Český finanční a účetní časopis 2006(1):30-49 | DOI: 10.18267/j.cfuc.117

The possibilities of convergence of an economic and an accounting concept of income

David Procházka
Ing. David Procházka - interní doktorand; Katedra finančního účetnictví, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3; <prochazd@vse.cz>.

The exposition is aimed to define basic economic category which is profit (income). This element is a subject of the theoretical research in the accounting, too. Firstly, the contribution refers to some characteristics of economic concept of income. Then, I expound the accounting point of view, especially in mutual relations to various concepts of value, capital and income. I delineate two theoretical concepts of accounting profit - realizable profit and business profit. In the last part, there is an analysis of profit as it is specified in the Conceptual Framework to International Financial Reporting Standards.

Keywords: Value; Capital; Income; Realizable profit; Business profit; IFRS.
JEL classification: M41

Published: March 1, 2006  Show citation

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Procházka, D. (2006). The possibilities of convergence of an economic and an accounting concept of income. Czech Financial and Accounting Journal, 2006(1), 30-49. doi: 10.18267/j.cfuc.117
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