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Accounting – Profession vs. Science

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  • Kovács, Zsuzsanna Ilona
  • Deák, István

Abstract

Defining accounting as a scientific field has been a matter of controversy. This paper is intended to describe the scientific grounds of accounting by way of analysing the International Financial Reporting Standards system. We compare T. S. Kuhn’s theory of scientific philosophy with the regulations and evolution of the selected reporting system. We conclude that the elements of the disciplinary matrix of accounting are prescribed by the Framework and by the specific problem-solving methods associated with the standards. Over the last few decades, the economy has been subject to fundamental changes that have tested the resilience of any accounting system. These challenges to the paradigm have launched a series of shifts in the field of international accounting, which correspond to the steps of scientific revolutions described by Kuhn. At present, standard setters are focused on renewing the reporting paradigm and formulating globally relevant standards.

Suggested Citation

  • Kovács, Zsuzsanna Ilona & Deák, István, 2012. "Accounting – Profession vs. Science," Public Finance Quarterly, Corvinus University of Budapest, vol. 57(4), pages 426-436.
    • Handle: RePEc:pfq:journl:v:57:y:2012:i:4:p:426-436
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    File URL: https://unipub.lib.uni-corvinus.hu/8970/
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    References listed on IDEAS

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    1. Shortridge, Rebecca Toppe & Smith, Pamela A., 2009. "Understanding the changes in accounting thought," Research in Accounting Regulation, Elsevier, vol. 21(1), pages 11-18.
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    More about this item

    Keywords

    international financial reporting; disciplinary matrix; scientific revolutions;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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