As accountant student no matter whether you are in school or college at one point or learning accounting have faced a common question “Is accounting is an art or science?” opinion on the subject differs from one to another. Students with accounting assignment help get confused during such a situation where some believe that accounting is an art while others think differently and says it is a science. Now, the actual question is there any evidence or characteristics to support these diverse opinions? Let’s go into the details to find out the answer.
Accounting as an Art
The actual meaning of art is misunderstood or misused by many. Most of the people refer, it as a photography, painting, sculpture and filming but the actual meaning is far from this. Art is the study of skills, implementation of techniques and methods in any field. Now, back to the point, how accounting is an art? We could say accounting is an art because it represents the financial data by following specific techniques and the university accepted method.
As you read above art is the study of skills and implementation of methods and techniques and accounting is all about principles and established rules. The nature of accounting requires creativity judgement and skills.
The thought about accounting differs from one accountant to another. The methods, rules and theories of accounting can be underlined as scientific.
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Accounting as a Science
Accounting could be considered as a science because it follows a systematic and organized path to record and represent financial data of an economic entity. Accounting can be considered as a science as it closely observes, investigates, and detects all the data by following the analysed scientific method.
All the economic results are finalised by accounts after they identify, analyse and classify the financial data using the techniques and methods of double entry bookkeeping accounting.
As per the scientists “science refers to the systematic body of knowledge based on the certain hand proofed rules and principles”. But you cannot certainly consider accounting as a science, why? Because the rules and principles of accounting change and improve constantly. So, it is not an exact science.
Accounting a Dynamic and Applied Subject
Accounting is a dynamic subject and after the long complicated research and practices, it has reached the present stage. Now it is known as the subject of professionals. Accounting is used in various organizations in the various situation. Just like any other subject, it is based on the certain concept, rules, theories and principles. To this exact accounting is both art and science in term of recording, classifying, and summarising in terms of money, events and transactions.
Characteristics of accounting are not limited to only science and arts. The concept of accounting is so vast in itself and so its characteristics.
Accounting as a Social Science
Sound new to your ears? It true you can consider accounting as the social science because just like social science, the task of accounting is to keep track of all economic particularly financial activities of all social being in a systematic manner. Today, the scope of accounting is not limited to the large scale companies but also comprises to all types of economic activities that take place in social and individual organizations. It also got seminaries from various social science subjects like psychology, computer, economics, management, etc.
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