Tony Tinker (1985) wrote that one theme that runs through the history of accounting is:

[A] concern to present an image of objectivity, independence, and neutrality by shunning “subjective” questions of value and confining accounting data to

“objective” market prices (historical and current). This image is often extended to portray the accountant as a disinterested, innocuous historian. The need for the imagery stems from a desire to deny responsibility for shaping subjective expectations which … affect decisions about resource allocation and income distribution between and within social classes.

Consider how accounting rules on when to recognize income and expenses might affect:
A. The relative rights of shareholders and tax authorities.
B. The relative rights of executives with contractually specified bonuses, and shareholders.
C. Decisions on how much customers of electric utilities and other regulated businesses should be charged.
D. The ability of shareholders to take out dividends, leaving less money in a company to repay lenders.