Financial Accounting and the Economic Crisis

Authors

  • Ярослав Вячеславович Соколов St. Petersburg State University, 7–9, Universitetskaya nab., St. Petersburg, 199034, Russian Federation

Abstract

In this article, it is shown how accounting methods applied may affect the economic growth unsupported with sufficient financial resources. The experience of 1929 and conclusions made in bookkeeping and economics in that time are analyzed. The first example is about LIFO, FIFO and direct costing methods. The second instance concerns recommendations of J. M. Keynes and L. von Mises. Both are analyzed in the light of present events.

Keywords:

crisis, inflation, unemployment benefit, borrowing costs, balance-sheet, double entry, revaluation

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Author Biography

Ярослав Вячеславович Соколов, St. Petersburg State University, 7–9, Universitetskaya nab., St. Petersburg, 199034, Russian Federation

доктор экономических наук, профессор, заведующий кафедрой статистики, бухгалтерского учета и аудита

References

Литература на русском языке

Жид Ш., Рист Ш. История экономических учений. М., 1995.

Пачоли Л. Трактат о счетах и записях. М., 2001. С. 45.

Степун Ф. А. Встречи. М., 1998. С. 222.


References in Latin Alphabet


Translation of references in Russian into English

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Published

2009-06-30

How to Cite

Соколов, Я. В. (2009). Financial Accounting and the Economic Crisis. St Petersburg University Journal of Economic Studies, (2), 012–019. Retrieved from https://economicsjournal.spbu.ru/article/view/3321

Issue

No. 2 (2009)

Section

The Global Financial and Economic Crisis: Causes and Consequences

License

Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.