LEMARCHAND (Yannick) – FROM DEPRECIATION TO DEPRECIATION, An Inquiry into the History of a Concept and its Accounting Translation, Preface by Claude Cossu
LEMARCHAND (Yannick) – FROM DEPRECIATION TO DEPRECIATION, An Inquiry into the History of a Concept and its Accounting Translation, Preface by Claude Cossu
    LEMARCHAND (Yannick)
    FROM DEPRECIATION TO DEPRECIATION: An Inquiry into the History of a Concept and its Accounting Translation, Preface by Claude Cossu
Édition :
    Nantes
Date :
    1993
    in-8, br;, (very slightly faded, very rare annotations in pencil), good condition, 719 p.
    This study examines the accounting practices of French companies from the time of Colbert's ministry to 1914. Its primary source material consists of company archives and technical literature. From the late 17th century onward, entrepreneurs incorporated the depreciation of fixed assets into their calculations. Some even provided an accounting entry for this. In the late 18th and early 19th centuries, entries combining depreciation recognition and interest on capital appear. Industrialization and the development of joint-stock companies fostered the emergence of this concept, but the link is not as direct as one might have thought. Moreover, the practice remained limited, as long-term assets often escaped accounting representation. For many, they were simply considered intangible assets, their acquisition treated as consumption. Furthermore, apart from the textile industry, a sector linked to merchant capital, industry often only used cash-basis accounting, the traditional method of public finance. They simply recorded flows, without any system for tracking inventory. During the 1820s and 1840s, the use of double-entry bookkeeping became widespread. Some of the first public limited companies were required to include provisions for the depreciation of fixed assets in their articles of association. The concern for replenishing invested capital led to the creation of sinking funds. It was at this time that the accounting method acquired its current name, previously used to refer to the repayment of a loan. Railway companies refrained from depreciation, notably because they relied heavily on borrowing and the state guaranteed their dividends. Equally distant from the standard asset-based approach, some industrial companies made the mechanism an active tool in a policy of intensive self-financing. This sometimes triggered bitter conflicts between directors and shareholders. Despite some attempts at regulation, little success was achieved in controlling these practices before the introduction of profit taxation in 1914.

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