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Accounting is a subject area that works under rules and regulations, right from wrong, balanced vs. unbalanced. The recording of such numbers under this system is to do so in an accurate and universal way, such that it is easily understood and can be easily compared with other company's data. The goal at the end of the period is to have the information necessary to make strategic decisions, whether they be Finance, Marketing, Operations or Marketing related.
Because Accounting is such a linear way of thinking, it leaves out other pertinent information that does play a role in maximizing profit, at least eventually. Psychology is a field that has been borrowed by the Human Resource/Organizational Department in Business schools. Reason being, everything can't be answered by numbers. Human behavior is critical to analyzing any computational information. Psychology, is thus, the "other" field in Business that answers all "other" questions.
So, is Psychology important in Accounting? Not in it's literal sense. Accounting will do what it's purposed to do: account for profits and losses. As such, other disciplines will evaluate this information to make managerial decisions. Psychology will also do what it's purposed to do: understand human behavior in the business world - whether we're talking about company employees or consumers. Other disciplines will evaluate this information to make managerial decisions.
Both fields, in my opinion are the most critical and important ones in the Business world. It's what fundamentally created the other disciplines, by their inherent purposes.
In sum, Psychology and Accounting are equally important in Business, each from diametically opposed viewpoints, but ultimately, with the right managers, can be used in a positive way to achieve company goals and longevity.
What else can I help you with?
What unique or important contribution did Eric erikson make to the study of psychology?
What unique or important contribution did eric erikson make to the study of psychology?
Relationship between psychology and history?
psychology is the science of mind and history is the study of mans action in the past.history and psychology are closely related to each other.to study the motive behind each human actions study of psychology is important
Why is scientific methodology important in psychology?
Psychology is a science (technically). Scientific method allows us to find truths. OK, there is the applied aspect of psychology (e.g., some types of clinical psychology) in which the scientific method is stressed much less.
What is the importance of studying social psychology?
social psychology is an important area of study in that it tackles on how individuals are either consciously or unconsciously influenced to act in a desired manner.
Importance of pseudo-psychology to the study of psychology?
Pseudo-psychology is an important term to learn for the psychology student as well as the general public. Pseudo-psychology pertains to such things as advertisements that make untestable claims as to make their product seem more efficient than it actually is. While it may do no physical or psychological harm most times, people unknowningly give money to these businesses because of claims made in their ads. It is important for the student to realize that pseudo-psychology is out there, and can give psychology a bad name. Eventually the general public figures out that whatever claim a business made using pseudo-psychology is false, and then starts to think that psychology itself is untrustworthy. Psychologists need to be careful in their experiments and report data that is truthful, or this will only add to public beliefs that psychology is not a real science.
What is the role of psychology in management accounting?
3
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What is the Important of statistics to Accounting?
3 important activities in accounting process?
real accounting, nominal accounting,personal accounting
List top 10 earning careers in South Africa for people who hate accounting?
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What is accounting theory and why is it important for accounting student to accounting theory?
Accounting theory is the collection of methodologies used in the study and application of the different financial principles. It is important for an accounting student to know it because it is the basis for all future accounting studies.
Why is the study of accounting important?
it is important because accounting allow us to monitor the profit of the business
What is the important of public sector accounting?
Explain why it's important to study public sector accounting.
What has the author George E Shute written?
George E. Shute has written: 'Accounting students and abstract reasoning' -- subject(s): Accounting, Reasoning (Psychology), Study and teaching
What is important in accounting?
gowno
What are the branches of psychology which are important in the field of education?
The important pure branches are: a. General psychology: This branch deals with the fundamental rules, principles and theories of psychology in relation to the study of behaviour of ... How has the field of educational psychology evolved?
Why is trigonometry important in accounting?
Trigonometry is not important ever
What are the most important accounting principles?
There are many accounting principles and many are very important in their own way. The top three most important principles are: Economic Accounting Principle, Monetary Unit Assumption, and Time Period Assumption.
