What question did this study set out to answer?

The objective is to clarify the elements of accounting through the lens of internal control based on property transactions.

The Flow of Property as a Basis of Internal Control.

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This article discusses internal accounting practices and their implications for asset and equity management.

The objective is to clarify the elements of accounting through the lens of internal control based on property transactions.
Analysis of accounting theories and practices
Interpretation of assets and equities in accounting
Discussion of transaction flows in business properties
Accounting is fundamentally based on the dual concept of property as assets and ownership rights as equities.
Assets and equities respond primarily to the transaction flow of actual business properties.
Legal and accounting changes can conflict, potentially altering the interpretation of equities.

Warner H. Hord (1939) studied this question.

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