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.