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- Title
Exchange Guidance is the Fundamental Demand for Accounting.
- Authors
Waymire, Gregory B.
- Abstract
The article focuses on the effect that exchange guidance demand for accounting has on basic accounting functions. It states that basic accounting functions may be a critical factor in spontaneous market order as Adam Smith characterized in the metaphor "Invisible Hand." It suggests that the method that the human brain processes economic exchange information is fundamentally changed by systematic quantified accounting information. It comments that exchange decisions that affect how the market chooses which firms survive is more accurately guided by better accounting information. It talks about the role neuroeconomics plays in economic decision making. It mentions the role that accounting information plays in evaluating profitability expectations of entrepreneurs.
- Subjects
ACCOUNTING; DECISION making; NEUROECONOMICS; ENTREPRENEURSHIP; PROFITABILITY; BRAIN; SMITH, Adam, 1723-1790
- Publication
Accounting Review, 2009, Vol 84, Issue 1, p53
- ISSN
0001-4826
- Publication type
Article
- DOI
10.2308/accr.2009.84.1.53