Abstract
The Asiento was an agreement between the Crowns of England and Spain of tremendous economic and political consequences. In spite of its importance, very little is known about the accounting practices of the Asiento. This paper demonstrates that the developments of the Asiento were very much linked to the lack of accountability of the South Sea Company (SSC) before the Spanish Crown and describes the characteristics of the accounting system used by the SSC to provide information on its developed economic activity. It also discusses the role of accounting in the resolution of conflicts between the tenants of the Asiento, the SSC and its Spanish counterparts.