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Economic substance of income tax

Kolchugin S.V. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( s.kolchugin@rambler.ru )

Journal: International Accounting, #22, 2016

Importance The article addresses the long-standing debate of the Anglo-American accounting school representatives about the economic substance of income tax: whether it is an expense, a loss, a profit distribution, or an unusual item.
Objectives The purpose of the study is to find out the nature of corporate income tax and consider the main viewpoints of the Anglo-American accounting school on the substance of income tax.
Methods The study employs general scientific methods of examination, like analysis and synthesis, induction and deduction, comparison and logical generalization.
Results The findings show that the best viewpoint on the economic substance of income tax is presented in the approach, under which the income tax is a specific item of financial statements. The common assumption about the income tax being the expense for the period was officially formalized in the U.S. in 1944; however, it was not properly proved.
Conclusions and Relevance The existing point of view, according to which the income tax is treated as an expense for the period, was adopted at the legislative level, though without extensive discussion. Thus, today the officially recognized point of view is debatable.


Five axioms of the double entry accounting system

Kolchugin S.V. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( s.kolchugin@rambler.ru )

Journal: International Accounting, #2, 2018

Importance The article sets forth the principles of the axiomatic theory of accounting, which helps explain the double entry system as a preferable result of the adopted systems of axioms.
Objectives I outline the principles of the axiomatic theory of accounting and explain the double entry system as a desired result of the implicitly adopted system of accounting axioms.
Methods The methodological framework comprises such methods as the axiomatic method, deduction, complete induction, comparison and logic generalization.
Results I found out that the double entry system is a desired result of four accounting axioms, that were implicitly accepted. I specify the definition the fact of economic activities and study its qualities. I prove the first and second postulates of Luca Pacioli and analyze the design of the accounting theory from axiomatic perspectives. The article indicates what causes the existing drawbacks of the double entry system of accounting.
Conclusions and Relevance The existing double entry system of accounting can be represented as an axiomatic theory. From perspectives of the axiomatic theory of accounting, it is possible to explain the practical direction of the accounting development as a scientific discipline. The accounting theory is underdeveloped since the system of axioms is of technical nature and there are no formal rules for inference on the basis of the axiomatic system. Thus, the axiomatic system should be revised and formal rules for inference should be adopted.


Mathematical foundations of the balance sheet theory by A.P. Roudanovsky

Kolchugin S.V. Novosibirsk State University of Economics and Management, Novosibirsk, Russian Federation ( s.kolchugin@rambler.ru )

Journal: International Accounting, #8, 2017

Subject The article considers the attempt of A.P. Roudanovsky to apply mathematical methods to accounting.
Objectives The purpose of the study is to analyze the mathematical basis of the balance sheet theory by A.P. Roudanovsky.
Methods The study employs general scientific methods of research, i.e. analysis and synthesis, induction and deduction, comparison, logic synthesis, and rests on the historical approach.
Results Unlike other authors making attempts to apply mathematical methods to accounting theory, A.P. Roudanovsky translates mathematical principles and theorems to the language of accounting, using a metalanguage. This makes the balance sheet theory by A.P. Roudanovsky a unique and original one. Many authors before and after A.P. Roudanovsky tried to introduce mathematical methods to the accounting theory by translating the theory's ideas and concepts to the language of mathematics, but not vice versa.
Conclusions and Relevance The Roudanovsky theory is unique. It includes viable ideas about many aspects of accounting. At the same time, the use of Lorentz transformation to convert accounting terms into mathematical ones is unjustified. I think that Lorentz transformations can be used in physics when speaking about transformations between different inertial systems. However, it cannot be used in accounting, because Roudanovsky did not prove that Lorentz transformations can be applied to both phenomena of physics and logical notions. This is a significant defect of the methods applied in his work.


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