The Determination of Profit in Medieval Times

Sangster, Alan; Kuter, Mikhail; Gurskaya, Marina; Andreenkova, Angelina

doi:10.1007/978-3-319-74980-8_20

Cited by 4 publications

(4 citation statements)

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“…The modern researchers M. Kuter and M. Gurskaya have proved that in the proprietorships of F. Datini in Pisa (the first proprietorship -1383-1386; the second proprietorship -1387-1392) the Profits and Losses account appeared earlier than the Trial Balance and the balance sheets, which were first produced in companies in 1394. The latter circumstance is caused by the partners' requirements to the reliability and timeliness of financial result calculation in order to distribute the profit as a reward (Kuter, 2017;Sangster, 2017) [25,26]. The authors mentioned above paid special attention to the fact that the Profits and Losses account had always been in the Ledger, and nobody had ever made a copy of the Profits and Losses account as it was very detailed and occupied several folios.…”

Section: Methodsmentioning

confidence: 99%

“…Grewa, R.K. Khosla (2019) [28]; 10) Scotland: A. Sangster (2017 [25,26] and others. Many unsolved problems are discussion.…”

Section: Introductionmentioning

confidence: 99%

“…Kolass (1997) [14]; Krishna G. Palepu, Paul M. Healy (2013) [15]; 3) British scientists (London): McKenzie Wendy (2003Wendy ( , 2006 [16], D. Stone (1998), K. Hitcheeng (1998) [17]; P. Atrill (2007 [18,19], E. McLaney (2007McLaney ( , 2017) [18][19][20]; 4) Ireland: Walsh Ciaran (2001) [21]; 5) Latvia: V. Paupa (2008) R. Sneidere (2008) [22]; 6) Russia: M.I. Kuter (2017Kuter ( , 2018Kuter ( , 2019 [23][24][25][26], M.M. Gurskaya (2017,2018,2019,2020) [23][24][25][26]; 7) Iraq: Saoud Chayed Mashkoor Alamry (2019) [27]; 8) India: T.S.…”

Section: Introductionmentioning

confidence: 99%

“…Kuter (2017Kuter ( , 2018Kuter ( , 2019 [23][24][25][26], M.M. Gurskaya (2017,2018,2019,2020) [23][24][25][26]; 7) Iraq: Saoud Chayed Mashkoor Alamry (2019) [27]; 8) India: T.S. Grewa, H.S.…”

Section: Introductionmentioning

confidence: 99%

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Balance Sheet (Statement of Financial Position) Transformation in the Light of New Digital Technology: Ukrainian Experience

Lakhtionova

Муранова

Bugaiov

et al. 2020

Integrated Science in Digital Age 2020

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The paper contains suggestions on balance sheet (statement of financial position) transformation based on the Ukrainian reporting Form 1 in the context of approaching IFRS and European integration with the use of digital computer technologies to make it more analytical. Historical aspects of the balance sheet as an information base on the financial position of an enterprise are considered and clarified. Suggestions are put forward on transforming the assets of this reporting form in the light of digital computer technology, which is expected to improve the quality of its information content. In scientific literature, there are various ways of analyzing the financial position on the basis of the financial position statement data. Unfortunately, until recently, this issue was not sufficiently described in scientific literature with regard to the essence of the concept of financial position and a clear articulation of the organizational stages of its analysis, systematization of methods and obtained results at each stage, which necessitates the research.

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Section: Methodsmentioning

confidence: 99%

“…Grewa, R.K. Khosla (2019) [28]; 10) Scotland: A. Sangster (2017 [25,26] and others. Many unsolved problems are discussion.…”

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Balance Sheet (Statement of Financial Position) Transformation in the Light of New Digital Technology: Ukrainian Experience

Lakhtionova

Муранова

Bugaiov

et al. 2020

Integrated Science in Digital Age 2020

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Digital Technology in Luxury Industry Development

Alexandrova

2024

Lecture Notes in Networks and Systems

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Profit Calculation in a Late 14th Century Sole Proprietorship: The Case of Francesco Datini

Kuter

Baker

Gurskaya

2021

Accounting Historians Journal

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This paper examines the Profit on merchandise accounts (a forerunner of the income statement) in a sole proprietorship in Pisa that officially operated between 1386 and 1392, but took several months to finally end its activities, which it did in 1393. The Profit on merchandise account was where the balance on each goods account was transferred when all the items recorded in it were sold. The principal contribution of this paper is the identification of a unique approach to medieval product costing that ensured indirect expenses on merchandise were recovered from customers when sales took place, while earning an average return of over 10 percent on those costs. It also highlights the problems encountered when working with archival material that has deteriorated over time; and presents a research method that reconstructs missing data using the trail to original entries and contra entries recorded in double entry.

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The Determination of Profit in Medieval Times

Cited by 4 publications

References 3 publications

Balance Sheet (Statement of Financial Position) Transformation in the Light of New Digital Technology: Ukrainian Experience

Balance Sheet (Statement of Financial Position) Transformation in the Light of New Digital Technology: Ukrainian Experience

Digital Technology in Luxury Industry Development

Profit Calculation in a Late 14th Century Sole Proprietorship: The Case of Francesco Datini

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