Economics Accounting Twins

Case Study about

“Economics & Accounting The Uncongenial Twins”

Contents

1. The author of article.
1. •Why Uncongenial ? Why Twins ?
2. •Answer of questions.
3. •The Relationship bet. the Case & Financial Reporting.
4. •Main Points.

The author of article

• Kenneth Ewart Boulding (January 18, 1910 – March 18, 1993)
• Was an economist
• England , Boulding was born in Liverpool *
• Oxford University * He graduated from
• Published some thirty books and hundreds of articles

Why Uncongenial ? Why Twins ?

Twins :-

• Both disciplines get their raw material from the same mines.
• Both are concerned with concepts such as income , capital , profits, etc.
• Both of them consider the effective and efficient use of resources, particularly when they are scare, and also maximizing the wealth.
• Both aid people in making sound economic and financial decisions.

Uncongenial:-

• Both seem to fashion different products “different objectives and outputs”.
• Both inhabit totally different worlds.
• Accounting is the activity which provide information to the owner of the business firm while economics does all the activities for the nation and not for an individual.
• Economic based upon assumptions but Accounting upon facts.