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  2. Management accounting principles - Wikipedia

    en.wikipedia.org/wiki/Management_Accounting...

    Prior to 1929 no group – public or private – was issuing or responsible for any accounting [4] standards. After the 1929 stock market crash, a call to regain the public's confidence and investor's trust was demanded and the Securities and Exchange Act of 1934 was passed resulting in public companies being supervised by the U.S. Securities and Exchange Commission.

  3. Externality - Wikipedia

    en.wikipedia.org/wiki/Externality

    A side effect or externality associated with such activity is the pollination of surrounding crops by the bees. The value generated by the pollination may be more important than the value of the harvested honey. The corporate development of some free software (studied notably by Jean Tirole and Steven Weber [35])

  4. Shadow price - Wikipedia

    en.wikipedia.org/wiki/Shadow_price

    An externality is defined as a cost or benefit incurred by a third party as a result of production or consumption of a good or services. Where the external effect is not being accounted for in the final cost-benefit analysis of its production.

  5. Triple bottom line - Wikipedia

    en.wikipedia.org/wiki/Triple_bottom_line

    Triple bottom line (TBL) accounting expands the traditional reporting framework to take into account social and environmental performance in addition to financial performance. In 1981, Freer Spreckley first articulated the triple bottom line framework in a publication called Social Audit - A Management Tool for Co-operative Working. [8]

  6. Management accounting - Wikipedia

    en.wikipedia.org/wiki/Management_accounting

    Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.

  7. Profit (economics) - Wikipedia

    en.wikipedia.org/wiki/Profit_(economics)

    The social profit from a firm's activities is the accounting profit plus or minus any externalities or consumer surpluses that occur in its activity. An externality including positive externality and negative externality is an effect that production/consumption of a specific good exerts on people who are not involved.

  8. Pigouvian tax - Wikipedia

    en.wikipedia.org/wiki/Pigouvian_tax

    To deal with over-production, Pigou recommends a tax placed on the offending producer. If the government can accurately gauge the social cost, the tax could equalize the marginal private cost and the marginal social cost. In more specific terms, the producer would have to pay for the non-pecuniary externality that it created.

  9. Moral hazard - Wikipedia

    en.wikipedia.org/wiki/Moral_hazard

    In the literature, two reasons have been discussed why moral hazard may imply that the first-best solution (the solution that would be attained under complete information) is not achieved. Firstly, the agent may be risk-averse, so there is a trade-off between providing the agent with incentives and insuring the agent.