The Dual Aspect of Accounting Transaction and the Assets-Claims on Assets Equivalence

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TITLE

The Dual Aspect of Accounting Transaction and the Assets-Claims on Assets Equivalence

ABSTRACT

The purpose of the study is to analyze the justification of the assets-claims on assets equivalence, based on the dual aspect of accounting transactions. Assets and claims on assets were considered as sets; the analysis used the axiomatic method, a definition of accounting axioms, and a test of the equality of the assets-claims on assets cardinality by a bijective functionThe results show that the assets cardinality is not equal to the cardinality of claims on assets when taking into account the dual aspect of accounting transactions.

KEYWORDS

Dual aspect, accounting transactions, axiomatic method, cardinality, balance sheet

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Cite this paper

Fernando Juarez. (2016) The Dual Aspect of Accounting Transaction and the Assets-Claims on Assets Equivalence. International Journal of Economics and Management Systems, 1, 39-44