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Accounting is a profession.
This is because:-
a "scientist" works using the scientific technique - observes, forms a hypothesis and tests the validity of the hypothesis experimentally and publishes the method and results for others to check.
an "artist" works using imagination and creativity to produce objects (music, literature, painting, films, dance, entertainment).
an "accountant" takes facts and orders them into tables and manipulates them using well proven mathematical techniques. Therefore while a valid and honorable profession, the basic job of everyday accountancy does not require hypothesis and experimentation or imagination and creativity.
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Other contributors opine:
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Accounting is a science.
Accounting is an art as well as a science.
Art is the technique which helps us achieve our desired objective. Accounting is an art of recording, classifying and summarising financial transactions. It helps us in achieving our objective of maintaining proper accounts, i.e. , to know the profitability and financial position of the business.
Any organised knowledge is based on certain basic principles in a 'science'. Accounting is also a science. It is an organised knowledge based on certain basic principles.
Accounting is only scientific in theory and practice.
If someone is quickly efficient and the numbers balance, the "perspective" is that they're artistic...
Wiki User
∙ 10y ago
Wiki User
∙ 11y agoFinancial Science and Art's methodology, as the name implies, is both a science and and art. Our methodology applies math and statistics to established economic principles such as competitive life cycle, growth limits, return on capital limits and cash flow valuations. That's the science. All of our reports and recommendation are supported by our methodology, we all speak the same language and we all understand mathematical principles of economics. However, forecasting is an art. While our analysts adhere to our methodology, there is some degree of freedom to adjust the forecast. For instance, an analyst can apply a more/less aggressive fade depending on the nature of the company and the industry they operate in. The analysts have a number of levers they can pull to adjust the forecast if they can make a cogent argument to do so. In the end, what really matters is performance and we have a decade of out performance that provides a proven methodology.
Wiki User
∙ 11y agoAdd your answer:
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What is the science or art of building called?
Cars
Is statistics science or art?
Finance: Art or Science ?Posted by Md.Salim Ansari on Monday, January 18, 2010Lawrence J. Gitmanhas defined finance as 'an art and science of managing money'. It implies that finance is Bothart and science. Finance is a matured science since it provides knowledge as to how and at what time a firm should invest to outstrip other firms.On the other hand, finance is also an art. In modern time, finance has become more analytical. The new financialtheories have been developed. Many data have been developed to prove these theories right or wrong. the financial mangers should examine the differentalternatives related to the raising and managing money. they should formulate the models to predictthe results obtained from the use of any one alternative.In this way, the new theories, models and methods havemade finance scientific. But the financialtheories cannot be accurately compared with the 'Scientific Method' that applies to physicsscience. Physics predicts as to what happens from an action. for example, physics says that if a ball is thrown upward, that eventually falls down. This is not true in finance. For example, the financial analyst can predict from the historical trend that the rate of interest will change in a definite pattern. But, in reality, the rate of interest may change in different pattern. Despite this, financial guidelines and theories are useful in financial decisionmaking. But any decision should be made by mixing those guidelines with self-skill. According to R.A. Stevenson, in modern time finance is a 'scientific art'. He opines 'finance is the science of knowing how to predict financial consequences and the art of knowing when to act'. It assists the financial managers of today to avoid the difficulties of tomorrow.
Behavioral science is regarded both as an art and science explain?
i think its both an art and a science
Why can you say surveying is an art and science?
why you say surveying is an art and science
What does home science subject deal with?
Art and Science
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
Why science is an art?
Science can be considered an art because it involves creativity, problem-solving, and critical thinking to develop new theories or solutions to complex problems. Scientists often have to think outside the box and explore new ideas, much like artists do in their creative process. Both science and art require imagination and innovation.
What is the science or art of building called?
Cars
Is a criminolgy is an art or science?
Criminology is science. What is called, 'Art' is actually good intelligence combined with much training and experience.
What is the art and science of making and interpreting maps called?
cartography
Starting with the letter C what is the science and art of mapmaking called?
Cartography.
Why is management considered a science?
Management is considered as an art due to the resources it own like finance,human resource,Marketing, etc and This is called Science "How you Utilize these resources" As the management of an online wholesaler online,have to maintain all the inventories of all things it offering to the customer its an ART,and how effectively It chooses the suppliers and the deliver the things to the customer is a Science
How is political science both an art and science?
Political science is considered both an art and a science because it combines empirical research methods and data analysis (science) with interpretation, analysis, and judgment of political behavior and institutions (art). It involves the systematic study of political systems, government policies, and political processes using both quantitative and qualitative methodologies.
Is religion an art or science?
It is an art as it can not be a science.
Is statistics science or art?
Finance: Art or Science ?Posted by Md.Salim Ansari on Monday, January 18, 2010Lawrence J. Gitmanhas defined finance as 'an art and science of managing money'. It implies that finance is Bothart and science. Finance is a matured science since it provides knowledge as to how and at what time a firm should invest to outstrip other firms.On the other hand, finance is also an art. In modern time, finance has become more analytical. The new financialtheories have been developed. Many data have been developed to prove these theories right or wrong. the financial mangers should examine the differentalternatives related to the raising and managing money. they should formulate the models to predictthe results obtained from the use of any one alternative.In this way, the new theories, models and methods havemade finance scientific. But the financialtheories cannot be accurately compared with the 'Scientific Method' that applies to physicsscience. Physics predicts as to what happens from an action. for example, physics says that if a ball is thrown upward, that eventually falls down. This is not true in finance. For example, the financial analyst can predict from the historical trend that the rate of interest will change in a definite pattern. But, in reality, the rate of interest may change in different pattern. Despite this, financial guidelines and theories are useful in financial decisionmaking. But any decision should be made by mixing those guidelines with self-skill. According to R.A. Stevenson, in modern time finance is a 'scientific art'. He opines 'finance is the science of knowing how to predict financial consequences and the art of knowing when to act'. It assists the financial managers of today to avoid the difficulties of tomorrow.
Is politicl science is science or art?
Erm...more of an art.
The science of teaching is called?
pedagogy or education The art of teaching is called pedagogy. There is also a pseudo-science called educationism by its critics, which is practiced - if that is the right word for a pseudo-science - by educationists called administrators. The fond notion that what these people do is a science has caused most of the problems in American schools.
