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It's 2020: What is Accounting Today?

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  • Garry Carnegie
  • Lee Parker
  • Eva Tsahuridu

Abstract

Based on the acceptance of the importance of clear definitions and concepts, we explore conventional definitions of accounting and chart their change and development. While accounting's definitions have evolved, they do not, in our view, adequately reflect accounting as social and moral practice but rather continue to position accounting as a technical practice, despite the valuable work of key accounting scholars particularly over the last four decades. We highlight the social and moral aspects of accounting and propose a new definition of accounting for the 2020s to stimulate discussion, debate and improvement. In our opinion, accounting has a way to go to reach its true potential.

Suggested Citation

  • Garry Carnegie & Lee Parker & Eva Tsahuridu, 2021. "It's 2020: What is Accounting Today?," Australian Accounting Review, CPA Australia, vol. 31(1), pages 65-73, March.
    • Handle: RePEc:bla:ausact:v:31:y:2021:i:1:p:65-73
    DOI: 10.1111/auar.12325
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    References listed on IDEAS

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    3. MacAulay, K. Doreen & Marley, Robert & Mellon, Mark J. & Shortridge, Rebecca, 2023. "Emily’s Dilemma: An examination of tactics used to protect and surrender market share," Journal of Accounting Education, Elsevier, vol. 62(C).
    4. Mardini, Ghassan H. & Mah'd, Osama A., 2022. "Distance learning as emergency remote teaching vs. traditional learning for accounting students during the COVID-19 pandemic: Cross-country evidence," Journal of Accounting Education, Elsevier, vol. 61(C).
    5. Roger L. Burritt & Stefan Schaltegger & Katherine Leanne Christ, 2023. "Environmental Management Accounting – Developments Over the Last 20 years from a Framework Perspective," Australian Accounting Review, CPA Australia, vol. 33(4), pages 336-351, December.
    6. Spanò, Rosanna & Grossi, Giuseppe & Landi, Giovanni Catello, 2022. "Academic entrepreneurial hybrids: Accounting and accountability in the case of MegaRide," The British Accounting Review, Elsevier, vol. 54(5).
    7. Imperiale, Francesca & Pizzi, Simone & Lippolis, Stella, 2023. "Sustainability reporting and ESG performance in the utilities sector," Utilities Policy, Elsevier, vol. 80(C).
    8. Zahid Ali & Ghulam Mustafa, 2023. "On Accounting Firms Serving Small and Medium‐Sized Enterprises: A Review, Synthesis and Research Agenda," Australian Accounting Review, CPA Australia, vol. 33(3), pages 313-332, September.
    9. Dominic Cyr & Suzanne Landry & Anne Fortin, 2023. "Financial Disclosure Management by Charitable Organisations: A Conceptual and Operational Framework," Australian Accounting Review, CPA Australia, vol. 33(1), pages 46-65, March.
    10. Berenike Wiener, 2021. "The Framing of Sustainable Finance in Charitable Foundations—Findings from a Qualitative Study," Sustainability, MDPI, vol. 13(18), pages 1-15, September.
    11. Michael Bradbury & Bryan Howieson, 2021. "Editorial: Virtual Issue and Call for Special Issue on IFRS 9 Financial Instruments," Australian Accounting Review, CPA Australia, vol. 31(1), pages 3-4, March.
    12. Luigi Rombi, 2024. "Handbook of accounting, accountability and governance edited by Garry D. Carnegie and Christopher J. Napier," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(3), pages 943-955, September.

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