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March 18, 2026The Accounting Review

The Critical Event and Recognition of Net Profit.

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Authors

JMJohn Holt Myers

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Overview

The article reviews net income principles and accounting practices, suggesting a compatible economic framework.

Key Points

  • The article aims to review the concept of net income and propose a principle aligning economic theory with accounting practice.
  • Reviewed economic concepts of net income and accounting procedures.
  • Examined specific business situations regarding profit recognition.
  • Explored the evolution of cost and revenue matching in accounting.
  • Established cost and revenue matching as a key accounting principle.
  • Identified entrepreneurship as the fourth factor of production.
  • Defined profit as the reward for assuming business risks.

Cite This Study

John Holt Myers (1959) studied this question.

synapsesocial.com/papers/69ba427c4e9516ffd37a2cb1https://doi.org/10.2308/tar-7057766
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Also Consider

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

  1. 1The Accounting Concept of Profit: An Analysis and Evaluation in the Light of the Economic Theory of Income and Capital.1973
  2. 2FIXED ASSETS AND CURRENT COSTS.1953
  3. 3THE IMPORTANCE OF UNDERSTANDING INCOME AND PROFITS.1935
  4. 4CONTEMPORARY THEORIES OF CORPORATE PROFITS RECORDING.1949
  5. 5SHOULD WE DISCARD THE INCOME CONCEPT?1962