Title: A step towards a general theory of accounting valuation

Authors: Gabriel D. Donleavy

Addresses: School of Business, University of Western Sydney, Australia

Abstract: Accounting appropriates the construct of value to denote exchange value and then propagandises it with the badge 'fair' value. With most theory building the positive task is harder than the normative one, but in accounting, positive theory of valuation is completely circumscribed by the assumed needs and wants of the investor, speculator and their advisors. A normative theory would need to identify basic principles of accountability and fiduciary duty, a coherent set of accountability boundaries to clear the ground. The paper moves from these general considerations to the particular issues involved in accounting for, and accounting to, labour in a way that could reasonably be deemed useful to its constituents.

Keywords: exchange value; Marx; fair value; labour; general theory; accounting valuation theory.

DOI: 10.1504/IJEA.2014.067227

International Journal of Economics and Accounting, 2014 Vol.5 No.3, pp.269 - 280

Received: 08 May 2021
Accepted: 12 May 2021

Published online: 01 Feb 2015 *

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