In the April 1998 edition of Charter, an article appeared on self-generating and regenerating (biological) assets. In
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In the April 1998 edition of Charter, an article appeared on self-generating and regenerating (biological) assets. In the article it is noted that:
The main criticism against net market value accounting is that it does not reflect actual events. It’s accounting for what’s going to happen in the future, not what’s already happened. A common sentiment of many blueblood accountants is that if it’s not realised, it’s not real. An unrealised gain on lambs might not be worth a penny if they all fall over and die before sale time.
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The argument being provided here is consistent with the traditional realization principle The argument is that income should not be recognised until s...View the full answer
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