The supply of and demand for accounting information in an unregulated market: examples from the Lancashire cotton mills, 1855-1914

Article Abstract:

The extent of accounting disclosure by cotton mills in Lancashire, England, during the period 1855-1914 was examined. Specifically, the role of capital markets, the social characteristics and evolution of share ownership and the structure of industrial relations on changes in unregulated accounting practice was analyzed. It was found that industrial relations, shareholder activism and the social character of share ownership influenced financial accountability. An increase in labor union representation and organization led to greater secrecy in accounting disclosure. Furthermore, close involvement of stockholders in management decision making became more effective because of their level of financial and technical knowledge. The experience of the Lancashire cotton mills showed that the capital accumulation process is essential to accounting disclosure.

Accounting Methods, Cotton, Cotton Farming, Labor Relations, Accounting, Capital market, Capital markets, Cotton (Fiber), Disclosure statements (Accounting), Lancashire, England, Textile factories

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The emergence, roles and consequences of an accounting-industrial relations interaction

Article Abstract:

The Hans Renold Co's efforts to combine accounting concepts and techniques into industrial relations structures and processes during the 1920s are examined. The Hans Renold example exhibits the importance of: assessing and monitoring accounting systems in order to assure that they are meeting expectations; remembering that accounting practices are developed in a pre-existing organizational structure which will influence their eventual outcome; and remembering that accounting can be attached to several different organizational priorities.

Case studies, History, Industrial organization, Managerial accounting, Profit sharing, Hans Renold Co.

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Inflation-adjusted disclosures and the determination of ability to pay in collective bargaining

Article Abstract:

Supplementary, inflation-adjusted disclosures on trade unions' assessments of corporations' financial conditions and their ability to pay wages are not useful to the trade unions and may be confusing. The disclosures of inflation-adjusted information may in fact reduce the unions' confidence in the assessments.

Finance, Corporations, Collective bargaining, Corporate finance, Inflation accounting

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