ABSTRACT
Paton’s celebrated Accounting Theory-With Special Reference to the Corporate Enterprise, published in 1922, reaffirms his position on fixed assets as set out in the 1920 article and discloses his qualified approval of showing appreciation on current assets.35 Accounting Theory has erroneously been said to be the publication of Paton’s doctoral dissertation.36 In fact, Accounting Theory is four times the length of the dissertation, and while Chapters I through VII and X through XI of Accounting Theory largely correspond to material in the dissertation, the remaining chapters (including four which, Paton reported, were adapted in part from previously published articles) either did not appear in the dissertation or were lightly treated there.
