Abstract
Companies which last for many years need to account regularly, and quite frequently, to their owners. But ‘going concerns’ often have much unfinished business at the end of their financial year, which leads to a need for estimates in the accounts, and it can be difficult to allocate income and expenses between accounting periods. Moreover the shorter the accounting period, the larger the proportionate margin of error in reported profit or loss.
What is a short period for one problem is a long period for another.
Alfred Marshall (1890/1964, p. vii)
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© 2009 D. R. Myddelton
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Myddelton, D.R. (2009). The ‘Interim-ness’ of Accounts. In: Margins of Error in Accounting. Palgrave Macmillan, London. https://doi.org/10.1057/9780230595019_2
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DOI: https://doi.org/10.1057/9780230595019_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-30539-1
Online ISBN: 978-0-230-59501-9
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