Reviewed by Gadis J. Dillon The University of Georgia
As the author notes in her introduction, it requires considerable time to find, read and appreciate the philosophy expressed in the many writings of a prolific author. This is especially true if the writings were published a number of years ago. In his career covering the period 1920-1966, Littleton had over 300 publications, many of which must be read to appreciate his basic philosophy and its implications. Buckner provides a concise summary, intended to “develop insight as to his consistency of treatment, the evaluation of his thoughts over the years, and his possible impact and influence upon the development of accounting thought.” (p. 5)
The bulk of the volume is devoted to a chronological review of Littleton’s works on: 1) basic approach and views on accounting principles; 2) income determination as the central theme of accounting; and 3) the prestige of historical cost. An appendix provides a chronological listing of all Littleton’s publications. Another appendix provides a brief biography.
Buckner does a thorough job of summarizing Littleton’s positions with respect to the above areas. This summary should be useful to anyone seeking an understanding of the evolution of accounting thought in the period 1925-1 960. Certainly Littleton provided an articulate and consistent theoretical foundation for many of the ac-counting procedures adopted by the accounting profession during his professional career.
There is no question that Littleton was a major contributor to accounting development. Furthermore Buckner obviously admires Littleton, which is not unusual given the extensive time and effort spent reviewing his life and writings. However, Buckner may impute to Littleton more influence than warranted. For example, in noting Littleton’s unyielding support of historical cost, she concludes that “If Littleton had been more flexible in his view, it is possible that certain changes which are taking place today might have already been an integral part of today’s body of accounting theory and practice.” (p. 219) Littleton was indeed a leading advocate of historical cost, but his or any other one individual’s defec-tion would have had little impact on its universal adoption and use.
Overall, this volume provides an excellent and extensive summary of the positions and philosophy of a leading contributor to the accounting literature of the twentieth century. The listing of Littleton’s published works and the bibliography are also helpful. Anyone without access to or time for reading Littleton’s publications in the original will find this volume interesting and useful.
