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Corporations, Accounting, Securities Laws, and the Extinction of Capitalism
book

Corporations, Accounting, Securities Laws, and the Extinction of Capitalism

by Wm. Dennis Huber
July 2022
Intermediate to advanced content levelIntermediate to advanced
198 pages
6h 31m
English
Routledge
Content preview from Corporations, Accounting, Securities Laws, and the Extinction of Capitalism

6Accounting and Generally Accepted Accounting Principles

DOI: 10.4324/9781003240969-9

Introduction

Accounting is responsible in large part for the rise of bourgeois capitalists and capitalism while at the same time is responsible in an equally large part for their demise.

On the one hand, accounting—the double-entry bookkeeping part of accounting—had a major influence on the development of bourgeois capitalists and capitalism through the creation of the capital account and the separation of business assets from personal assets. Invented centuries prior to capitalism and bourgeois capitalists, double-entry bookkeeping was imported by bourgeois capitalists from mercantilists thus enabling the spirit of capitalism to prevail.

On the other hand, ...

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Publisher Resources

ISBN: 9781000600995