PurposeThe main aim of this paper is to illustrate the importance of avoiding Whig interpretations in historical research. It does so by highlighting examples of what may occur when this is not done. The paper also aims to promote interdisciplinarity, in the form of working with those from other disciplines, as a means to avoid this occurring.Design/methodology/approachThis paper includes an in-depth study of the bookkeeping and financial reporting of two 18th century Portuguese state-sponsored companies using archival sources. The companies were selected because of conflicting insights across disciplines concerning the quality of their bookkeeping and financial reporting – historians have been very critical, while accounting historians have seen little wrong. These differences of opinion have never previously been investigated. The authors demonstrate how information was distributed among the account books and other records of the two companies. The approach adopted enabled a reade...