The Dual Aspects of Accounting Transaction and the Assets-Claims on Assets Equality in Axiomatic Theory

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The Dual Aspects of Accounting Transaction and the Assets-Claims on Assets Equality in Axiomatic Theory

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ABSTRACT

The purpose of this study is to analyze the structure of the financial statements? balance sheet and the dual aspects of accounting transactions from the viewpoint of axiomatic theory showing the relationship between assets and claims on assets. The methodology is rationalistic and analytical; it uses a well-known axiomatic theory to analyzing the balance sheet. The procedure involves a definition of axioms, an application of axiomatic theory, and an analysis of the assets-claims on assets relationship Results show that assets and claims on assets have a set structure and can be analyzed with the axiomatic theory, leading to the conclusion that they are not equal, under the analysis of set equality.

KEYWORDS

Dual aspect, accounting transactions, axiomatic method, assets, claims on assets, financial statements

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Cite this paper

Fernando Juarez. (2016) The Dual Aspects of Accounting Transaction and the Assets-Claims on Assets Equality in Axiomatic Theory. International Journal of Mathematical and Computational Methods, 1, 128-134