This introduction presents an overview of key concepts discussed in the subsequent chapters of this book. The book concerns accounting theory so looked at those works which were designed to contribute to the theoretical basis of accounting rather than serve as textbooks of method. It also focuses on the works of individual theorists which meant the exclusion of the, sometimes valuable, committee presentations. The book compares list with those in widely used accounting theory expositions. It also explains that a statement such as historical cost accounting no longer produces results that are useful for decision making, is to exploit the insight that a traditions history is relevant to an appraisal of its cognitive status. The book focuses on Sprague who is representative of an early theoretical exposition. He seems to be one of the very few British authors to have done this. The book also discusses bibliographical searches that uncovered some interesting details.