Question

Accounting is an art as well as science.comment​

Answer 1

Answer:

ACCOUNTING  IS  AN  ART AS  WELL AS SCIENCE

Explanation:

Accounting can be considered an art because it requires creative judgment and skills. In order to perform accounting functions well, discipline and training is required.

Accounting can also be considered a science because it is a body of knowledge, but since the rules and principles are constantly changing and improving, it is not considered an exact science.

Accounting is art as well as science which systematical process that identifies, records, classifies and communicates the economic facts and figures of an organization.

Accounting is the science of recording and presenting the financial data of an economic entity by observing, detecting, investigating, and identifying the economic events via established collecting, testing, analyzing and presenting methods.

Accounting; like science follows a systematic and organized path to understanding the economic status of the entity.

Science is obtaining knowledge about a systematic pattern including observation, study, practice, experiments, and investigation.

Like Science; Accounting requires gaining knowledge about the economic status of an entity by systematic study.

For a scientist; to reach an acceptable conclusive result on a particular matter or topic requires identifying recording, measuring, researching it.

An accountant finalizes the economic results by identifying, analyzing, classifying using the method of the double-entry bookkeeping accounting system.

So, Accounting is a science that includes comprises of rules, principles, concepts, conventions, and standards in science.

Accounting is an art

The term “Art” means a diverse range of human activities and study of these activities but most often misused or misunderstood to refer to painting, film, photography, sculpture, and other visual media.

Art is using the skills or techniques of any field.

We can say that art is the study of the implementation of techniques and methods. Accounting is an art because it presents the financial findings by following and implementing a universally accepted method (GAAP).

Art is the study of implying scientific method to practical use. And Accounting is an art as the established rules and principles of accounting is applied in the bookkeeping process of an economic entity.