Accounting Theory Essay

601 Words 3 Pages
Accounting is in the current state of being an art. It is referred to as a social science, but the question that still remains in view today is should accounting be an art or should it actually be a science? Although the move to scientific based accounting would be desirable in today’s society it is not possible.

When you consider the facts of this issue in a true debate style, the scientific based approach does not work and cannot do today what the current system does for its users.

Accountants provide information that is reliable, verifiable and precise. As well it is crucial those accountants are considered trustworthy and that the information can be confirmed by another source. Without this there is no future of accounting and
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Sterling, the man who has led the charge to switch to a scientific based approach, described scientific accounting “as a process of keeping track of real things in the real world.” But in different cultures and different parts of the world who determines exactly what is real, and what the terms of realism between cultures are. Some cultures cannot even speak of death because to do such a thing puts a curse on the person you are talking about so how would you do estate accounting; you could not possibly plan such a thing in that culture because it is forbidden. In a scientific based approach you would be required to however as you would be following the rule based approach laid out before you. The only thing that we absolutely know as real is the knowledge of “I think, therefore I am”.
Accountants need to use a measurement of value for the information they provide. However is money a fair value of measure? Value is an immensely complex concept. In today and in the future incomes will rise drastically creating the need to use a different measurement. Also if incomes are on the rise then why is happiness not on the rise at the same rate. Accountants need to consider this value measurement and the scientific based approach.
Accounting as an art certainly has its flaws. It gives the providers the chance to play with numbers to make them the best possible for its users. Is this a problem, the past says it can be, but it does not have to be.

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