INFLUENCE OF NINETEENTH AND EARLY TWENTIETH CENTURY RAILROAD ACCOUNTING ON THE DEVELOPMENT OF MODERN ACCOUNTING THEORY

1 March 1978

journal article
Published by American Accounting Association in Accounting Historians Journal

Vol. 5 (1) , 9-28
https://doi.org/10.2308/0148-4184.5.1.9

Abstract

This article is concerned with the problems of nineteenth century railroad asset valuation. The article presents some legal reasons for the early use of depreciation and continues with specific illustrations of railroad financial statements in the 1840s. The article concludes by stating that many of the basic concepts of accounting theory such as disclosure, matching measurement of cash flow had origins in railroad accounting.

Keywords

NINETEENTH
CENTURY
RAILROAD
ACCOUNTING THEORY
CASH
FLOW
ILLUSTRATIONS
STATEMENTS
1840S

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