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March 15, 2026The Accounting Review

Should We Discard the Income Concept?

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Authors

MMMaurice Moonitz

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Overview

This analysis questions fixed and variable costs and their relation to net profit, suggesting a need for reform in accounting practices.

Key Points

  • To examine the criticisms of the income concept in accounting and its implications for profit measurement.
  • Analysis of historical perspectives on income statements
  • Evaluation of criticisms regarding revenue realization rules
  • Assessment of the relevance of fixed and variable cost classifications
  • Identified limitations in current profit measurement practices
  • Highlighted concerns about the narrow scope of traditional accounting methods
  • Noted that subjective expectations complicate income assessment

Cite This Study

Maurice Moonitz (1962) studied this question.

synapsesocial.com/papers/69b606d583145bc643d1d2eehttps://doi.org/10.2308/tar-7098292
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1THE MEASUREMENT AND ADMINISTRATION OF INCOME.1949
  2. 2A CASE AGAINST THE IDEA OF AN ALL--PURPOSE CONCEPT OF BUSINESS INCOME.1954
  3. 3FIXED ASSETS AND CURRENT COSTS.1953
  4. 4ECONOMIC AND ACCOUNTING CONCEPTS OF INCOME.1961
  5. 5DEFINITIVE INCOME DETERMINATIONS: THE MEASUREMENT OF CORPORATE INCOMES ON AN OBJECTIVE SCIENTIFIC BASIS.1948