Julius Caesars contribution to the World - Free Essay Example

Sample details Pages: 7 Words: 2173 Downloads: 7 Date added: 2019/03/26 Category History Essay Level High school Tags: Julius Caesar Essay Did you like this example? Some people argue that Caesar was a selfish power-hungry emperor while others believe he was an intelligent strategist who developed revolutionary ideas that are still used today. To investigate these claims, several topics will be researched including the details of his rule and the many changes he made to develop Rome into an empire. Some specific research topics include Caesars rise to power (The First Triumvirate), Caesars expansion of the Roman empire, the conversion of Rome from a republic into an empire, and Caesars reform for the city of Rome. Don’t waste time! Our writers will create an original "Julius Caesars contribution to the World" essay for you Create order These topics will point out that even though the poorer classes idolized his many achievements, Caesars disregard for political procedures, powerful control of the military, and attempt to rule solely led to his untimely demise. The goal of the paper is to evaluate Caesars accomplishments and determine if he truly was a power-hungry ruler or an ambitious emperor who was too smart for his own good. Caesars rise to power began on either the 12th or 13th of July 100 BC when he was born to Gaius Julius Caesar and Aurelia Cotta into the Julii family (Wheeler). The father and uncle of Julius had ties to the party of Marius which was known as the popular party (Taylor). At the age of 16, Julius became the head of his household when his father passed away. By this time, Caesars uncle had risen to power and was named the consul which gave him the ability to appoint Julius to the position of High Priest of Jupiter (Wheeler). This was Caesars first taste of a position of power, but he desired more and married into a noble family after divorcing his first wife in order to set himself in a position of higher status (Wheeler). Caesars uncle was overturned as emperor and Caesar was stripped of his position as the High Priest of Jupiter by Sulla who had become dictator of Rome following the defeat of the Marius at the Battle of Colline Gate because he was unwilling to divorce his new wife to marry someone in Sullas family (Taylor). This incident led to the fleeing of Caesar to the East where he joined the Roman army in Turkey. He received the Civic Crown in honor of his bravery in the Siege of Mytilene (Wheeler). Caesar was then able to return to Rome following the death of Sulla in the year 78 BC, and he became a lawyer who was known for his ability to attack and defend in court (Wheeler). Caesar began his quick climb of the political ladder in 72 BC when he served as the military tribune for the year, and a quaestor in Spain, Rome following the death of his wife in 69 BC ( Wheeler). When Caesar returned from Spain, he married the granddaughter of Sulla and bribed his way into being elected Pontifex Maximus (Wheeler). Caesar later divorced this wife and was elected the governor of Spain which allowed him to create an unofficial alliance also known as the first triumvirate with Pompey and Crassus(Wheeler). This unofficial alliance was sealed when Caesar gave his daughter Julia to Pompey and was elected consul in the following year 59 BC (Wheeler). Through this election as consul, Caesar began to set the stage for his rise to power in the form of his Agrarian Bill which gave the wasteland in I taly to the soldiers and poor of Rome, gaining the support of the lower class and the soldiers. This election also set the stage for Caesar to become the governor of Roman Gaul in 58 BC (Wheeler). Caesars rise to power shows us the dedication and perseverance Caesar had to become something greater than what he was. We also see the abilities of Caesar in combat as he was awarded the Civic Crown and this set the stage for his success in his desire to expand the borders of Rome. Caesars new position as the governor of the Roman Gaul led to his desire to expand his rule over more land and the people who inhabited these lands, so he set his sights on conquering all of Gaul which led to the Gallic Wars (Wheeler). Caesar was able to win battle after battle in the conquest of Gaul, and it wasnt long before he was able to focus on other conquests such as extending the Roman territory deeper than ever into Germany beyond the Rhine (Wheeler). These conquests and victories groomed Caesar into a brilliant leader and strategist that would later go on to extend the empire of Rome to a magnitude greater than it had ever been before. The success that Caesar was having as a general led to unrest back home in Rome as Pompey was growing more wary of the power that Caesar was accumulating. Fights were constantly breaking out between supporters of Caesar and the supporters of Pompey, but Caesar was unaware of these events and continued to press on into Gaul in his conquest (Wh eeler). As Caesar continued to extend the Roman territory into new provinces, it raised questions as to whether Caesar was fighting for his own power, or for the good of the Roman empire and the people that were in it. This question is answered as Caesar, against the wishes of the Senate, crossed the Rubicon River. This action was very significant because it directly disobeyed the leaders in Rome and it was an act of war according to the law of the Roman Republic (Redonet). Why would Caesar choose to disobey a direct command and declare war? From the account of the historian Suetonius, it was stated that a man sent from the gods sounded a trumpet, and Caesar declared Take we the course which the signs of the gods and the false dealing of our foes point out. The die is cast (Redonet). This states that Caesar based his decision to declare war, disobey the Senate, and begin a civil war in Rome on this apparition sent from the gods. Caesars decision to directly disobey the law and Senate did, in fact, begin a war in Rome and began the end for the conquest of Gaul (Redonet). When Caesar subjugated Gaul, Rome gained a large increase in territory that protected it from invasions, but Caesar benefited from this victory the most in the form of war glory and Gallic gold that he used to pay off many Roman senators debt in exchange for their support (Redonet). This speaks volumes as to the man Caesar is. He disobeyed the law directly and began a war in the name of strengthening the power of Rome when the true intent was political gain and glory for himself. It shows that he was a superior war leader, but a corrupt individual with only the thirst for his own benefit. At the end of his conquest of Gaul, Pompey and his group of optimate allies obliged Caesar to give up his position as governor, dismantle his army, and lose his immunity that came with the position of governor (Redonet). The end of the Gallic wars marked the beginning of Caesars ascent to rule over Rome and the conversion of Rome from a republic to an empire. Caesar, even though he had broken Roman law would not resign his position of power as governor and decided he would remain governor and run for reelection the following year. Pompey and the optimates were set on taking away the power Caesar had accumulated and looked to the Senate to dismantle his army and elect a new governor, but once word of this reached Caesar, he decided he must defend himself politically and through his military power (Redonet). This again shows Caesars direct disobedience of those in positions greater than his own, supporting the idea that he was merely looking out for his own gain. He resorted to bribery in the senate to avoid losing his power and position. After the deadline for Caesar to resign his position, Pompey began to take actions against Caesar such as tricking Caesar into sending a legion of troops to Italy whe re Pompey then took control of them (Redonet). This only angered Caesar and the rivalry between himself and Pompey only grew until an all-out war was on the brink of occurring (Redonet). The Senate voted that Caesar and Pompey both dismantle their armies at the same time, but secretly asked Pompey to act against Caesar in order to preserve the republic (Redonet). The senates desire for Pompey to take action against Caesar while also declaring a mutual peace agreement take place was against the law. This shows that it was common practice to disobey the Roman law when it was seen as for the good of Rome. In Caesars eyes, he may have seen it as being for the good of the people when he previously crossed the Rubicon and broke the law, but this does show his corruption as a leader that he would break the law in order to achieve success. The Senate went on to vote to make Caesar a public enemy, but Mark Antony vetoed this action because he was Caesars ally (Redonet). The Senate continued their votings and decided that they needed to pull armies together in order to protect Rome from any attacks, and when Antony and Quintus Cassius attempted to combat this vote, they were forced to flee for their lives to Caesar in Gaul (Redonet). Caesar felt he had no choice but to use his loyal army in order to take power over Rome to avoid losing his own power a nd commenced his long war with Pompey and his many followers. Caesars struggle to end Pompey and his supporters brought him to Egypt where Pompey was killed by the Egyptian ruler Ptolemy XIII, and this is where Caesar helped Cleopatra VII, who would later play a role in Caesars ultimate demise, to win the civil war that was going on in Egypt (Redonet). Caesar was finally able to return to Rome after several more battles to defeat the remaining supporters of Pompey the Roman people had only one choice, to accept him as their powerful ruler (Hussein). Caesar went on to end the republic in Rome declared himself as dictator for life (Heather). Caesar once named the ruler of Rome drastically reformed the city of Rome in several ways. The most well-known change that took place was Caesars rule as the only individual with power over Rome who was self-appointed, whereas, before Caesar, they had a republic with an appointed official to rule with a set of written laws that acted as a constitution. He created a lasting effect in Rome. The name Caesar became the new name for all of the new rulers after Caesar and even carried over into many cultures (Karpf). With his new power, Caesar began the practice of placing an image of himself on the coinage, a practice that is now very common in todays world (Karpf). He also improved how the land and grain was distributed, often giving more to the poor and to the soldiers that fought for Rome (Redonet). He also established new forms of government across Italy, putting officials into power that he felt were fit to do the job (Redonet). Caesars actions pleased the commoners of Rome because h e gave land, food, and entertainment to them, but the other political figures in Rome grew jealous of him and the power he now had. Caesar had grown comfortable in his position of power, and was unaware of the plot that was going on around him that included his most trusted friends including Marcus Brutus The Assassination of Julius Caesar, 44 BC. Caesar lay dying beneath the statue of Pompey, a legendary general, a man who served the people, a corrupt politician who used bribery, and a self-proclaimed ruler of Rome. With the many reforms that Caesar had begun to make, he had only had about a year before this assassination took place. The closest friends of Caesar, the men he trusted most had deemed it the best interest of Rome to end his life, an act that again supports the idea that Julius Caesar wasnt the compassionate, caring leader he thought himself to be. Julius Caesar was one of the most successful war generals in Roman history who was able to extend the borders of Rome further than they had ever been before, but his success as a general led to his ultimate demise. He was a man hungry for power, so hungry that he was willing to break the laws of his people and create wars that killed many citizens in his quest for his power. The power he held caused him to change the way Rome ran, taking away the voice of the people and replaced it with what he thought was in their best interest. Julius Caesar did leave a lasting impression on the world, but it was not all in a positive way. Overall, Caesar was a power-hungry ruler who held himself above the law and ultimately caused his own downfall.

Marketing Strategy Of Black Ivory Coffee Essay - 1195 Words

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Poverty Point Culture Essay Example For Students

Poverty Point Culture Essay Poverty Point sites in Louisiana and western Mississippi exhibit the first major residential settlements and monumentalearthworks in the United States. Although the Poverty Point culture is not well understood in terms of social organization, it wasinvolved in the transportation of nonlocal raw materials (for example, shell, stone, and copper) from throughout the easternUnited States into the lower Mississippi River Valley to selected sites where the materials were worked into finished productsand then traded. While specific information on Poverty Point subsistence, trade mechanisms, and other cultural aspects is stillspeculative, the sites nevertheless exhibit specific material culture, such as baked clay objects, magnetite plummets, steatitebowls, red-jasper lapidary work, fiber-tempered pottery, and microlithic stone tools. By around 500 B.C., the Poverty Point culture was replaced by the Tchula/Tchefuncte Early Woodland culture, which existedin western Tennessee, Louisiana, south ern Arkansas, western Mississippi, and coastal Alabama. The sites of this lowerMississippi River Valley culture were small village settlements. Subsistence continued to consist of intensive collecting of wildplants and animals, as with the preceding Poverty Point culture, but for the first time quantities of pottery were produced. Thereappears to be a de-emphasis on long-distance trade and manufacture of lithic artwork noted in the earlier Poverty Point culture. The Tchula/Tchefuncte Early Woodland culture appears to have coexisted with some Middle Woodland cultures in the lowerMississippi River Valley. The pottery of this period appears to have been relatively crude and undecorated. The pottery isdistinctive in being thick, poorly fired and covered on the inside and outside by cord marking. Thiscord marking was probably the result of construction techniques in which clay was formed around abasket or bag before firing. Not all Early Woodland sites had pottery and some researchers suggestthat it was used only for part of the year, perhaps during the processing of acorns or other nuts fortheir oil. During this time period burials became even more elaborate with increased inclusion of statusartifacts. Some of these exotic artifacts show clear evidence of influence and contact with even moreelaborate and complex cultural groups to the south. In these areas, clearly complex and stratifiedsocieties, probably with full time chiefs and priests, had developed and were interacting with manyother widely distributed groups across North America. Exchange of exotic desirable goods such ascopper, silver, obsidian, sea shells and exotic, often colourful, cherts seems to have been the maingoal of this interaction sphere but, undoubtedly, the exchange of ideas was also important instimulating further development. Whether foods or furs for clothing was also exchanged is unknownat this time. The main characteristic, besides elaboration of burial practices, that distinguished the Early and Middle Woodland from LateArchaic traditions, was the gradual intensification of local and interregional exchange of exotic materials. For many yearsarcheologists have regarded as classic those Middle Woodland sites with elaborate ceremonial earthworks that contained theburial mound graves of elite individuals buried with exotic mortuary gifts obtained through an extensive trade network coveringmost of the eastern United States. Because of the similarity of earthworks and burial goods found at widely scattered sites inthe Southeast and the area north of the Ohio River, it was assumed that a cultural continuity-sometimes referred to as theHopewellian Interaction Sphere-existed throughout much of the eastern United States. At least some nonorganic trade items canbe identified from the study of the burial mounds of the Middle Woodland. To this trade, the Middle Woodland territories ofthe So utheast appear to have provided mica, quartz crystals, and chlorite from the Carolinas, and a variety of marine shells, aswell as shark and alligator teeth, from the Florida Gulf Coast. In exchange, the Middle Woodland clans of the Southeastreceived galena from Missouri, flint from Illinois, grizzly bear teeth, obsidian and chalcedony from the Rockies, and copperfrom the Great Lakes. Standardization of style for the finished artifacts used in this trade may be attributed to a relatively smallnumber of clan leaders controlling the exchange system and developing their own symbolic artifact language of what tradegoods constituted a reciprocal exchange between clans. The Middle Woodland (200 300 B.C. to A.D. 700 900) period is distinguished from the EarlyWoodland only in few, relatively minor, aspects. These relate to some aspects of the chipped lithictool inventory (i.e. changes in projectile point types) and the addition of decoration of increasingelaboration to the pottery. Pottery is found on a greater percentage of sites so may have becomemore widely used in the seasonal round. There is some evidence of different cultural groups butthese differences appear mostly as style differences in pottery and may be more a result of thelimited state of knowledge for this time period. These different traditions will be described in greaterdetail below. .u65b0d4188366900f0167d6661fb9e5b3 , .u65b0d4188366900f0167d6661fb9e5b3 .postImageUrl , .u65b0d4188366900f0167d6661fb9e5b3 .centered-text-area { min-height: 80px; position: relative; } .u65b0d4188366900f0167d6661fb9e5b3 , .u65b0d4188366900f0167d6661fb9e5b3:hover , .u65b0d4188366900f0167d6661fb9e5b3:visited , .u65b0d4188366900f0167d6661fb9e5b3:active { border:0!important; } .u65b0d4188366900f0167d6661fb9e5b3 .clearfix:after { content: ""; display: table; clear: both; } .u65b0d4188366900f0167d6661fb9e5b3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u65b0d4188366900f0167d6661fb9e5b3:active , .u65b0d4188366900f0167d6661fb9e5b3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u65b0d4188366900f0167d6661fb9e5b3 .centered-text-area { width: 100%; position: relative ; } .u65b0d4188366900f0167d6661fb9e5b3 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u65b0d4188366900f0167d6661fb9e5b3 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u65b0d4188366900f0167d6661fb9e5b3 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u65b0d4188366900f0167d6661fb9e5b3:hover .ctaButton { background-color: #34495E!important; } .u65b0d4188366900f0167d6661fb9e5b3 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u65b0d4188366900f0167d6661fb9e5b3 .u65b0d4188366900f0167d6661fb9e5b3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u65b0d4188366900f0167d6661fb9e5b3:after { content: ""; display: block; clear: both; } READ: Dostoyevsky And His Works EssayDuring the Middle Woodland period, burialceremonialism appears to have reached itspeak. It was at this time that the most exoticitems were included in burials and most ofthe known burial mounds were constructed. These include the Serpent Mound at RiceLake, a burial mound which was shapedlike a giant snake, and the mounds at RainyRiver. Much of the elaboration in mortuaryceremonialism is attributed to contact withthe Hopewellian people in the Ohio Valley. This influence appears to end around A.D. 250 and after this time burial ceremonialismappears to decrease. Around A.D. 500, the archeological record reveals a sharp decline in the construction of Middle Woodland burial mounds inthe Hopewellian core area of the Ohio River drainage. The decline in the construction of burial mounds is accompanied bydisruption of the long-distance trade in exotic materials and interregional art styles. Traditionally, archeologists have viewed the Late Woodland (ca. A.D. 500 1000) as a time of cultural poverty. LateWoodland settlements, with the exception of sites along the Florida Gulf Coast, tended to be small when compared withMiddle Woodland sites. Based on our present-day perspective, few outstanding works of prehistoric art or architecture can beattributed to this time period. Careful analysis, however, shows that, throughout the Southeast, the Late Woodland was a verydynamic period. Bow-and-arrow technology, allowing for increased hunting efficiency, became widespread. New varieties ofmaize, beans, and squash were introduced or gained economic importan ce at this time, which greatly supplemented existingnative seed and root plants. Finally, although settlement size was small, there was a marked increase in the numbers of LateWoodland sites over Middle Woodland sites, indicating a population increase. These factors tend to give a view of the LateWoodland period as an expansive period, not one of a cultural collapse. The reasons for possible cultural degradations at the end of the Middle Woodland and the subsequent emergence of the LateWoodland are poorly understood. There are several possible explanations. The first is that populations increased beyond thepoint of carrying capacity of the land, and, as the trade system broke down, clans resorted to raiding rather than trading withother territories to acquire important resources. A second possibility is that a rapid replacement of the Late Archaic spear andatlatl with the newer bow-and-arrow technology quickly decimated the large game animals, interrupting the hunting componentof food procurement and resulting in settlements breaking down into smaller units to subsist on local resources. This ended longdistance trade and the need for elite social units. A third possible reason is that colder climate conditions about A.D. 400 mighthave affected yields of gathered foods, such as nuts or starchy seeds, thereby disrupting the trade networks. A fourth and possibly interrelated reason is that intensified horticulture became so successful that increased agriculturalproduction may have reduced variation in food resource availability between differing areas. This reliance on horticulture,involving only a few types of plants, would have carried with it a risk where variations in rainfall or climate could cause famineAnthropology

Summary Normative Accounting Theory by Md. Humayun Kadir Essay Example

Summary Normative Accounting Theory by Md. Humayun Kadir Essay Mohd Asrool Hasbullah B Shuib 1051109833 Lecture: Miss Mariati bt NorHashim Summary Normative Accounting Theory by Md. Humayun Kadir* This summary reviews Normative Accounting Theory by Md. Humayun Kadir* thats show five important works on normative accounting theory – MacNeal (1939), Paton and Littleton (1940), Litteton (1953), Chambers(1966), and Ijiri(1975) – with emphasis on recognition and measurement issues in accounting. It shows that there is a lack of agreement among these theorists on basic assumptions and hypothesized information needs of the users. Even where there is agreement on an assumption, different implications have been drawn therefrom by the concerned theorist. These differences lead to diffrent recognition and measurement proposals. MacNeal(1939): The concept its using is a revolutionary. His work contains a vehement attack against the present accounting practice. He thinks that the function of accounting is to report economic truth. But financial statements, he argues, do not present truth. They are misleading to the investors and creditors. In particular, he says that the historical cost principle and the conservatism convention prevent financial statements from presenting true financial position and the operating results of the firm. MacNeal evaluates three justifications offered in favor of the cost principles. 1. The cost represents the value of a fixed asset to a going concern, called ‘the going value’ theory. 2. Second, it is impractical and expensive to revalue assets every year. 3. And even if revaluations of fixed assets were done every year that would not provide significant information to the users. We will write a custom essay sample on Summary Normative Accounting Theory by Md. Humayun Kadir specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Summary Normative Accounting Theory by Md. Humayun Kadir specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Summary Normative Accounting Theory by Md. Humayun Kadir specifically for you FOR ONLY $16.38 $13.9/page Hire Writer He employs a deductive model. MacNeal claims that managers, creditors and stockholders want to know the present net worth of the entity. Creditors need this information because this helps them assess the probability of being repaid. Stockholders need this information because this helps them compare the possessions of their company with those of other companies whose stock they may intend to buy. Managers, creditors and stockholders are also interested in having information regarding all of the profits/losses made by the entity. Financial statements can serve these information needs well if they report present economic values. By economic values, he means market prices established through the free play of demand and supply in a market that is free and competitive, and sufficiently broad and active. He also says that historical cost should be used only in the case of nonmarketable and nonreproducible assets. For MacNeal, it is an irony that the resulting total asset figure in the balance sheet would not make any meaningful sense since the total asset figure would be a curious mixture of market prices, replacement costs, and historical costs. MacNeal suggests that depreciation be calculated on the present economic value of assets, rather than on their historical costs. He also defines depreciation as the loss in value of assets due to physical wear and tear. And for if the depreciation is defined as the loss in value due to physical wear and tear, it could, and should, be measured by direct reference to the market price of used asset if such price is available. It is to be noted that in that case appreciation might have to be recorded instead of depreciation. This is because the market price of used assets might exceed the original cost of the asset. It is also to be noted that MacNeal does not allocate the market price of an asset fully as depreciation expense over its life. Its changes in market prices of assets are decomposed into depreciation expense, capital profits and capital losses. And the sum of depreciation expense,capital profits and capital losses over the whole life of an asset equal its historical cost. MacNeal says that income statement would can be include both realized and unrealized current and capital profits and losses. He suggests a form of income statement in which there are two major sections. One section reports current profits, i. . , profits from business operation and the second section reports capital profits or losses. Current profits or losses are to be closed to earned surplus and capital profits are to be closed to capital surplus. The total of profits reported in two sections would be the total net profit from all sources. And income statement designed as above would report all profits from whate ver sources they may come. This would rectify the present practice of income determination. Income as presently reported is a curious mixture of realized profit and some unrealized profit and loss. This state of income determination was responsible for the legal confusion and contradiction that existed during MacNeal’s time regarding what profit was. Attribution of the failure of the court to comprehend what accounting profit is to the accounting practice of income determination misses the important point that accounting and all of its products are social reality that must be understood in their own terms. This is because is accounting profit is self-referential. [pic] Figure 1: Structure of MacNeal’s (1939) theory Financial statements drawn along the above lines would yield certain benefits to the users of accounting information. First, a prospective mortgagee can decide whether to lend money on a particular asset. An existing mortgagee can evaluate the safety of the loan. Second,a comparison of current assets with current liabilities would reveal the correct current ratio and liquid asset ratio that would help the business entity obtain short-term bank credit consistent with the magnitudes of the ratios. Third, the balance sheet would make large secret reserves and watered stock impossible. Fourth, the balance sheet would reveal the amount of present capital employed. Comparison of this amount with current earnings would reveal management efficient correctly. Fifth, readers of financial statements would be made aware of changes in asset values caused by booms and depression. MacNeal also criticized present accounting practice for creating scope for income management. It is an irony for MacNeal that his proposal would not reduce that scope. The conventional argument is that reporting market prices of assets in the balance sheet would create scope for distorting financial tatements to serve managers’ self-interest unless restraints are placed as to which market prices can be used for asset valuation. Calculating present replacement cost would require a lot of judgment. Reliability of financial statements would thus be hampered. MacNeal seems a little concerned about this issue of reliability. Paton and Littleton (1940): Their attempt to develop a statement of accou nting standards intended to serve as ‘guideposts to the best in accounting practice’. Methodologically speaking,PL is a deductive work in that they base their theory on six basic assumptions. But most of their recommendations conform to the existing accounting practice. The primary purpose of accounting is the periodic determination of income through a systematic matching of costs and revenues. Cost is the basis of recording assets, liabilities and equities and revenues are recorded at the point of sale. Thus the primary accounting report is income statement and the balance sheet is relegated to the secondary position. The purpose of the balance sheet is to report unexpired costs, not asset values. By viewing assets as unexpired costs, PL reject the idea of incorporating periodic revision of asset values into accounts. They also reject the conservatism convention. These are the views of PL. PL erect the above theory on six basic assumptions/concepts. These are (a) the business entity, (b) continuity of activity, (c) measured consideration, (d) costs attach, (e) efforts and accomplishments, and (f) verifiable objective evidence. The business entity concept says that the entity is separate and distinct from all the parties associated with the enterprise and business accounts and statements are those of the entity rather than those of the owner, creditor or any other group concerned. One major implication of this concept is that revenues and expenses should be defined in terms of changes in enterprise assets rather than changes in owner’s equity. The second assumption, i. e. , continuity of activity, is that the business entity will continue in operation in the future. Though there are insolvency, some degree of continuity is our typical experience. Second, this assumption implies that ‘earning power’ is the most significant basis of enterprise value. The income statement is the most important accounting report. The going concern assumption also implies that all special and non-recurring losses and gains should be included in the income statement because these items modify the long-run income stream. The activities of a business enterprise consist largely of exchange transactions with other parties. The function of accounting is to express these transactions in monetary terms. Thus,the basic subject matter of accounting is the ‘measured consideration’ involved in these transactions. Accounting undertakes to report the ‘measured consideration’, not value. The consideration/price aggregate involved in an exchange transaction may indicate the mutual valuation at the point of transaction. In this limited sense, accounting may be said to record values. After the moment of the transaction, values may change but the recorded price aggregate does not. Accounting does not record these changes in values unless the entity is a party to the new transaction. PL (1940) is an excellent piece of work. They are consistent in their recommendations. In recommending accounting standards, they follow the basic assumptions even if the recommendations contradict present practice. For example, present accounting practice embodies the effects of both the proprietary view and the entity view of accounting. While we prepare accounting statements for an accounting entity (the entity view), the income statement reports net income, which is available to the stockholders, which in turn a reflection of the proprietary view. PL adopt the entity view. This view suggests that all providers of funds be treated at par. Hence, they suggest that interest on borrowed funds be shown as a charge against income instead of revenue charge. In other words, in PL’s framework interest is something akin to dividend paid. [pic] Figure 2: P L’s (1940) theoretical structure Chambers (1966): The central theme in Chamber’s system of ideas is adaptation. The assumption is that an entity wants to adapt to the prevailing market condition by engaging in exchanges. It would, therefore, want to know its stock of severable means expressed in contemporary monetary unit, because the amount obtainable from selling the assets determines and limits the entity’s scope of action in the market. The function of accounting is to supply contemporary financial information that can act as a guide to future action. Financial position is defined ‘as the capacity of an entity at a point of time for engaging in exchanges’. It is represented by the relationship between the monetary properties of the means of an entity and the monetary properties of its obligations. Thus assets and liabilities should be reported at their current cash equivalents. This means that assets should be reported at their resale value (i. e. , realizable value) and liabilities should be reported at their present value. However, Chambers insists on recording bonds payable at their face value and marketable bonds and other securities held as investment at market prices. Thus, liabilities and assets are accorded asymmetric treatment. Furthermore, recording bonds payable at face value contradicts Chambers’ emphasis on the entity’s adaptive ability, since if the entity wants to purchase its own bonds in the market, it would have to be pay its prevailing market price, not face amount of the bond. In Chambers’ scheme is that financial statements become allocation-free (Kam, 1990). The depreciation expense in Chambers’ scheme is not an allocation of cost. Rather it is the decline in the market price of an asset. There is inconsistency between Chambers’ stated goal and the detailed rules he lays out for achieving that goal. For example, while he proposes that assets be shown at resale value, his proposal for inventories departs from that. Inventories should be valued at replacement cost, with resale value providing the upper limit. Fixed assets that he terms durables inventories should be reported at resale values if such values are available. If such market prices are not available, specific index numbers be used for transforming the initial cost. Thus, as opposed to Chambers’ claim, the resulting figures of assets do not become additive. It is to be noted that Chambers criticizes historical cost accounting as resulting asset figures that are not additive. This is because asset figures in the balance sheet are historical costs of different dates. [pic] Ijiri (1975): He is an inductivist. Ijiri theorizes conventional historical cost accounting and is a staunch supporter of the historical cost principle. On the one hand, he develops three axioms from which, he claims, conventional accounting practice can be derived. On the other hand, he offers justifications in favor of this principle. The three axioms are as follows (Ijiri 1975: 74): Axiom of Control: The set of all resources under the control of an entity at time t can be identified uniquely at that time or later. Axiom of Quantities: All resources under the control of an entity at time t can be uniquely partitioned into classes of resources at that time or later in such a way that for each class a nonnegative and additive quantity measure is defined. This measure has the property that two sets of resources in the same class are treated as being substitutable in the uses of the resources if and only if their quantities are the same. Axiom of Exchanges: Every change in the set of resources under the control of the entity can be classified uniquely as it occurs either as terminator of an old simple exchange or an initiator of a new simple exchange with an estimated terminator. To Ijiri, the above axioms are analogous to the five axioms of Euclidean geometry from which all theorems in Euclidean geometry can be derived. Ijiri claims that present accounting practice can be derived from the above three axioms. Once the three judgements are made, what remain in accounting are merely computational procedures. As we know, Ijiri is an inductivist. He inductively derives the goal implicit in current accounting practice and uses this goal to suggest improvements in practice. In inducing the goal, he emphasizes the fact that accounting records every transaction. The rationale of this practice, he argues, is that the accountee is accountable for every transaction. He further claims that in a business in which outsiders invest, a manager maintains accounting records not because he expects to use them in internal decision making, but because he expects the records to generate useful information for use by the investors. Thus, he tells us, the goal underlying present accounting practice is accountability. Accounting facilitates the smooth functioning of ‘accountability relationships among interested parties’ (Ijiri 1975: ix, italics in original). And, it is accountability that distinguishes accounting from other information systems in an organization or a society. This is the basic viewpoint of Ijiri (1975). Historical evidence does not lend support to Ijiri’s claim that a business manager maintains accounting records primarily for the outside investors. The generation of huge accounting and other operating data within the American railroad business during their early years during the nineteenth century was driven mainly by the internal information needs of the railroad managers (Chandler 1977). Accountability is one such important perspective on accounting. Ijiri distinguishes his approach from the decision usefulness approach along the following three dimensions: First, the decision usefulness approach emphasizes the output of the accounting system, i. e. , financial statements. The accountability view stresses the system behind the financial statements. Second, the accountability view anticipates the pressure to bias accounting information and emphasizes the establishment of a system that is strong enough to withstand such pressures. Third, the accountability view treats the accounting system as the equilibrium outcome of the accountor-accountee relationship. Three parties are involved in an accountability relationship: accountee, accountor, and accountant. The accountability relationship normally requires the accountor to account to the accountee for his (accountor’s) activities and the consequences thereof. The accountor keeps detailed records for the benefit of the accountee. An accountant joins this relationship as a third party. He helps the accountor to account for his activities and supplies information to the accountee. Ijiri (1975) thus treats the accountee and the accountor symmetrically (Sunder1997: 6). In an accountability relationship, the accountor is responsible to the accountee for the achievement of the goals assigned to the accountor. Information on the accountor’s progress toward the achievement of the goals must be supplied to the accountee. The key issue in accounting is, thus, ‘measurement of the economic performance of the accountor’ (Ijiri 1975:ix, italics in original). The accountability view should be the basis of flow of information from the entity to the users. He emphasizes the accountee’s ‘right to know’. The purpose of the introduction of this concept in Ijiri’s scheme seems to limit the users who are entitled to have information from the entity. 8 However, Ijiri’s purpose of limiting the recipients of accounting information is not served by the concept ‘right to know’ due to the broad basis of accountability. ‘The accountability relationship may be created by a constitution, a law, a contract, an organization rule, a custom, or even by an informal moral obligation. A corporation is accountable to its shareholders, creditors, emp loyees, consumers, the government, or the public in general based on a variety of relationships created between them’ (Ijiri 1975: ix). This quotation indicates that virtually everybody has the right to know from the entity. We have noted that Ijiri is a strong supporter of the historical cost principle. He offers three major justifications in favour of this principle. First, the proper functioning of accountability rests on proper records of past activities. And, the historical cost principle requires the recording of all actual transactions. Second, this principle yields the most useful performance measure. Other bases of measurement such as net realizable value and replacement costs may be useful to some decisions. Ijiri rejects these bases for continuous recording on the ground that these bases are based on actions (i. e. , selling and buying at the balance sheet date) that entity normally does not intend to undertake. Thus, he invokes the going concern assumption here. Ijiri says that value is two-dimensional concept. These are sacrifice value and benefit value. Ijiri opts for the sacrifice value i. e. , historical cost on the ground of hardness of the measure. Third, historical cost is useful to economic decisions in general. [pic]