‘Lady Accounting’, an analogy using blood circulation to popularise an accounting view of the health of the firm

Abstract

This paper examines the attempt by Deuwez in 1933 to explain accounting concepts and ideas to non specialists through the analogy of the process of blood circulation within human beings. It comprises two main sections. The first section comprises two reviews: first, of accounting ideas of the period 1900–33 and developments therein; and, second, an examination of contemporary knowledge of blood circulation and the operation of key human organs in relation thereto. In the second part of the manuscript, the analogy is examined in more depth, with some limited attempt made to consider whether or not the blood circulation system is an apposite analogy.