1. an accounting historiography

A BA CUS. Vol. 26. No. 2, 1990

GARY JOHN PREVITS, LEE D. PARKER AND EDWARD N. COFFMAN

An Accounting Historiography:Subject Matter and Methodology

This paper continues to study issues developed in a preceding manuscriptwhich provided a definitional context for accounting history, its uses andlimitations as a tnethod of inquiry related to educational endeavours,standard setting and practice, ln this study two aspects of the developmentof the history of accounting, subject matter and methodology, areextensively explored within the context of a definition of historiography,A set of outline tables is provided to assist researchers considering thetopic areas as well as the process of historical inquiry, especially thosescholars who do not specialise in historical study. As in the previous paper,an extensive bibliography is provided.

Key words: History. Development of thought. Historiography.

Historiography . . . includes the bodv of techniques, theories and principles associatedwith historical research. It is a way of addressing data and sources, asking questionsand building theories based on evidence. (Goodman and Kruger, 1988, p. 316)

This paper begins with a description of categories of historical inquiry and providesexamples of each from the literature of accounting history. The second sectionaddresses the process of conducting historical inquiry with attention to the narrativeand interpretational views presented in a previous paper (Previts, Parker andCoffman, 1990). Examples of several methods are provided, including cliometric,counterfactual and empirical. The paper concludes with a discussion of furtherreseajfch needs.

SUBJECT MATTER OF HISTORICAL RESEARCH

Historical research in accounting includes many subject areas such as biography,institutional, development of thought, general history, critical history, taxonomicand bibliographical data bases, and historiography (Previts, 1984). These areas ofresearch provide a classification guide to assist researchers in identifying or classifying

GARY JOHN PRFVIIS. Lrr D. PARKTR and EI>WAKI> N . C o n MAN are Professors of Accounting, Case

Western Reserve University, The Flinders University of South Australia, and Virginia CommonwealthUniversity, respectively.

The authors acknowledge the comments on earlier versions of this paper provided by R. P. Brief,Stephen Zeff, H. Thomas Johnson, Barbara Merino, Paul Garner, Kenneth Ferris and participantsat the CWRU research seminar. Part one of this study appeared in the previous issue of Abacus.

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an aspect of the development of accounting thought or practice (see Table I). Oftena study categorized according to one area draws upon and is identified with otherareas.' Readings describing general historical subject matter categories related tothis section include works by G. K. Clarke (1967), Elton (1967), Leff (1969), andHexter(1971).

BiographyPeloubet (!948) asserts that 'the growth of a profession is largely the reflectionof its great personalities' (p. 18). The basic source materials for conductingbiographical research consist ofthe individual's personal correspondence, publishedworks and speeches, as well as archival materials, ln addition to reviewing andanalysing these materials, the biographer must identify the principal influences,such as the educational and family environment, pertinent social institutions andemployment circumstances upon the individual's thinking. When feasible, recordingan interview with the subject is a valuable technique (Buckner, 1977).

Biographical research provides a flexible basis from which to undertake a varietyof historical investigations relating to the formation of accounting principles andinstitutions. Biography is 'fragile' because it relies on a single source — the subject— for authenticity, yet it also employs a wide variety of both primary and secondarymaterials (Kurland, 1982). Tbe historian must carefully establish that such materialsare authentic, credible, and adequate for the inferences drawn: this can be ascertainedby using multiple sources as cross-checks for assertions made. Disclosure of boththe supporting and critical aspects of such materials enhances credibility. Inter-pretations of the subject's background, character, work, the social and economiccontexts, background and impact on accounting must be justified by evidence anddefensible argumentation.

As Jones (1988) observes, Edwin Waterhouse's Memoirs were long sought butonce located present historians with difficulties in confirming or expanding uponthem since Waterhouse writes: 'One good that has resulted from my work is thedestruction of a large amount of correspondence, which might, from the mere factof its continued existence, have caused some trouble in the future'.

Examples of biography or biographically based studies of American accountantsinclude those of Andrew Barr (Zimmerman, 1980), Carman G. Blough(W. D. Cooper.1982a; Scott and Ward, 1982), Paul Grady and Ralph Johns (Zimmerman, 1978,!976), Eric Kohler (Mautz and Previts, 1977; W. W. Cooper and Ijiri, 1979).A. C. Littleton (Bedford and Ziegler, 1975), Kenneth MacNeal (Zeff, 1982), JamesO. McKinsey (Flesher and Flesher, 1985), Robert H. Montgomery (Roberts, 1975),William Paton (Zeff, Demski and Depuch, 1979), and John Raymond Wildman(Previts and Taylor, 1978).

W. D. Cooper's study of Blough is notable in the specific technical sense thatthe researcher gained access to previously restricted original correspondence byinvoking the Freedom of Information Act and therefore obtained direct documentary

For example. The Growth of Arthur Andersen & Co. t928-l97S: An Oral History by Spacek (1985)is both itistitutional and autobiographical.

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evidence useful in clarifying the meaning of terminology developed during the period.A primary example was a finding that explained Blough's intended meaning forthe term substantial authoritative support. The term had acquired alternativemeanings over time, but not until this discovery was there documentation to supporta definitive intended meaning.- The author also made extensive use of interviewsof the subject to support the conclusions advanced in the study.

The three volumes of autobiographical works titled Written Contributions ofSelected Accounting Practitioners prepared at the University of Illinois are acombination of the writings by the selected subject and the subject's commentaryon them, including statements to complete the context of the paper. Each of thesepublications has the unique aspect of involving the subject in the preparation ofthe volume.

Previts (1978) uses a biographical base to develop an explanation of the SECpolicies by comparing the policy actions of its chief accountants. The other studieslisted above are more typical biographical works based on the recollections of theauthors, who had a personal relationship with the subject, and/or on interviewswith related parties and on the subject's published works. Recent dissertation-basedbiographical studies, such as W. D. Cooper's (i982a, 1982b) study of Carman Blough,have done much to improve upon early dissertation biographies, which tended tobe limited to descriptive and chronological forms. Other commentaries on Bloughbase the assessment of his integrity under adversity during the initial period ofSEC accounting regulation on the personal traits developed in his family, whosevalues were formed by a father who was a minister (Carey, 1979), Similarly,W. D. Cooper (1984) identifies Mathews, one of the first SEC commissioners, asbeing an influence on Blough and, thus, on the formation of SEC philosophy,its interest in financial disclosure, and its publication of opinions on accountingmatters. McKinsey (Flesher and Flesher, 1985) is recognized as a managementconsultant, yet he was also a major contributor to American accounting educationin the first third of this century, having introduced not only early books on budgetingand management accounting but also an accounting principles textbook that hascontinued in successive editions to be a popular mainstay in college classrooms.L. D. Parker (1986b) establishes the fact that Henri Fayol, who is renowned forhis early contribution to management thought, provided the founding conceptsfor the accounting concept of goal congruence and for its exception principle,

Grady's (1962) editing of and commentary on George O, May's papers are aprincipal example of a practitioner developing the materials of a practising colleaguefor academic study as well as for future consultation by leaders in practice. Anexample of an anthology is J. D. Edwards and Salmonson's (1961) Contributionsof Four Accounting Pioneers: Kohler, Littleton. May and Paton, which consistsof digests of the principal papers on each subject through i960. W. W. Cooper,ljiri and Previts (1980) prepared a comprehensive anthology of the full text ofKohler's writings in Eric Louis Kohler: A Collection of His Writings (1919-1975).

' The term was formalized in the technical literature in Accounting Series Release No, 4 of the SECin the late !930s and was later adopted by the Council of the American institute of CPAs as thebasis for determining exceptions to Opinions to the Accounting Principles Boards Armstrong, 1969).

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Each of these works assists scholars and students by presenting either the originaltext material on which to base assessments or a concise statement of the majorpapers of the writers studied.

Institutional HistoryAn historical inquiry of institutions, whether the institution is identified as anestablished event, law, custom, profession, organization, or other entity, requiresthe review of records, correspondence, memos, news reports, internal reports, minutesand hearings of committees and boards, ln studies of this type, assessing and analysinginstitutions' social and political environments are important dimensions.

Institutional histories may be recoUective exercises by the author. Examples includeCarey's (1969-70) two volumes on The Rise of the Accounting Profession, Olson's(1982) The Accounting Profession—Years of Trial: 1969-80, and Moonitz's (1986)History of Accounting at Berkeley, ln Accountancy and the British Economy 1840-1980: The Evolution of Ernsl & Whinney (Jones, 1981), however, the author, aprofessional historian, is a non-participant, as is Miranti (1985) in his study ofthe American Institute of Certified Public Accountants (AICPA).

The concern that must be addressed in recoUective studies such as those by Careyand Olson is that 'the historian as a participant' may lose a desired degree ofdetachment, reflecting instead biases of a dominant group. For instance, theenvironment and episodes of the 1970s as addressed by the AICPA are the subjectof Olson's work (1982), which he undertook after his retirement as AICPA president.The candour of his style resulted in the addition of a 'Notice to Readers' to thefront matter after publication to address the concerns of some parties that his'history' unfairly represented their position. As George Smith, president of aninstitutional history consulting group, observes, 'You can never find someone whowas on the wrong side of a decision'(Bennett, 1988).

Another limitation of institutional histories is the potential for the 'selectivesurvival' of archival sources that are incomplete or biased representations of originalrecords. 'Besides employees, the other most important comprehensive source ofcorporate history is a company's internal records'. Often records are poorly stored,lost in transit, or destroyed due to fire or selective retention programs, ln suchcircumstances scholars seek out 'buffs'(employees who save every company documentand in-house publication) and collectors (employees who keep copies of theircorrespondence at home) (Bennett, 1988).

Institutional histories may also address 'movements' as well as 'entities'. A recentpaper by Birkett and Chua (1988) investigates the processes involved in constitutingthat which came to be labelled 'management accounting' by tracking the social-professional changes leading to 'institutionalization' (1988, p, 1).

Professional organizations and firms commonly use this type of history (R. Brown,1905; DeMond, 1951; Foye, 1970; Hopkins, 1980; Wise, 1982), In general, suchworks contribute to the development and understanding of the traditions of theaccounting firms and of the profession and also serve as a resource for furtherexplanatory research into the development of concepts, practices, and policies thatmay have been influenced by these institutions. Often the celebration of an

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anniversary or an awareness of the passage of time or a similar notable event suchas a retirement, induces such undertakings. Examples include The AmericanAccounting Association Its First 50 Years(1966); Goldberg's (1987) 'factual-narrative'monograph Dynamics of an Entity, which provides a three-part history of theAccounting Association of Australia and New Zealand from 1962 to 1985; worksthat honour the centennial of the Institute of Chartered Accountants (U.K.); theAustralian bicentennial (Gibson, 1988a); and the special centennial history versionof the Journal of Accountancy in May 1987, which addressed the AlCPA's historyin a series of papers, archival listings and essays.

Development of Accounting ThoughtScholars working in the area of the development of thought, as in the relatedfield of economic thought, seek to identify, articulate, and explain the role thatindividuals, institutions and ideas have in developing and disseminating knowledge.These scholars seek to improve the understanding of a discipline's teaching process,research and practice in response to an environment. Historians also may directtheir expertise to particular periods or circumstances. For example, Peragallo (1938,1983) and Kojima and Yamey (1975) have dedicated much of their academic careersto investigating the evolution of accounting in medieval and colonial settings. Otherhistorians working in the thought-development area seek to identify what constitutesan accounting concept or what justifies it; if, how, and why it changes; and theenvironmental factors and individuals that may have influenced it over time. Effortsby accountants in this area form a basis from which accounting thought may someday he developed into major studies similar to those in economics, such asSchumpeter's (1954) History of Economic Analysis. Principal examples includeLittleton and Zimmerman's (1962) Accounting Theory: Continuity and Change,Deinzer's (1965) Development of Accounting Thought, Chatfield's (1977) A Historyof Accounting Thought, Mattessich's (1984) Modern Accounting Research: History,Survey, and Guide, and McMickle and Vangermeersch's (1987) The Origins of aGreat Profession.

Premising new research techniques aided by computer-based technologies areenabling researchers to develop sophisticated citation analysis of recent researchliterature (Gamble, O'Doherty and Hyman, 1987) by adapting statistical approachesused in other fields to assess the origin, influence, and maturity of ideas by meansof cluster analysis of intra- and interdisciplinary citations (Bricker, 1988).Furthermore, scholars are now beginning to develop teaching materials whichamalgamate theories and provide historical perspective as a means of bridging thetemporal and geographical barriers to an international curricuiutn (Whittred andZimmer, 1988, see Chapters 4 and 7).

Important topics such as LIFO valuation (H. Z, Davis, 1982); going concern,conservatism, and materiality (Newman. 1979); inflation accounting (Schmalenbach,1980; F. L. Clarke, 1982; Graves, Dean and Clarke, 1989); accounting control concepts(L. D, Parker, 1986c); the'orientation'postulate (Zeff, 1962); and accounting theorydevelopment in particular national settings (Weilenmann, 1979; Skinner, 1987) havebeen the objects of thoughtful study. Anthologies patterned after those by Baxter

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(1950), Littleton and Yamey (1956), and Moonitz and Littleton (1965) have alsoprovided cross-sections of theory development writings useful in establishingreferences for present-day study.

An important potential for developing accounting thought research lies inidentifying the interrelationships between individuals, technology, concepts, and legaland economic customs and in tracing the changes in these relationships as theyimpact the development of knowledge over time. Dopuch's (!980) paper on theorydevelopment, for example, contains a section entitled 'Historical Patterns ofEmpirical Research', which notes that empirical research 'was almost unheard ofin accounting before the appearance of high-speed computers and information"tapes"'. Such expert observations can serve as an outline of an historical hypothesisabout the dynamics of research methods, technology, and research issues that canlead to more rigorous historical investigation.'

Contemporary attempts to explicate schools of thought include those in AStatement on Accountittg Theory and Theory Acceptance (AAA, 1977), whichemploys a consensus approach to discern three basic theoretical approaches (classicalor true income, decision usefulness, and information economics) to frame a 'general'theory of external reporting.-* Chambers' (1979) review of the development of thestudy of continuously contemporaneous accounting is a more complete, first-handexample. Others (Previts, 1980) identify groups, such as a pre-classical school ofAmerican writers, who adopted modified historical cost asset valuation techniquesduring the period 1900-1920. Merino and Coe's (1978) paper suggests that argumentsin favour of greater uniformity in accounting are not 'new' and that uniformityhas failed to provide a sure solution. Previts (1985) and R. H. Parker (1986) relatethe development of professional accounting services in American and British practiceas a means of considering contemporary concerns as to the scope of services. Wells(1978a) studies the origin and development of cost allocation techniques withattention to the influence of engineers and economists, as well as accountants. Previts(1980), Wells (1976 and 1978a), Cushing (1989) and others have sought to drawfrom Kuhn's (1970) paradigm arguments to explicate their classifications. Wells(1976), Beaver (198!) and Someya (1989) term their considerations of recent changesin financial reporting thought a 'revolution'.

Other examples of thought-development research include Moonitz's (1970) 'ThreeContributions to the Development of Accounting Principles Prior to 1930', an essaythat was later expanded into a book-length treatment entitled Three Contributionsto the Development of Accounting Thought (1978), J. R. Edwards'(1980, 1981)studies of the evolution of British company legislation. Merino and Neimark's (1982)appraisal of SEC disclosure regulations, Flegm's (1984) critique of the currentstandard-setting process from a preparer's perspective and Zeffs (1984) review of

Such expert opinion may prompt historical research. Consider Demski's views on 'what has happenedover the past twenty-two years?" (1987. p. 89).Chandler's (McCraw, 1988) edited essays on an 'historical theory of hig business' supply a corollaryfor accounting historians to consider in developing a broader perspective on which to assert historicalinterpretation in a competitive economy.

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the circumstances attending five major turning points in the process by whichaccounting principles have been established in the United States.

General HistoryThis area of accounting history research is distinguished from the previous category,thought development, in that it adopts an extensive temporal perspective focusingon issues such as practice in a particular country, the development of a nation'saccounting profession over several centuries, or the progress of a whole sector ofthe discipline, such as cost accounting.

The process of undertaking a general history in accountancy for a particularcountry involves not only searching, collecting, tabulating, and interpretinginformation, but also considering such aspects as what would make the study uniqueand what audience (e.g., practising or academic) it would serve.

Examples of book-iength genera! history research include Accounting Evolutionto 1900 by Littleton (1933), Origin and Evolution of Double Entry Bookkeepingby Peragallo (1938), Evolution of Cost Accounting to 1925 by Garner (1954), Historyof Public Accounting in the United States by J. D. Edwards (1960), and A Historyof Accounting in America by Previts and Merino (1979).

BI T ]

HISTORICAL RESE.ARCH SUBJECT MATTER

Area Principal aspects

Biography

Institutional history

Development of thought

General history

Critical history

Data basestaxonomies andbibliographies

Historiography

Influence of key individuals on accounting concepts, practice, andinstitutions

Traditions of the accounting profession and organi7ations. Considersinfluence on the social, economic, and political environments; sourceof data for explanatory research in other accounting history subjects

Identifies and explicates conceptual foundations and individuals andinstitutions related thereto. Traces and models conceptual develop-ment; impact of schools of thought on practice and other disciplinesand institutions

Macroperspective of accounting development; traditional and/ornational emphasis; develops specific areas (e.g.. cost accounting)

Adopts a perspective inclined toward criticism in examining the roleof an historical factor in the context of conflicting social, political,economic, and institutional interaction

Source of primary information; support for contemporary andhistorical research

The structure of historical research; evaluates accounting historyre.search; perspective on methods for conducting and interpretingaccounting history research

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These general studies provide researchers with a broad perspective and frameworkwithin which to focus on particular micro-issues in accounting theory, measurement,or disclosure. The studies also provide a basic reference point for the identificationof past environmental factors that have influenced extant accounting concepts orpractices. To date, few of these studies have drawn the attention required to ensurecommercial success, revision and republication. Such general studies are more widelyadopted for teaching and quoting in research in fields other than accountancy.Frequent utilization in class or text applications results in corresponding suggestionsfrom adopters and researchers that lend support to a revision and republicationcycle.

Critical HistoryThe writers of critical history view accountancy as an interested, influential activityrather than as some neutral, technical process (Gaffikin, 1987, 1988a). ln criticalhistory, accountancy is studied as a social and political activity in itself, both reflectingand influencing its economic, institutional, political, and social environments. Thus,accountancy history is written from the viewpoint of accountancy not just as areflective phenomenon but also as a constructor of organizational and socialrelationships. This problematical approach to accountancy has been articulated bysuch writers as Burchell, Clubb, Hopwood, Hughes and Nahapiet (1980), Hopwood(1983), D. J. Cooper and Sherer (1984), and Chua (1986).

Critical histories have been constructed from various theoretical perspectives.Glautier (1983) employs a macro-perspective of accountancy development in arguingthat modern accountancy is in crisis due to the centralization of political power.Niemark and Tinker (1986) employ a political economy accountancy perspectivein their socio-historical study of General Motors' strategies of internationalizationover a sixty-year period and examine the social construction of management controlsystems employed. Loft (1986) utilizes the mode of analysis advocated by the Frenchhistorian Foucault to study the history of U.K. cost accountants and cost accountingduring and after World War 1 by examining their proactive involvement in thesocial and political life of the period. This method of analysis is also used by Hoskinand Macve (1986) in their macrohistory of the development of accountancytechnology and its associated knowledge set as a source of professional power.

Albeit that they view accountancy development through different theoreticalperspectives, these critical histories emphasize the relationship between accountingand its organizational, social, and political content. These perspectives cause usto recognize the ability of accountancy to shape its own environment rather thanmerely to reflect it. It can now be expected that the product of historians ofaccountancy, which has already begun to reflect an understanding beyond thepreviously technical or descriptive, will adapt even more in response to such criticalcommentary.

Data BasesChronologies, bibliographies, and taxonomies are specialized types of historicalresearch that provide source/reference information to assist in other historical

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research. Examples include Skousen's (1970) 'Chronicle of Events Surrounding theSegment Reporting Issue'; Zeffs (1972a) 'Chronology of Significant Developmentsin the Estabhshment of Accounting Principles in the United States 1926-1972'; Pryce-Jones and R. H. Parker's (1974) Accounting in Scotland: A Historical Bibliography,Wells' (1978b) A Bibliography of Cost Accounting: Its Origins and Developmentto 1914:, R. H. Parker's (1986) continuing contributions, which are based onBibliographies for Accounting Historians (1980); Hausdorfer's (1986) AccountingBibliography: Historical Approach, and Gibson's (1988b) 'Chronological List ofBooks and Articles on Australian Accounting History'.'

This type of historical research appears to differ from types previously discussedin that it does not attempt to provide extensive social and economic backgroundsor to interpret or explain key influences and causes, models, or frameworks. Itseeks to provide descriptive information about events, dates, times, groups of items,sources, and related publications. Accordingly, this research must be expected tobe detailed, correct, in the literal sense, and well organized for ease of use.

HistoriographyHistoriography, as previously defined, is the study ofthe writing of history; it includesthe theory, methodology and development of historical writing. Studies of thedevelopment of historical method exist as early as the sixteenth century (Gentile,1965; Pflug, 1971; Witschi-Bernz, 1972) and concern the problematic nature of thehistorian's craft, as well as such concepts as fact, evidence, causality, historicaltruth, narrative, and many other subjects. Historians include the following basicreferences for this area: Anderle (1965), Fogel (1970), Dray (1971), Gilliam (1976),Tannenbaum (1979), and Himmelfarb (1987).

Historiographic writing in accounting has been limited due to the period of timeduring which broadly based academic historical accountancy research has beenundertaken. Historiographic writings such as this paper are likely to be in demandas a means to guide and appraise the 'state of the art' of historical endeavours.Examples of papers providing assessments of the state of the art of accountinghistor\( include Gaffikin's 'The Archaeology of Accounting' (1988b), R. H. Parker's(!981) 'The Study of Accounting History', Goldberg's (1974) 'The Future of thePast in Accounting', Homburger's (1975) 'The State of Modern Accounting History',Baladouni's (1979) 'The Study of Accounting History', and the Report of theCommittee on Accounting History ofthe American Accounting Association (1970).

HISTORICAL METHOD

Any subject of historical research must be approached by employing researchmethod(s) considered appropriate to the facts being sought and the issues beinginvestigated. That is, 'the problem determines the method'. Available historical

5 One of the earliest comprehensive listings of American accounting works which remains a significantresource to scholars is the Bibliography of Works on Accounting hv American Authors. Vol. I. 17961900; Vol. 2. 1901-1934 (1934; 1935) by Bentley and Leonard (Vol. I coauthor).

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methods include both qualitative and quantitative approaches and offer a richresource to the would-be researcher. For example, in our previous paper the contrastsbetween the narrative and the interpretative types of historical inquiry were noted(Previts et el., 1990). Thus, a narrative history of thought project may seek toidentify events, episodes, and outcomes with descriptions of theories of knowledge,the unique works of individuals, their systems of values and the criticisms of theirrelated works.

Historical research written in the social science, interpretational mode, attemptsto identify and classify systematically information according to explanations andinterpretations about the historical subject matter. Historical facts are identified,collected, and examined for interconnectedness. When such facts are employed inan interpretational project, they are used to support an hypothesis about thephenomenon under study and to develop a means of testing it. Even when a rigorouslycontrolled historical empirical study is undertaken and researchers are satisfied thatstatistical tests indicate that a significance exists, a qualitative evaluation of thehistorical content of the issue is relevant, for to fail to account for situationalvariables in the environment risks misunderstanding the possible meanings of theempirical findings. Sources useful in addressing this matter are Garraghan (1946),Tholfsen (1967), Hexter (1971), Merino, Koch and MacRitchie (1987), and Merino(1988).

Methodological IssuesHistorical methodology encompasses the variety of techniques available to ailresearchers. Historical theory concerns the philosophy of history, theories ofhistorical development and process, the nature of historical explanation andjudgment, and the roles of historical criticism, rationality, and analytical history.Within its ambit falls discussion of the problematic issues of the historian's art,such as ideas of fact, historical truth, impartiality, assumptions, and narrative(Gilliam, 1976; Dray, 1971; Fogel, 1970; Muller, 1967).

Some, particularly those of the realist-empiricist school, see historians as firstcollecting evidence and then building accounts of the past on that evidence. Others(the instrumentalist-constructionist school) regard historians as taking present-dayobjects or events and explaining their existence by constructing an account of thepast (Hurst, 1981).

The distinction established in a previous paper between narrative andinterpretational types of history is most often dictated by the view of how a problemis defined and what methodology is chosen to investigate it (Previts et al., 1990).

Barzun (1974) holds that history is narrative-specific, particular in time,nonanalytical, and memorable. His view of methodological considerations issuggested by his commentary on 'The Question of Method';

The proponents of History as Social Science express surprise that historians appear 'hostileto any kind of normalization of research procedure' and 'resent the use of words likere-tooling'. There is, one hopes, no word like re-tooling, but the historian's objectionis not perverse. It expresses a refusal to play at the laboratory life, where tools—materialinstruments—are indispensable . . .

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The historian, aware of his own taxing duty to reproduce in another mind the exactpattern in which he has organized his findings, doubts the capacity of the graphic-quantitative mode of representation for truth-telling. He is unfavorably struck by theangular rigidity of graphic and numerical statements, coming on top of the extremely"soft" manner of defining, classifying and admitting or excluding the data. (pp. 39-40)

The historian's need to be creative and adaptive in addressing each historicalsituation, while respecting the uniqueness inherent therein, underlies a principleof methodological concern. Of cotirse, not all historiatis eschew the use of statisticalmethods, but the circumspect attitude of narrative historians is deliberate.

Historians, including Carl Degler, who are influenced hy the research traditionsof the social sciences, champion the view that explanation is inherent to historyand thus interpretation, more than just the factual story, must be undertaken.Historians seeking to account for past behaviour must interpret, says Degler, because'they have to' (!987, p. 80). The validity of an interpretation depends not onlyupon the availability of resources but also upon the manner in which the historianchallenges and marshals the evidence presented (Potter, 1973, p. 5).

Because historians acquire facts from both primary (e.g., a corporation'saccounting records) and secondary (e.g., a corporation's annual report or a businesspress release) sources, they must take care to ensure that these facts are authenticated,representative, and subjected to tests that will detect bias (Perry, 1972).

Some specific comments about the process of inquiry and the application ofhistorical methods can be made here.

Sources of evidence and their origins must be identified, reviewed for relevanceto the inquiry, and classified by time, place and origin of production, primaryor secondary characteristics, content and aim.

The historian must consider who produced the evidence, its original form andits apparent credibility.

Authenticity can be tested by such means as lack of contradictions to apparentauthorship by name/identification printed on the document, attributions bytrustworthy authorities, resemblance to other known genuine documents (e.g.,in content, diction, style) and consistency with known environment at the time(Leff, 1969; Garraghan, 1946).

When facts are inferred from the evidence they must be collated to determinewhether they are compatible or contradictory (Hughes, 1970).

The assembly and judgment of facts must be made with reference to the knowncontext in which they occurred. Three archetypical questions are posed in doingthis. The first two relate to both narrative and interpretational forms. (1) Whathappened? (2) How did it happen? (3) Why did it happen?

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Having identified facts, any patterns of events and content, the historian is thereafterconfronted with the task of identifying causes. These may be both multiple andinterrelated and can never be all identified nor known with complete certainty.

A social science historian weighs probable influence judged in the light of thehistorian's epistemology. knowledge and understanding of the context in whichthe facts are located. Thus, historical propositions are time-bound and contextualin nature; that is, they must be judged by the standards of the period being studied.If a proposition can be maintained only by expanding the assumptions, its plausibilityis reduced (Postan, 1962; Leff, 1969).

Methodological ReviewCliometrics. A term derived from Clio, the muse of history, and metrics (or measure)and popularized by economic historians, cliometrics continues to be developed asa significant research method. Serving as the basis for what has been called the'new' economic history, it involves the application of econometrics and quantitativemethods to historical research. Using tools such as regression analysis, linearprogramming, input-output analysis, factor analysis and simulation, historiansattempt to reconstruct dimensions of economic institutions from surviving primarydata in order to reinterpret economic history while stressing the relationships betweenmeasurement and theory. In addition to the important early works of JohnR. T. Hughes (1970), Fogel (1966, 1970), Fishlow (1974), and McCloskey (1978),the works of McClelland (1975) and L. E. Davis (1970) also provide fundamentalapplications based on cliometric methods. Cliometric modelling applications haveinstigated sophisticated uses o f counterfactual'conditional statements that considerwhat might have happened if a particular historical condition or event has beenmodified or omitted. As such, it is a manipulated experimental/ pro forma applicationto history. Counterfactuai research allows the historian the possibility of discoveringthe consequences of changing the variables central to an observed historical eventand of identifying consequences or magnitudes corresponding to states that werenever realized. Observed differences in apparent consequences help the historianidentify the role of a particular historical element in the observed historical outcome(Fishlow, 1974). Thus, an accounting example might develop the outcomes relatedto a counterfactual authoritative 'standard' for measurement or disclosure in orderto provide another set of observations in contrast to those of historical origin.A counterfactual premise, stated in the form of a hypothetical question, wouldbe for example: If the Securities and Exchange Commission had not issuedAccounting Series Release 190, what would have been the FASB's action with regardto inflation accounting in the late 1970s? (For more information on counterfactualsource materials see Appendix C of our preceding paper.)

Empirical approaches. An example can be found in Lewis, L. D. Parker andSutcliffe's (1984) paper on the development of corporate financial reporting toemployees. From 216 publications identified by bibliographic search, a histogramof annual publications and a cumulative publications graph revealed relatively regularcycles of high and low levels of interest. Economic and social histories of the U.S.were reviewed for events and issues affecting labour. Those occurringjiear the periods

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of high levels of interest in reporting to employees were identified, but those notrecurring in every period of high interest were eliminated. Four factors appearedto stimulate an interest in reporting to employees. The sample of 216 publicationswas then re-examined to determine whether any reference was made to these factorsby the authors of the publications. The findings generally supported the four factorsas relevant to employee reporting.

Further analysis of the ptiblkations' content revealed fifty-six separate reportingissues, of which 55 per cent were discussed in four or more of the seven time-period blocks that constituted the i919 79 period. Three factors were hypothesizedas influencing the observed high level of issue repetition:1. The lack of recognition of prior research.2. The variable interest of management and accounting groups unacquainted with

each other's literature.3. The lack of cross referencing among nationalities.

With respect to the first item, an examination of the footnotes and thebibliographies of all 216 publications on reporting to employees indicated that only6 per cent referred to a related publication in any period. With respect to thesecond item, the 216 publications classified by accounting/non-accounting authorrevealed a countercyclical relationship between interest shown by accountants andmanagers. With respect to the third item, almost all pre-1970 publications wereof U.S. origin. Thus, overall, the evidence supported hypotheses one and two, butnot hypothesis three.

This research involved frequency tabulations; content analysis; triangulation tests;longitudinal analysis; time-period, author, and publication classification; andtraditional approaches to the assessment of probable influence.

ln terms of quantity, examples of empirical work in accounting history researchhave been limited to date, but evidence as to the use of quantitative approachesto support historical interpretation is becoming more frequent. Recent examplesof empirical and statistical studies include those by Freear (1982), Vangermeersch(1984), Brown and Easton (1986), and Dillon (1984). Dillon's research, based onhis disjsertation 'The Role of Accounting in the Stock Market Crash of 1929', affordscontemporary researchers a useful model for comparative historical investigationof the phenomenon of the 19 October 1987 Dow Jones Industrial Average marketplunge. When combined with new software, such as the recently released AppleH simulation series, 'Model of the United States Economy from 1929 to 1933',which supports counterfactual-type 'what if experiments with the economy duringthe Great Depression, substantial comparative research may be possible. Aspreviously noted, application of computer techniques in conjunction with citationbibliometrics also holds promise in research relating to the development of accountingthought.

Content analysis. In recent studies this approach has emerged as an additionto the quantitative methodologies available for accounting history research.Neimark's (1983) paper on the use of content analysis in historical researchdemonstrates an index construction and graphical representation of dialecticalthemes in General Motors' annual reports over sixty-one years. Committe's (1982)

148


research also applies a content analysis method in an investigation of meaningsapplied to the term independence in the federal securities law hearings of the 1930s.Content analysis has many uses; an obvious one involves analysing the informationcontent of corporate annual reports over extended periods of time. Such analysismay involve coding information and report characteristics, developing represen-tational indices for particular variables being observed, and graphing frequenciesover time (Neimark, 1983; Lewis. L. D. Parker and Sutcliffe, 1984).

Case method field based research. The case method represents a form of studythat offers considerable promise for accounting history research. It has beenadvocated for accounting research in general by Hagg and Hedlund (1979), Postand Andrews (1982) and Kaplan (1984). Its emphasis on qualitative, holistic analysismakes it particularly suitable to historical research by allowing the researcher tolook at problems as a whole and to take into account a multiplicity of variables.It offers a high degree of relevance in that it attempts to represent and analysesituations, including complex attributes, as they actually occurred (Buckley, Buckleyand Chiang, 1976). Analysis and description of the research subject are facilitatedand can be set within their historical context. The case method technique can beapplied in longitudinal studies of patterns of development and is not limited tostatic, cross-sectional analyses. The historical studies of Johnson (1972, 1978) andJones (1981) are examples of this research approach.

Initialing Historical Research Projects'What process do 1 follow to start an historical project?' Although the reductionof such efforts to a set of general steps, particularly in interpretive work, is notappropriate, some points of evaluation can be identified (Table 2). The specificmeasures that relate to social science outcomes, such as step 6, might not beappropriate in assessing a narrative project.

TABI r 2

ELEMENTS IN A PROCESS OF HISTORICAL RESEARCH

1 Problem I hipothesis .'•pedfUarion: statement ofthe object of inquiry

2 Data identification and collection, procedure, type, scope

3 Contextual relationships: cultural, social, technical, economic, and political

4 Methodology: specification, testing, application and validation

5 Evaluation of evidence: primary and secondary, reliability

6 Causal asses.iment: probable, logical and interrelated multiple influences

7 Statement of findings: specified in terms of objective of the research, statement of limitations

8 Conclusions and recommendations: statement of contribution, implications for research, policy andor practice, suggestions for further research

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In historical research, as in all similar efforts, the findings must be facilitatedby a clear explanation of the research method employed and the justification ofits appropriateness to the questions being investigated and/or the hypothesis beingtested. The researcher should provide a rationale for each element of the process,including source selection; analysis and verification of sources; a justification fortime periods selected; the classifications of concepts, methods, or schools of thought;the role of primary and secondary sources; and the population versus sample selectedfor study. As warranted, the cultural, social, economic, political, and technologicalcontexts should be considered in the process; if addressing matters of causation,the researcher should inquire as to the following:1. Have inferences and generalizations been drawn beyond the capacity and

reliability of the evidence?2. Has the evidence been interpreted taking into account the social values, norms,

and limitations of the period under scrutiny?Finally, the reader is entitled to a clear statement of research findings, as well

as implications for accounting development, contemporary accounting, and futureresearch for the reader's further deliberation, particularly when the alternative isto leave the reader to speculate unaided.

Further ResearchMany opportunities for further historical research exist. Narrative studies willcontinue to be written, spurred by those who are thoughtfully curious about anevent, an individual, an idea's origin or an institutional phenomenon. The interestin and need for longer term empirical investigation of markets' phenomena mayincrease archival activity to develop data bases where opportunities for empiricalwork do not already exist. Interdisciplinary approaches to accounting history alsooffer challenges for researchers to examine the impact of accounting and theenvironment each upon the other (Hopwood, 1983). Considerable work also needsto be performed in causal, explanatory and theory-testing studies in accountinghistory. Institutional histories of both corporations and professional firms are needed,especially given the recent consolidation movement among major public accountancyfirms. As noted by Bennett (1988): 'Corporate histories are increasingly disappearingwithout a trace, as more companies are restructured, sold off, shut down or otherwisedismantled. And if corporate evolutions aren't recorded, the lessons of the pastwill be lost.'

As specialization of practice functions, including attest-audit, advisory andtaxation, continues to develop in an increasingly international capital markets'environment, historical research can be expected to be involved in identifying thebackground and evolution of specialized conceptual and institutional issues. Specifichistorical studies relating to the evolution of auditing practices and theories;recognition and analysis of anniversary events (Commerce Clearing House, 1988);and the undertaking of historical inquiry related to comparative national standardsin reporting (Zeff, 1972a, 1972b, 1973), auditing (Needles, 1985), and taxation(Sinning, 1986) can each be expected to increase in the coming years.

150


Comparative national studies such as those pioneered by Zeff in the early [970srepresent one of the most challenging forms of future historical research. Zeff (1972b)observes with regard to this early work;

In devising the research plan. 1 was surely naive. Mexico, 1 thought would be easy . . . 1already knew the United States, and I feh that through correspondence I could cometo understand the approaches in Canada, England and Scotland. Nothing was furtherfrom the truth. I learned that precious little had been written on the process . . . Withoutsecondary resource material it became more imperative to unearth all the relevantdocuments, many of which had never been published. They had to be supplementedby interviews . . . 1 soon concluded that visits would have to be made to each country,(p. Vvf

CONCLUSION

This paper has set forth a historiography of accountancy, including demonstratedexamples about subject matter and methodology. Having provided references fromaccountancy literature and from other fields, particularly economics and generalhistory, the paper has demonstrated that accountancy history continues to identifypromising subjects and to develop techniques that will assist in deriving relevantknowledge for the present from the events of the past.

Accounting researchers now may draw upon philosophical, conceptual,explanatory, applied, case study, counterfactual, quantitative and interdisciplinaryapplications in history. Historical research in accountancy offers useful insightsinto present and possible future issues, supplementing the 'positive' (is) and the'normative' (ought) with the 'historical' (was).

In both the American Accounting Association's recent report. Future AccountingEducation: Preparing for the Expanding Profession (1986, p. 183), and the issuespaper of the major firm Arthur Andersen, entitled Perspectives on Education:Capabilities for Success in the Accounting Profession (1989, p. 8), the history ofaccountancy is noted as being a vital part of understanding the role of being anaccoutiting professional. Accordingly, much opportunity exists for challenging andrewarding work in historical research and curriculum development to meet theinformation needs of society.^

Put in another way, it is not a socially cost effective use of our intellectual capitalto have to reinvent solutions that would otherwise be known to us through a welldefined historical tradition. As two accounting academics recently observed: 'Wecannot understand, or economically evaluate accounting without this sense of history'(Demski, 1985, p. 73); therefore 'historical research should be a staple in any scholarlyliterature' (Zeff, 1983, p. 134).

' See also Zeff (1972a), ten Have (1976), and L. D. Parker (1986a).

' The 1989 document states; 'Post secondary education should provide a strong fundamentalunderstanding of accounting and auditing. This includes the history of the accounting professionand accounting thought as well as the concepts, structure and meaning of reporting for . . .both . . . internal and external use.'

151

ABACUS

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1. an accounting historiography

Documents

history of accounting

historical study

professors of accounting

process of historical

subject areas

general history

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historiography previts