in your opinion, should accounting be considered as an art or a science?
541045
If you have one set of books, a science, probably a sub set of mathematics.\nIf you have two sets of books, an art, a sub set of tax evasion.\n\n;-D
87029
By nature, accounting is based on historical information.  I'd say the biggest problem with relying on any accounting information is that it gives you only what has happened, but doesn't take into account any non-quantifiable or forward looking factors in your business environment.
95490
Cuz art s just creative but science is also useful in everyday life..
12399
An accountant is someone who records numbers and knows the rules regarding how those numbers need to be recorded it.  Accountants are not necessarily investment gurus.  Plus accounts who work usually only earn a fixed salary unlike someone who is a sales person earning a commission.  If you are working for a commission your income is not fixed and you have the potential for much higher income.\nAlso, accountants don't make that much money.\nI know because I am an accountant. The money is decent but not great.
461792
Far too complex a subject to be dealt with here.  Some folks devote their careers to it. It requires a good understanding of both accounting theory and income taxes.\n\nEssentially, deferred tax represents the anticipated tax consequences of timing differences between financial accounting and income tax accounting.
591410
Well financial accounting is more to do with the reporting requirements which rely on many accounting conventions like accrual concept, matching concept..etc..\n\nWhereas cost accounting is used more often to arrive at a product cost or cost of an activity, or a service,\n\nFin Acc is more broad based in the sense that it used for arriving at the profit/loss of a given period which would consider the financial performance of the organization.\n\nBut not cost accounting..which is Keeping account of the costs of items in production
292704
depends on your accounting standards.  If the gain is unrealized and you keep your books on a cost basis -- you don't account for it.  The only time that you would account for it would be if you were going to sell your business and you wanted to illustrate a pro-forma Balance Sheet based on market price/value of your assets.  If you were doing that then you would increase the value of your assets and your capital accounts.
487679
It can be both. If you do a Bachelor of Management Science, there will be many more econometric and statistical elements to it. If you do a Bachelor of Arts in Management or a Bachelor of Management it's actually considered to be more of a Commercial discipline than an Artistic one. In it's simplest form where more emphasis is placed on case studies and the practical application of theories rather than the physical derision of those theories or study of where those theories are derived from, it would be considered less of a Science.
666351
While both are fairly equal in those traits, database would probably be less boring.  On the otherhand, a good accounting background is very helpful in any programming or database job
252937
Yes.  Science is a belief that there are cause and effects that can be studied in a certain way, such that we may learn the underlying ways in which the physical universe operates.  It does have its limitations, however, and has limited applications in the really important areas of spiritual growth and awareness.  It is also limited in the fact that it requires and observer, and the observer influences the scientific findings, invariably.
1069726
Usually art requires an intention to express oneself creatively. If you trip over a pile of sticks and they land in an artistic way, that's not art, but if you arrange them in an a way that you mean to express yourself creatively, that would be considered art.\n\nPeople write whole books about this topic, and courts grapple with it (when deciding if something is art for tax and duty purposes for example), so don't feel like it's an easy question to answer.
1008595
Finance and accounting are excellent majors...my boss has advised me that if I'm thinking of going back to school, anything that deals with finances is a good degree as after the Enron scandal, etc., companies now place a great degree of value on their financial records and dealings.
258765
Accounting is a boring job.\n\nHowever, spending the large amounts of money that you make as an accountant is very enjoyable.
256792
Transactional accounting is about recording the financial events of the business according to acceptable practices.  The accuracy of those records is important, even critical.  However, they aren't the managerial tool the organization needs or wants.  The purely financial representation and analysis of business results doesn't tell the full story.  While marketing is an "expense" under financial accounting treatment, managerially it is an investment.  There are other such examples of scorekeeping versus results measurement.\n\n\nBusinesses need both scorekeeping and results.  Businesses get results from gaining a managerial understanding and perspective on the numeric representation of the business.  Businesses also must recognize information beyond the numbers.  There are events, factors, and decisions that aren't captured real-time by the financial results.  The organization which has the capability to address the non-financial aspects of the business in the context of their ultimate impact on financial performance is the one that will be able to generate significant financial results.\n \n\nEvery activity in the organization ultimately generates cash, uses cash, or both. The results are either direct or indirect from each activity.  For instance, manufacturing a product is a direct use of cash for raw materials, purchased parts, and labor. The ordering of the raw materials and purchased parts is not directly related to the conversion into a finished good - but is a necessary activity to the organization.  The purchasing and manufacturing processes both play a role in producing a product for sale.  Both use cash.  Both ultimately contribute to generating cash.  Either process executed poorly impacts the sales process and the bottom-line.\n\n \n\nThis becomes the question:  what is the measure of results for each group?  How is purchasing performance measured?  What metrics does manufacturing have to meet?  How are sales people evaluated?\n\n \n\nNumbers should be incentives to perform and a means of identifying results.  The results measured must be meaningful to the business and to the performer.  When members of the organization view accounting measures as an obstacle and not as a tool for achieving results, setting priorities, and measuring performance, then it is time to reevaluate how the numbers are being used and determine how to generate relevant metrics which drive the organization forward.  Relevant metrics are necessary; merely keeping score doesn't benefit the organization.
222705
In deciphering your question I suspect you are inquiring about what is  the best field of study or profession to master in the new emerging global economy of our world.\n\nFirst, the pursuit and study of science has and will continue in our new global economy till the end of the planet or the end of our human species.  There is still much scientific work being pursued for that end, and not because a discovery will make money, fame, or even a lucrative future for an individual.  However, historically many great inventions we enjoy in our modern society were accidentally discovered while someone was actually looking for something else.\n\nFinance and accounts actually is concept based around the exchange of currencies for "things" or even other currencies.  It is the tasks of  professions managing these kind of issues that make for careers.  Unfortunately much of the aspect of trade and finance is mitigated by unreasonable human emotions and and beliefs, not facts that can be practiced.   Some such human conditions that affect accounts and finance that are unpredictable are: religious beliefs, race, politics, and ethnic discrimination, and lack of basic education.\n\nMy suggestion is to find a subject or idea that you are passionate about and develope that passion into an interst and an expertise.   Seek and explore what you enjoy or find interest and diversify that exploration.   \n\nIt is a fact that many people that make lots of money hate their jobs and professions.  Finding a profession that seems more like play is the ultimate job...few have found this but finding a career path that excites you and that you have a passion for   is a goal worth persuing.  This may even  mean that you educate yourself for one thing then end up doing something completely different.
799045
Accounting is like technology in a way. Any job where you hope to be a manager will require you to be a bookkeeper and/or an accountant, and like technology, it all helps you move up the chain faster at any company. Even the online director at a company has to be an accountant. Entrepreneurs have to be accountants and techies to get investors.
1034639
Science is a good discipline in teaching people how to think.  It matters very little what you study.  All subjects within science are based on the scientific method that is structured and logical.  Having that foundation will allow you to methodically solve any problems you may encounter in life, whether the problem originated in finance, business, science, philosophy, etc.