Accounting: Tool of Business or Tool of Society? View Full Text


Ontology type: schema:Chapter     


Chapter Info

DATE

1990

AUTHORS

Derek Bailey

ABSTRACT

The frame of reference adopted for the conduct of the pursuit of intellectual enquiry into accounting is more or less as expressed in Wheeler (1971): three issues … which I believe are of utmost importance to accountants, the future of accounting, and the formulation of accounting theory. First, the relationship between information systems and accounting need to be explored … I take a much more limited view of accounting as a special form of an information system limited to data expressed in monetary terms … Second, the relationship between accounting and our business system needs to be clarified. There is a distinct symbiotic relationship between accounting and business … Accounting, however, is not the handmaiden of business, and it is not the role of accountants to preserve any particular institutions or specific economic system. Accounting is a universal type of information system which is needed in every known form of economic system and by all resource-using people or organisations within those systems…. We need to expand our horizons but not so much in terms of a larger role within the business firm but rather to a larger role within society by giving more attention to our possible service to nonbusiness organisations and to society in general. Third, the relationship between accounting and society needs to be developed. Accounting theory has developed with a theoretical foundation in the theory of the firm and the economic concept of business income…. We have, however, failed to develp a comparable foundation in macro-economics. Accounting needs to expand to provide one vital type of information for all decision-makers in our changing society in order to facilitate the operation of all institutions of that society toward the attainment of the goal of the maximisation of human welfare. Here, the emphasis is on accounting as one type of information system utilised by all segments of society … Progress in the development of accounting theory will be dependent upon the careful definition of the scope and purpose of accounting. (pp. 26–30) More... »

PAGES

193-215

References to SciGraph publications

  • 1979. Economics and Marxism in NONE
  • 1982. Monopoly Capitalism in NONE
  • Book

    TITLE

    Critical Accounts

    ISBN

    978-1-349-09788-3
    978-1-349-09786-9

    Identifiers

    URI

    http://scigraph.springernature.com/pub.10.1007/978-1-349-09786-9_10

    DOI

    http://dx.doi.org/10.1007/978-1-349-09786-9_10

    DIMENSIONS

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