R. H. Parker, B.Sc.(Econ.), F.C.A., Department of Economics, University of Exeter, Amory Build¬ing, Rennes Drive, Exeter EX4 4RJ.
The organisers of the Third Congress will be the Accounting History Society (England), whose Congress Working Party has already met several times. The Academy of Accounting His¬torians (U.S.A.) will assist. The Convener of the Working Party is Mr. John Freear, M.A., F.C.A., Faculty of Social Sciences, Rutherford College, The University, Canterbury, Kent CT2 7NX.

THE ACADEMY OF ACCOUNTING HISTORIANS

WORKING PAPERS 1-20 VOLUME 1
There is now available a single, 368 page, bound volume of the first 20 working papers to be published by The Academy of Accounting Historians. This 6″ x 9″ book includes the following: Working Paper Number
1. “The CPA’s Professional Heritage, Part I,” by John L. Carey.
2. “The Audit of Historical Records As a Learning Device in Studying
Environmental and Socio-Economic Influences on Accounting,” by Richard H. Homburger.
3. “The Accounts of Ancient Rome,” by Kenneth S. Most.
4. “Survey of the Development of Auditing in Germany,” by Rosa-
Elisabeth Gassmann.
5. “The CPA’s Professional Heritage, Part II,” by John L. Carey.
6. “A Chronological Index Prepared for John L. Carey’s The Rise of the
Accounting Profession, Volume 1, 1896-1936,” by Gary John Previts.
7. “The State of Bookkeeping in Upper Germany at the Time of the
Fuggers and Welsers,” by Hermann Kellenbenz.
8. “A Chronological Index Prepared for John L. Carey’s The Rise of the
Accounting Profession, Volume II, 1937-1970,” by Gary John Previts.
9. “A Bibliography on the Relationship Between Scientific Management
and Standard Costing,” by Marc J. Epstein.
10. “A Significant Year (1873) in the History of Bookkeeping in Japan,”
by Kojiro Nishikawa.
11. “Historical Development of Early Accounting Concepts and Their
Relations to Certain Economic Concepts,” by Maurice S. Newman.
12. “Thirty-six Classic Articles from the 1905-1930 Issues of The Journal
of Accountancy,” by Richard Vangermeersch.
13. “The Development of the Theory of Continuously Contemporary
Accounting,” by R. J. Chambers.
14. “The CPA’s Professional Heritage, Part III,” by John L. Carey.
15. “Two Papers on the History of Valuation Theory (I. Management Be-
havior on Original Valuation of Tangible and Intangible Fixed Assets. II. The Significance of Write-ups of Tangible Fixed Assets in the 1920’s),” by Richard Vangermeersch.
16. “The Golden Anniversary of One of Accounting History’s Mysterious
Contributors: Albert DuPont,” by Gary John Previts and S. Paul Garner.
17. “Evidential Matter Pertaining to the Historical Development of the
Concepts of Disclosure and Its Uses as a Teaching Aid,” by Hans V. Johnson.
18. “The Evolution of Pooling of Interests Accounting: 1945-1970,” by
Frank R. Rayburn.
19. “The Study of Accounting History,” by Vahe Baladouni.
20. “The Evolution of Corporate Reporting Practices in Canada,” by
George J. Murphy.
Cost: $5 to members of The Academy of Accounting Historians $7.50 to non-members ORDER FROM: Edward N. Coffman
Department of Accounting
School of Business
Virginia Commonwealth University
Richmond, VA 23284 USA Make Checks Payable to: THE ACADEMY OF ACCOUNTING HISTORIANS

Announcement

Reprinted and Now Available
THE ACADEMY OF ACCOUNTING HISTORIANS
Monograph # 1
A Reference Chronology of Events Significant to the Development
of Accountancy in the United States
by Knight, Previts & Ratcliffe
paperback — 102 pp. $3.00
Order from: The Academy of Accounting Historians
Box 6999 University, Alabama 35486

A History of ACCOUNTING THOUGHT
by Michael Chatfield
This book is recognized, by scholars and librarians, as a standard reference work on accounting history.
The original edition has now been biblio-graphically updated in each chapter and is again available for business school majors, accounting specialists, economists and history majors.
Orig. ed. 1974 320 pp.
Revised ed. 1977
Hard Cover $16.50 Paperback $9.50
KRIEGER Publishing Co., Inc. 645 N.Y. Ave., Huntington, N.Y. 11743

Reprints in the ACCOUNTING HISTORY CLASSICS SERIES
under the auspices of The Academy of Accounting Historians
and
The University of Alabama Press Gary John Previts, Series Editor
Volume 1 S. Paul Garner Evolution of Cost Accounting to 1925
$6.50 430 pp. paperback edition. November, 1976.
ISBN 0-8173-8900-8
Volume 2 James Don Edwards, History of Public Accounting in the United States
$7.50 368 pp. paperback edition. August, 1978. ORDER NOW
The University of Alabama Press
Box 2877 University, Alabama 35486

Announcement
NOW AVAILABLE
MONOGRAPH #2 The Academy of Accounting Historians
JOHN RAYMOND WILD MAN (1878-1938)
by
GARY JOHN PREVITS RICHARD F. TAYLOR
*
Paperback, 84 pages $4.50
Box 6999 University, AL 35486
THE ACADEMY OF ACCOUNTING HISTORIANS APPLICATION FOR MEMBERSHIP
Name (please print)
Organization
Street Address
City State
ZIP Code County
Phone No. ( )
Accounting History Areas of Interest
Our fiscal year ends December 31.
Annual Dues $10.00
Subscription — Accounting Historians Journal 1-year $ 5.00
Contribution to Support Doctoral research
3rd Congress
Total enclosed $
Make checks payable to: THE ACADEMY OF ACCOUNTING HISTORIANS
Mail to: The Academy of Accounting Historians P.O. Box 6999 University, AL 35486

Announcement

A HISTORY OF ACCOUNTING IN AMERICA An Historical Interpretation of the Cultural Significance of Accounting
Gary John Previts, C.P.A., Case Western Reserve University, & Barbara Dubis Merino, New York University
This unique book describes the growth of professional accounting in America as a developing, vital discipline. Initially descriptive, the book becomes in¬creasingly analytical in examining the issues and influences that have marked the dynamic environment of the past fifty years. Nine chapters consider the social, political, economic, and personal elements of each generation—from Puritan to modern times. Covering the development of accounting theory, education, ethics, and practices, this book gives you an unparalleled over¬view of the growth of American accounting. (0 471 05172-1) July, 1979 380 pp. $17.95 (tent.) Mail to: Ronald Press
P.O. Box 092
Somerset, N.J. 08873
• Payment enclosed, plus sales tax. Wiley pays postage/handling. We
normally ship within 10 days. If shipment cannot be made within 90 days, payment will be refunded.
• Bill me. • Bill firm or institution.
NAM E
AFFILIATION
ADDRESS _
CITY STATE/ZIP
Prices subject to change without notice.

Announcement

THE ACCOUNTING REVIEW

The Accounting Review is the official journal of the American Accounting Association, and is published quarterly. The Asso-ciation is a voluntary organization of persons interested in ac-counting education and research. Membership in the Associa¬tion entails annual dues of US$25 for residents of the United States and Canada and US$12 for others. Libraries may take out subscriptions to the Review. All communications regarding membership and subscriptions should be sent to the American Accounting Association, 5717 Bessie Drive, Sarasota, Florida 33583.
TABLE OF CONTENTS OCTOBER, 1979
MAIN ARTICLES
An Entity-Relationship View of Accounting Models
William E. McCarthy
A General Decision Model for Cost-Volume-Profit Analysis Under Uncertainty
Wei Shin
Effects of Budgetary Goal Characteristics on Managerial Attitudes and Performance
Izzettin Kenis
An Analysis of Differences Between Nonmajor Oil Firms Using Successful Efforts and Full Cost Methods
Edward B. Deakin III
Value and Events Approaches to Accounting: An Experimental Evaluation
Izak Benbasat and Albert S. Dexter
Owners’ Equity, The Anachronistic Element
Richard A. Scott
Canning’s The Economics of Accountancy — After 50 Years
R. J. Chambers

Announcement*

Professor Edward N. Coffman, of Virginia Commonwealth University, Richmond, is Editor of The Academy’s working paper series.
The series currently includes 35 titles (see list) and represents an effective means of circulating preliminary research or topics for critique by others qualified and inter¬ested in doing so. Manuscripts for the series, and questions relating to format should be submitted to Professor Coffman, School of Business, Virginia Commonwealth Uni¬versity, Richmond, Va. 23284.

The manuscript submitted should be in conformity with the format rules described in the April, 1973 Accounting Review, with all footnotes at the end in a listing. Material should be submitted in a final form suitable for clean reproduction. Manu¬scripts from eight to thirty pages in length are deemed most appropriate for this series. Copies of the working papers are provided free upon request to members. There is a service cost price of $2.00 per copy to non-members.

21. Early Greek Accounting on Estates (Fourth
Century B.C.), by George J. Costouros.
22. The Traditional Accounting Systems in the
Oriental Countries — Korea, China, Japan,
by Jong Hyeon Huh.
23. The Evolution of Ethical Codes in Account¬
ing, by J. C. Lambert and S. J. Lambert.
24. The Oldest Book on Double Entry Book¬
keeping in Germany, Kiyoshi Inoue.
25. An Annotated Bibliography for Historical
Research in Cost Accounting, by Edwin Bar-
tens te in.
26. The Role of Academic Accounting Research:
An Historical Perspective, Eric Flamholtz.
27. The Structure of Scientific Revolutions and
its Implications for the Development of Ac¬
counting Policy, by Diana Flamholtz.
28. Development of Accounting in Hungary
from 1945. by R. L. Scholcz, President
Hungarian Association of Auditors.

29. Historic Origins of the Purchase vs. Pooling
of Interests Problem, by Wesley T. Andrews,
30. Current Efforts to Develop a Conceptual
Framework for Financial Accounting and
Reporting, by William G. Shenkir.
31. Influence of Nineteenth and Early Twen¬
tieth Century Railroad Accounting on De¬
velopment of Modern Accounting Theory,
by James L. Boockholdt, University of
Houston.
32. The Historical Development of Standard
Costing Systems Until 1920, by Nathan
Kranowski, Radford College.
33. The CPA’s Professional Heritage, Part IV.
“The Birth of the SEC”, by John L. Carey.
34. The Evolution of Accounting Theory in
Europe from 1900 to the Present Day and
its implications on industrial management
of tomorrow, by Paul Weilenmann.
35. Sombart on Accounting History, by Kenneth
S. Most, Florida International University.

*See Accompanying Announcement in this issue regarding the working paper monograph containing papers 1-20.

GUIDE FOR SUBMITTING MANUSCRIPTS
The Academy of Accounting Historians invites manuscripts on subjects related to accounting history for The Accounting Historians Journal. Articles should have scholarly merit and present an original contribution to the knowledge in the field. Articles presenting the results of research from primary sources will be given preference. All articles will be reviewed by two or more members of the Editorial Board. The journal is scheduled to appear each Spring and Fall.

Manuscripts should be in English and of acceptable style and organization for clarity of presentation. Submit three copies double spaced on 8% x 11 inch paper. The manuscript should not exceed 5,000 to 7,000 words. The title page should contain name of author, affiliation and address for further correspondence. The title should reappear on the first page of the manuscript but the author should not be identified.

Tables and figures should be numbered, titled and presented in reproducable form. Limited use of original documents etc. can be accommodated in the Journal at modest additional cost to the author by submitting camera-ready copy. Impor¬tant textual materials may be presented in both the original language together with the English translation.

Footnote numbers must be referenced within the article in sequence. The bibliography should contain full reference to sources arranged in alphabetical order by author. Informational footnotes are to be presented at the bottom of the page referenced by letters and should be limited in size and number. Consult a previous number of the Journal for examples.
Proofs. Galley proofs will be sent to the author as permitted by scheduling but additions of new material must be strictly limited and excessive alterations will be charged to the author. Ten copies of the Journal on publication will be provided to the author.

Abstract. An abstract of the article will precede the printed article, and should be submitted with all manuscripts. Abstract should not exceed 100 words.
Reprints. Authors may order reprints with covers of their articles from the printer. Costs of these are billed directly to the author by the printer. Minimum order 100, prices to be established by printer.

Submit manuscripts to:

Professor Williard E. Stone University of Florida Bryan Hall Gainesville, FL 32611
Subscription can be obtained at the annual rate of $5.00 (for members) or $7.50 (for non-members) by sending orders to: Historians Journal, Drawer HJ, University, AL 35486, or by writing the Secretary of the Academy and paying the subscription in addition to dues.