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Accounting is not a science because it can be easily adjusted to achieve a favorable result. In mathematics, to solve the equation x-1=2, you have to solve it the way you're supposed to, or else you won't get the correct result. There is not much room for creativity. In accounting, however, there are many ways to "cook the book". For example, to accurately reflect the ability of a company to create value for its owners, the stockholders, accounting is mostly accrual basis, which means that you record revenues when you earn them and not when you receive cash as in cash-basis accounting, which is generally not accepted in preparing financial statements. But in accounting there exist methodologies such as the mark-to-market accounting that allows a company to record future profits on the very day a deal is signed. No matter how little cash actually comes in the door, to the outside world and to investors the company's profits can be whatever the company claims them to be. Think about the many cases of accounting scandal and fraud to see why accounting is not exactly a science. Science is a body of reliable knowledge that can be logically and rationally explained. Accounting doesn't always satisfy these criteria. It is more like an art, the expression or application of human creative skill and imagination.
What else can I help you with?
Is accounting science or an art?
No - Accounting is a science. Just as mathematics is. Now, perhaps creative or rather less then straightforward accounting may be considered an 'art' but with no more credibility than a cat burglar considers his singular skill to be.
Why is accounting called a science?
Because Winnie the pooh put steroids in his honey!
Do all companies have an accounting cycle?
Any well run company does have accounting cycles.
On your model how could you distinguish one era or period from another and How could you show when particular organisms evolved and when they became extinct?
This is the exact question on a science assignment recently given to me. Who is this??
Describe your personal qualities that suit the requirements of this position as accounting clerk?
When asked this question you should focus on your ability to computer numbers accurately and your ability to communicate effectively. As an accounting clerk you will be responsible for talking to representatives in other company's accounting department.
Is Accounting as an art or science?
Accounting is a science.
Is accounting a science or a art?
Accounting can be considered both an art and a science. This is because accounting is a very complex task for most people.
Is geometry an exact science?
Geometry is not a science but it is exact.
Why accounting related in computer science?
accounting is related to computer science due higher calculations used in mathmatics.
How many years of coarse Bachelor of Science in Accounting Technology?
how many years in schooling of Bachelor of Science in Accounting Technology
Is financial accounting an art science or both and why?
Financial accounting is an art and a science. ÊThe art of accounting is recording, reporting, and analyzing. Finance is the area that is being studied in accounting.Ê
Importance of chemistry in accounting?
I do not believe there is a relationship between chemistry (the science) and accounting
Is accounting a branch of science?
Although it uses some mathematics, accounting is a branch of economics.
Is accounting an art and a science?
It is a bit of both.
Can a high school science graduate make a college do over and go into accounting?
Yes,you can switch on to accounting even you have science background. You will need to understand the basic concepts of accounting because the whole accounting is based on it`s concepts and principles,they should be learnt properly for performing accounting.
What are basic college requirements for accounting?
The initial requirements will include a general education cluster to include, English, math, exact science, social science, humanities , and prerequisite business and accounting courses in preparation for higher level major requirement and major elective course work to include some of the following: * Intro to contemporary business * Micro and macro economics * Business law I * Accounting I and II * Business electives
Is accounting art or science?
accounting is both an art and science.........but more than science it is an art.because it fulfills the both aspect of an art(knowledge+ systematic work pattern).it fulfills only one aspect of science(knowledge for doing work in a system) but there is no logic or fact behind every accounting concept or rule ..........science based upon fasts and logic..
