Blogs post

Accounting’s Future: The Emerging Role

Accounting evolved alongside humans. Conservatism is the fundamental principle that shaped the concepts of accounting. It is clear to see why accounting style is inversely related to time. Accounting styles have changed over time as man evolved from a primitive age that relied on hunting and gathering to become an interdependent modern age. The abacus has helped to develop self-accounting. It has evolved into managerial accounting and financial accounting. These accounting focuses more on decision-making, read here.

The Financial Accounting Standards Board in the USA (FASB), an organization that has internationally standardised the Generally Accepted Accounting Principles in Accounting (GAAP), made significant strides in 2012 to merge with the International Accounting Standards Board in a process known “International Convergence.” This convergence is required to standardize corporate/company reporting globally.

Future prospects for the Accounting Profession are uncertain. The future age may see scientific progress and human greatness. Future generations may also see Spiritualism and Environmentalism. This paper will examine whether Accounting, as an academic discipline, could provide better solutions to financial problems. Accounting is a valuable asset because it allows man to accurately value natural resources. This contrasts with the industrial era, where man was treated as labour and not as valuable as his machines.

This paper was conceptually and relationshipally approached from a content analytics perspective. Content analysis is “a method that allows for the objective, systematic or quantitative description (or content of) communications manifest content.” (Berelson, 52). Concept analysis focused on the existence of the problem. The concept analysis looked at whether or not there was actually a problem. Relational analysis however examined the relationships between concepts. It is possible to write this paper, as with other types.

Leave a Reply