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ИД «Финансы и кредит»






International Accounting

Assessing the financial result at the early development phase of the accounting methodology

Vol. 24, Iss. 9, SEPTEMBER 2021

Received: 12 August 2021

Received in revised form: 24 August 2021

Accepted: 30 August 2021

Available online: 15 September 2021


JEL Classification: M40, M41

Pages: 1054–1084


Sergei V. KOLCHUGIN Novosibirsk State University of Economics and Management (NSUEM), Novosibirsk, Russian Federation


Subject. The article discusses methods and techniques for assessing the financial result at the early development phase of the accounting methodology.
Objectives. The study is intended to find the evidence of the evolutionary coherence of methods and techniques used to assess the financial result through the single-entry and double-entry bookkeeping.
Methods. I combined the analysis and synthesis, induction and deduction, the historical and logic methods of research.
Results. I proved the existence of two methods for assessing the financial result through the single-entry accounting. As part of the first one, the financial result is assessed in accounts (first of all, the account of goods and account of payables). As part of the second one, the financial result is assessed by comparing the value of property, which is not encumbered with debts (net property) as of the beginning and end of the accounting period. To do so, the opening and closing inventory lists are compared. Illustrating the balance prepared by J. Gottlieb, I show the coherence of methods and techniques for assessing the financial result through the single-entry and double-entry bookkeeping methodology.
Conclusions. The article presents two methods for assessing the financial result through the single-entry method and shows the relationship of methods used to determine the financial result in the single-entry and double-entry methods. In the single-entry and double-entry bookkeeping, the economic substance of the financial result was found to have been interpreted as a growth in net assets for a certain period. The findings are applicable to explain the nature of the financial result, define it and develop the accounting methodology for assessing the financial result.

Keywords: financial result, accounting history, accounting methodology, single-entry bookkeeping, double-entry bookkeeping


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