Got a tricky question? Receive an answer from students like you! Try us!

Ddbates concerning knowledge are not relevant to accounting and its practice - Essay Example

Only on StudentShare
Masters
Essay
Finance & Accounting
Pages 6 (1506 words)

Summary

DEBATES CONCERNING KNOWLEDGE ARE NOT RELEVANT TO ACCOUNTING AND ITS PRACTICE BY NAME: CLASS: PRESENTED TO: DATE: Debates Concerning Knowledge are not Relevant to Accounting and its Practice Introduction Discussions about what constitutes knowledge have been ongoing for a long time, and were extensively covered by some of great philosophers like Plato, Humes, Kant and Socrates…

Extract of sample
Ddbates concerning knowledge are not relevant to accounting and its practice

As such, knowledge has its limits; some synthesis of object matter is needed through reasoning to create understanding. To objectively generate new knowledge various sources of knowledge exists that include; induction, intuition, observation, experience, testimony, and introspection among others. Plato cautions that those seeking to understand knowledge must distinguish it from opinion. For example, accounting statements have to be viewed objectively other than subjectively in creating reality and true knowledge. In my view, knowledge is fixed, absolute, and eternally true while opinions are changeable. Therefore, for one to be a true knowledge seeker, then they must naturally not consent to opinions, but have to strive with unwavering passion to establish the essential nature of things that constitute facts. However, it is not certain that accounting operations can lead to such knowledge or truth, making knowledge not an essential consideration in accounting profession. ...
Download paper
Not exactly what you need?

Related Essays

Integration of ERP Systems in Accounting Practice
ERP software incorporates various enterprise software modules that an organization may decide to purchase, depending on its technical capabilities and business needs. Particular ERP modules focus on specific areas of business processes, such as marketing or development. Among the popular ERP include those that tackle material purchasing, product planning, accounting, distribution, human resource, distribution, inventory control, marketing, and finance. The consistent growth of the popularity of the ERP methodology, businesses, and organizations are increasingly adopting the use of ERP for…
10 pages (2510 words)
Understand & explain the Accounting Equation and its components
Understand & explain the Accounting Equation and its components …
3 pages (753 words)
Advanced Accounting Theory & Practice
By providing the basic structure for each type of financial statements, the standard has become highly essential for lenders, investors, shareholders and regulatory authorities. For that objective, the standard has classified different economic units as assets, equity, liabilities, income, expenses and cash flows. This classification is used to prepare and present different types of financial statements such as statement of financial position, statement of comprehensive income, statement of changes in equity and statement of cash flows. The IAS 1 provides different qualitative characteristics…
10 pages (2510 words)
Advanced Accounting Theory & Practice
Since then, more and more countries are adopting IFRS.1 IASB sets down accounting standards for the accounting policies that a company under IFRS must follow. These accounting standards are in accordance with the requirements of Conceptual Framework which assist users of financial statements to take various financial decisions. IASB are in continuous effort to improve the accounting standards in order to prevent creative accounting practices by companies and help representing the true and fair view about the financial conditions and performance of the companies. IAS 1 which sets out guidelines…
8 pages (2008 words)
The Relevant International Accounting Standard (IASB)
Contingent assets and contingent liabilities are not recognized but disclosed in the financial statement of the company. The main focus and objective of the standard is that the entity recognizes provision in its balance sheet with is the best estimate of the expenditure to settle an obligation at the end of its financial year. This estimate is the amount of cash outflow that the entity is likely to pay in the future. IAS 37 requires the corporation to take into consideration the following essentials when recording provisions in its financial statements, Take all the future and probable risks…
9 pages (2259 words)
accounting
Uniformity will allow for comparisons in the industry as a whole and that will ensure that the best performing entities are noted. The other advantage of uniform accounting is the fact that it will be easier for the relevant authorities to check the books of accounts when it is required. That will reduce any instances of tax evasion or any other crimes that are associated with manipulation of financial records. The inventory accounting method that I would recommend is the use of the average method. The average method is fairer in the setting of the price on the side of the seller and the…
3 pages (753 words)
Adv. Accounting Theory & Practice
It is obvious that corporate social responsibility is a part which is very important for running the businesses successfully. But following the predefined the environmental policies compels businesses to behave in a certain a way, for example using high quality raw material, and atmosphere friendly plants. It brings cost to the business which is certainly not favorable for businesses. So, businesses have started deceiving the regulatory institutions and other stakeholders. They have found their ways in fulfilling the requirements of the regulatory bodies. There are loop holes in the system…
4 pages (1004 words)