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| Author: | Toms, S. |
| Title: | Financial control, managerial control and accountability: evidence from the British cotton industry, 1700-2000 |
| Journal: | Accounting, Organizations and Society
2005 : OCT-NOV, VOL. 30:7-8, p. 627-653 |
| Index terms: | accounting accounting systems cotton industry economic history financial control management control United Kingdom |
| Language: | eng |
| Abstract: | This article seeks to identify the underlying and long run historical determinant of accounting practices. These practices include the nature and relative importance of management and financial accounting techniques, together with the mediating roles of corporate finance and especially financial markets. To explain historical variation in the aplication of these techniques the paper introduces an analytical model. The model is based on the principles of historical materialism and hence comprises objective and subjective elements. Definitional categories are borrowed from Marx's analysis of the workings of capitalism, and extended to include contexts where there is extensive socialization of capital, as manifested by the pooling of investments in liquid financial markets. To examine the detailed implications for accounting change, the model is then applied to a longitudinal case study of the British cotton textile industry. |
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