The purpose of this paper is to discuss the concept of measurement in financial accounting, starting with an examination of the approach to measurement taken by the International Accounting Standards Board (IASB), followed by a summary of the general theory of measurement employed in the natural...

Similar to other professional groups, the accounting profession has asserted that it serves the ‘public interest' (Anderson-Gough, et al. 2002; Robson et al., 1994). However, the definition of exactly what constitutes the ‘public interest' has been subject to considerable debate and there is no...