When the age of the industrial revolution is about to begin, Adam Smith pointed that the division of labor and private property system multiply the wealth of Nations. Though he was negative about joint-stock companies because he believed the management of the companies are "be negligent spenders ' and he thought that no company will be be successful without exclusive privileges. The capital and the management were legally separated, but the business accounting which finding managers to earn profit have not been established in his age. Many people learned that the shareholder has the risk and loss by Railway Mania and depressions, and find the utility of the accounting information to find a capable manger who can keep his promise to earn the profits, or not. Accounting information dived out the “negligent spenders” management. Many corporations begin to get profit, after find the capable executives, and the function of the social division of labor of the capitalists and employers begin to work without exclusive privilege,
