Abstract This article probes into the foundations of conventional accounting measurements in order to construct a relatively simple axiom system on which a purely mathematical measurement system can be erected and thus provide a consistent basis for examining pertinent aspects of conventional accounting practices. The mode of development-needs to be distinguished from other, prior, attempts to axiomatize accounting. Unlike the attempt by some economists the object of the analysis is to develop and elucidate a uniform approach to conventional accounting measurement as such. That is, one take conventional accounting measurement as given rather than, seeking to prescribe what one think accounting measurement should be. Conventional accounting is analyzed from a purely mathematical viewpoint of measurement. It consider any two accounting systems as being equal if the measures derived from the systems are equal for any set of inputs to the systems. An emphasis is placed on a double classification scheme in accounting distinctions are not made in analysis between an accounting system based upon double-entry book- keeping and an accounting system based upon single-entry bookkeeping as long as methods of recording do not affect the measure which is of primary interest.
Yuji Tjiri (Fri,) studied this question.