European Financial and Accounting Journal 2009, 4(1):37-60 | DOI: 10.18267/j.efaj.62

The Hicks' Concept of Income and Its Relevancy for Accounting Purposes

David Procházka
Ing. David Procházka, Ph.D. - assistant professor; Department of Financial Accounting and Auditing, Faculty of Finance and Accounting, University of Economics, Prague, W. Churchill Sq. 4, 130 67 Prague 3, Czech Republic; <prochazd@vse.cz>.

The paper analyses the possibility of using the economic concept of income introduced by J. R. Hicks for accounting purposes. Despite some disadvantages hindering from its broader practical utilization, this concept still finds its place in the area of managerial accounting and capital maintenance. Some aspects of Hicks' income concepts can be even found in International Financial Reporting Standards.

Keywords: Ex-ante income, Ex-post income, J. R. Hicks, Subjective goodwill, Subjective profit, Subjective value
JEL classification: M41

Published: March 1, 2009  Show citation

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Procházka, D. (2009). The Hicks' Concept of Income and Its Relevancy for Accounting Purposes. European Financial and Accounting Journal4(1), 37-60. doi: 10.18267/j.efaj.62
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