ABSTRACT
Prior to 1900 little was written about accounting theory. Twentieth century economic upheavals and changes, however, might be expected to have stimulated writers to develop accounting notions to reflect the financial consequences of these economic events. In line with such expectations, since 1960 there have been numerous publications concerning the theory of accounting. Most notable is the abundance of post-1960 literature in the areas of accounting for changes in general and/or specific prices. However, economic upheavals and changes have not been confined to the latter half of the twentieth century. One needs only to recall the 1929 New York Stock Exchange crash to realise this. Whilst post-1960 publications are well known and widely discussed, pre-1960 literature has not received the same attention. This paper seeks to explain why.
