What is it about?
This philosophical poem challenges the wide beliefs of religious explanations about Power and Peasant, Rich and Poor etc. This poem provokes thoughts on the origin of basic accounting principles and their historical roles in sustaining social injustices
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Why is it important?
Religious concepts have been widely used to justify various historical social injustices. Four basic accounting principles; matching, accrual, going concern and reporting cycle perfectly correspond with life cycles, the acts and rewards of such lives, and “balancing” the pains and gains of individuals and society. These concepts, which have now become the foundation of accounting, were in existence millennia ago.
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This page is a summary of: The oldest profession, Accounting Auditing & Accountability Journal, July 2012, Emerald,
DOI: 10.1108/09513571211250279.
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Resources
ENTERPRISE FINANCING, EMPLOYMENT GENERATION AND ECONOMIC DEVELOPMENT
The res earch findings show how does the powerful social class, which controls financial cap ital in Sri Lanka, follow preferential financing policies under the façade of nationalism or patriotism and social responsibility, to protect and strengthen their own socio-economic power base, while neglecting credit applications of potential entrepreneurs from powerl ess class. Therefore, the research findings indicate the need to place an emphasis on some radical structural change s in the financial c
Role of Bank Lending in Sustaining Income/Wealth Inequality in Sri Lanka
Credit decisions supply money to influential indivi duals and it is argued that such economic power enhances the social powerbase o f those individuals, which in turn reinforces the propensity to make pre ferential credit decisions, thereby making them richer. In contrast, a lack of money translates into powerlessness, deprivation and exclusion from socia l activities for the majority of the poor. In this process opportunities are lost to disadvantaged social groups and this necessarily r
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