Financial Statements and Positive Accounting Theory. The Early Contribution of Aldo Amaduzzi

19 Pages Posted: 17 Apr 2005

Date Written: September 1, 2005

Abstract

This paper examines some of the accounting ideas that were developed in 1949 by an Italian professor, Aldo Amaduzzi, with regards to positive accounting studies and the content of financial statements. The paper briefly reviews the aim, methodological assumptions and key findings of the so called positive accounting theory based on the works of Jensen (1976), Watts (1977) and Watts and Zimmerman (1978; 1986). The analysis of the early work of Amaduzzi on the contents of financial statements as the equilibrium outcome of a conflict of interests between corporate stakeholders shows that many of the methodological issues on accounting theory stressed by the so called Rochester school of accounting were raised by Amaduzzi (1949). The paper concludes that although some key differences between the Rochester school of accounting and Amaduzzi's thought do exist, the latter may be considered a forerunner of positive accounting theory.

Keywords: positive accounting theory, accounting history, financial statements, conflict of interests, Italy, stakeholder theory.

JEL Classification: M40, M41, M21

Suggested Citation

Melis, Andrea, Financial Statements and Positive Accounting Theory. The Early Contribution of Aldo Amaduzzi (September 1, 2005). Available at SSRN: https://ssrn.com/abstract=695041 or http://dx.doi.org/10.2139/ssrn.695041

Andrea Melis (Contact Author)

University of Cagliari ( email )

Dipartimento di Scienze economiche ed aziendali
Viale S. Ignazio 17
Cagliari, 09123
Italy
+39-070-6753302 (Phone)
+39-070-6753321 (Fax)

HOME PAGE: http://people.unica.it/andreamelis

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