ABSTRACT
That was the setting in which I. a Ph. D. student in the School of Business at the University of Chicago, confronted the dissertation topic I had chosen: an examination of the revenue concept. My objective was to define revenue. Then I encountered a logical roadblock. My inclination was distinctly normative, but to say how something should be done required an answer to the question: for what purpose? That is how I got involved in a search for an objective, or objectives, of accounting. Finding none in the literature, I was on my own.
