15. the accountant’s task

"Accounting...might best be defined as the art which attempts to break up the financial history of a business into specific units, a year or less in length. In other words, it is the business of the accountant to prepare valid statements of income and financial condition in terms of specific periods of time; and the propriety of a particular procedure cannot be judged fairly except in terms of its effect upon the integrity of the particular statement" (Paton [1922], page 469). Do you agree?

Carefully explain your reasoning.