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March 18, 2026The Accounting Review

Legal Background for the Accounting Concept of Realization.

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Authors

FWFloyd W. WindalUniversity of Georgia

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Implication

This analysis outlines the evolution of the realization concept in income law, highlighting its significance.

Key Points

  • The aim is to trace the historical development of the legal concept of realization in income accounting.
  • Analysis of historical tax laws from 1861 to 1909.
  • Examination of the evolution of income definition in legal contexts.
  • Review of key judicial interpretations regarding the realization of income.
  • Realization requires evidence of cash transactions, evolving from strict cash receipts to account receivables.
  • The legal definition of income transitioned from net worth change to cash excess.
  • Judicial interpretations began recognizing income as gains from capital and labor.

Cite This Study

Floyd W. Windal (1963) studied this question.

synapsesocial.com/papers/69ba428e4e9516ffd37a2e3dhttps://doi.org/10.2308/tar-7101032
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Also Consider

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

  1. 1REALIZED INCOME.1929
  2. 2How Should We Interpret the Realization Concept?1965
  3. 3TESTS OF INCOME REALIZATION.1941
  4. 4THE SALE AS A TEST OF INCOME REALIZATION.1939
  5. 5Observations Concerning the Realization Concept.1965