This article catalogues the scores of profiles of accounting programs at U.S. and some non-U.S. universities published between 1957 and 1983 in the house organs of the audit firm of Arthur Andersen & Co. It also alerts readers to the Faculty Personnel directories published every five years between 1925 and 1975 by the American Association of Collegiate Schools of Business and to James R. Hasselback's Accounting Faculty Directories which have been published since 1974-1975. All of these sources throw useful light on the early and contemporary evolution of the accounting programs.
Accounting practices evolve in response to changing historical, economic, and institutional contexts, particularly during periods of social and political transformation. Previous studies have typically framed accounting change as a consequence of external institutional pressures, while overlooking the internal dynamics and resource dependences that can lead to resistance to change. This study addresses this gap through a historical case analysis of a major charitable organization in pre-unification Italy, using process tracing and a mixed institutional and resource-dependence framework. The study offers three main contributions. First, it suggests that conflicting external reforms and internal demands can generate active resistance and that the pressure-and-resistance process can be cumulative. Second, it expands accounting historiography by examining the understudied context of pre-unification Italy and showing public-sector accounting spillover into private nonprofit organizations. Third, it offers insights for policymakers and standard-setters, emphasizing that reform effectiveness depends on its alignment with organizational identity, legitimacy, and stakeholder expectations.
This study explores the management and accountability practices of the Opera di Santa Maria del Fiore (OSMF) during the construction of the Florence Cathedral from 1353 to 1382. Voluntary reporting practices and the engagement of interested parties are investigated through archival research, providing insights into the governance of hybrid organizations in the Middle Ages. Funded by public resources, the OSMF navigated pressures from political and religious authorities by fostering transparency. The analysis underscores three aspects: (1) the role of interested parties, (2) the implementation of early workplace welfare measures, and (3) the evolution of accounting practices in response to institutional pressures. Using institutional and legitimacy theories, the OSMF reporting is revealed to be an administrative tool and a mechanism for securing legitimacy in this study. The findings contribute to the field of accounting history and enhance our understanding of governance dynamics in complex environments, providing valuable lessons for modern management.
More than a century has passed since the collapse of the Ottoman Empire and the establishment of the Republic of Turkey. The early Republic faced some of the most challenging economic periods. This study examines the Central Bank of the Republic of Turkey's (CBRT's) monetary measures and their relationship with macroeconomic performance between 1933 and 1939. Using panel data and correlation heatmap analyses, the findings reveal strong positive relationships among gross domestic product (GDP), CBRT's monetary assets, liabilities, and gold reserves, suggesting that asset management supported economic growth. Price stability was a critical factor because rising price levels are correlated with slower growth and lower CBRT profits. The results highlight the role of the CBRT in balancing growth, liquidity, and stability during the formative years of Turkey's financial system, offering a promising outlook for the future.
This paper introduces a replicable protocol for dissecting scientific controversies in accounting history, adapting McMullin's (1987) "anatomy of scientific controversies" into an explicit sequence of analytic steps. Applying the protocol to the Chambers-Onida debate in the early 1970s shows that what looks like a technical disagreement about measurement bases is sustained by deeper epistemic and philosophical divergences, especially claims about the neutrality of scientific knowledge, the legitimacy of financial statement valuation, and the possibility of a univocal versus plural representation of economic reality. By systematically distinguishing between standard and nonstandard epistemic factors and nonepistemic conditions, the method situates the controversy within the scientific, cultural, and social environment of its time and supports historically congruent interpretive keys, thereby mitigating the risk of presentism. Ultimately, the protocol allows for reconstructing the factors that may lead a given controversy to end in resolution, closure, or abandonment.
Arthur L. Litke was one of the seven original members of the Financial Accounting Standards Board (FASB) when the standard-setting body was initially formed in 1973. Although a CPA, Litke filled what was considered an investor position on the Board. He took his role of protecting investors seriously and had a track record of taking strong stances for what he believed in. His case highlights the pressures of the time on standardsetting and sheds light on the process and difficulties behind creating FASB statements. This paper examines why Arthur Litke was appointed to the FASB, what impact he made on the accounting profession, and why he was not reappointed to the FASB.
The purpose of this article is to help researchers who are interested in pursuing accounting history research to conduct their own research. The article recounts a journey of one researcher from a relatively traditional American doctoral program to a present focus on accounting history research. The article describes the challenges associated with working in accounting history research and provides some recommendations that may be helpful in conducting history research using archives.
Few would disagree that the English language accounting history literature on double entry accounting before 1800 is descriptive, uncritical, partial, and lacks explanations for the practices adopted by its users. During much of that period, double entry was not used to produce financial statements. Profit was rarely calculated, never accurately. The dominant view in this literature was expressed several times by economist and accounting historian, Basil Yamey: double entry only became useful in the 19th century when financial statements for shareholders were produced; double entry served no useful purpose before then. Countering claims of the economic historian of medieval Venice, Frederic Lane, Yamey denied that double entry could ever have enabled desk-bound merchants to address the principal-agent problem. Yamey was unwilling to consider factual evidence later presented by Lane. This paper presents newly discovered evidence supporting Lane's argument that double entry accounting served a crucially important role long before 1800.
This paper explores narrative and storytelling, proposing a "golden thread" approach to the writing of accounting history. The study considers "stories" as the events involving human actors and "narratives" as interpretive frameworks through which these stories can be organized and told. In accounting history, tensions arise between immersive, story-driven accounts and structured, theory-oriented approaches. The paper argues for a renewed emphasis on narrative approaches, telling stories based on empirical data and advocating the use of a "golden thread": a unifying theme, question, or analytical concept that ensures coherence, clarity, and depth. Drawing on illustrative examples, including microhistory studies and actor-centered accounts, the paper demonstrates how a golden thread can guide the writing journey. However, the paper cautions against oversimplification, emphasizing a need to balance narrative coherence with historical complexity and nuance. This paper also contributes by offering practical guidance for scholars seeking to craft compelling, rigorous, and resonant historical narratives.
William J. Vatter (1905-1990) is recognized as the father of fund theory, introduced in his seminal book, The Fund Theory of Accounting and Its Implications for Financial Reports (1947). His second major monograph, Accounting Measurements for Financial Reports (1971), however, has received little scholarly attention. Although Vatter's approach to using funds in accounting theory is widely recognized, his views on accounting measurement and financial reporting remain insufficiently examined. This study reassesses Vatter's lesser-known works, including his overlooked articles, to clarify the distinctive features of his accounting theory. It demonstrates that his approach to accounting measurement was grounded in the historical cost principle and that he did not explicitly aim to construct an asset-centered theory. Addressing these aspects provides a fuller view of Vatter's thought and highlights the continuing relevance of historical accounting theory for present-day debates on accounting measurement and the conceptual framework.
This memorial article traces the career and examines the major writings of Stephen Gilman, the longtime owner, senior manager, and director of instruction of the correspondence school, International Accountants Society, Inc. As very little is publicly known about Gilman and his career, extensive use was made of archival resources and of multiple library searches. Gilman is known chiefly for his scholarly 1939 treatise, Accounting Concepts of Profit, which will be treated at length, together with his two other major books and four of his articles.
This paper presents details and examples of use of a digitalized research methodology adopted to investigate a mid-15th century Venetian double entry ledger. A digitized journal of the ledger was created, populated using the data entered in the ledger, particularly the contra account references recorded in each entry. This enabled missing entries to be generated and accounts only partially surviving, even missing entirely, to be recreated. The digitization process was facilitated by proprietary software developed by the authors, enabling a comprehensive analysis of the merchant's accounting system. Examples are provided of these activities focusing on the account for profits and losses because the final pages on which it was recorded have not survived, but any account could have been selected. Overall, adoption of a digital methodology greatly increased research productivity, improved clarity and understanding of the double entry accounting system, the business, and its successes and failures.
For over a century, leaders in the accounting profession have promoted education beyond a bachelor's degree for aspiring CPAs-a movement that culminated in the adoption of the 150-hour rule. Yet by 2025, the AICPA and National Association of State Boards of Accountancy (NASBA) revised the Uniform Accountancy Act to let jurisdictions drop this requirement, signaling a sharp reversal in support. This paper traces the evolution of the 150hour rule from the founding of the American Association of Public Accountants (AAPA) in 1886 to the AICPA's 1988 decision to mandate 150 college credit hours by 2000. It examines how the rule gained acceptance despite persistent concerns, drawing on key reports such as the Perry, Carnegie, Ford Foundation, "Horizons of a Profession," Beamer, and Albers Reports. By exploring these historical debates, the paper offers insights into how professional education standards emerge, gain legitimacy, and ultimately erode when underlying challenges remain unresolved.
This study analyzes the normative criteria proposed by Rabbi Meir Halevi Abulafia (Ramah) for allocating the cost of building urban fortifications among Jewish aljamas in medieval Castile. Using textual and historical-interpretive analyses of rabbinic sources, this paper maintains that Ramah's extensive cost allocation analysis of town walls was driven by historical events surrounding the Reconquista. The paper finds that Ramah's geometric cost allocation scheme is consistent with both Talmudic and economic efficiency reasoning. Because the Talmudic letter of the law conflicted with equity considerations, the Ramah was forced to do an "about face" and rationalize a more equitable approach, if only by reference to less-than-ideal Talmudic sources. This study contributes to the historical accounting literature by showing that cost allocation in medieval Spain was justified both on efficiency and equity grounds-albeit moderated by historical exigencies-in consonance with some of the modern cost allocation literature.
Over the past 84 years, many analyses have been published on the relationship between external and internal auditors. This study tracks the intellectual history of academic research investigating these relationships in the United States since the foundation of the Institute of Internal Auditors in 1941 to identify the origins and timing of relevant developments. It examines the extent to which research has contributed to, or been influenced by, developments in this relationship by reviewing articles published from 1941 to 2024. An archival content analysis methodology is used to evaluate topical trends within a selected set of articles. The analysis shows that most of the papers examined are reactive to changes in regulations and standards. In addition, the evaluation highlights the declining interest in certain topics and the emergence of new research topics-two trends correlated with developments in auditing and other fields.
This paper explores an important archival document that provides the uniform auditing policies of General Motors Corporation (GM) developed in the late 1920s. The GM "Standard Audit Procedures" manual offers original material on internal auditing at a time when the discipline was not yet standardized. Studying its detailed procedures gives one an inside view of GM's global business operations during this time and the opportunity to understand the important managerial role of the internal auditor at GM. Further, the timing of the manual is of great significance due to the economic environment in 1929. Despite experiencing the nation's worst economic downturn, GM continued its priority of financial controls. This paper provides a unique analysis of GM, an early adopter of internal auditing within corporate America.
This research note records public accountants in the military from the perspective of the history of accountancy professionalization. It identifies British public accountants who migrated to the United States before the First World War and later enlisted voluntarily in the British or Canadian army during that conflict. The note records the social origins, pre-immigration careers, pre-war North American careers, war service, and post-war careers of these accountants. The note reveals a range of experience and contribution, including death and wounding in action, conspicuous gallantry, post-war trauma, and successful post-war careers.
This research considers the methodological approaches, choices made, and experiences in compiling and digitizing two historical datasets from three archival sources. The datasets relate to the British South Africa Company (BSAC), which Cecil Rhodes established by royal charter to colonize Rhodesia, and the Forestal Land, Timber and Railways Company Limited ("La Forestal"), which was listed on the London Stock Exchange and extracted quebracho from trees in Argentina to manufacture tannin used in making leather goods. The research considers the approaches taken to locating, identifying, gathering, recording, and digitizing the data, highlighting the gamble, challenges, and rewards of undertaking such research. The paper then describes the digitalization processes adopted to analyze the data using large data processing methods.
Using primary documents dating back to the early 20th century in the form of authoritative standards of the AICPA, the PCAOB, and the ISO, SEC investigation records, and scholarly literature, this article discusses the ubiquitously used word "analysis" in various branches of the accounting discipline. It traces the history of three different accounting and auditing terms derived from "analysis," describes how they are used by accounting scholars and practitioners, and discusses if such usage is consistent with the etymology of the root word. The paper also describes the evolution of those practices described as "analysis" through the decades in the United States and overseas. It concludes with a consideration of pedagogical implications of such borrowings and notes that although two of three accounting terms seem consistent with the etymology, one usage might be argued to be inappropriate.
