THE PROCESS OF ACCOUNTING INNOVATION: THE PUBLICATION OF CONSOLIDATED ACCOUNTS IN BRITAIN IN 1910

Authors
Edwards, John Richard
Citation
Edwards, John Richard, THE PROCESS OF ACCOUNTING INNOVATION: THE PUBLICATION OF CONSOLIDATED ACCOUNTS IN BRITAIN IN 1910, Accounting historians journal , 18(2), 1991, pp. 113-132
Journal title
Accounting historians journal → ACNP
ISSN journal
01484184
Volume
18
Issue
2
Year of publication
1991
Pages
113 - 132
Database
ACNP
SICI code
Abstract
The first known example of a consolidated balance sheet published by a British company was made available to shareholders of the Pearson and Knowles Coal and Iron Company Ltd. in 1910. This paper examines the reasons for this accounting change and investigates the source of the necessary expertise. The conclusion reached is that, in common with many other accounting innovations, evolutionary change occurred as the result of modifications to an existing business practice.