In pursuit of a foundational accountancy philosophy
Recent accounting history is characterised by many developments, including several high-profile corporate failures, such as Enron, Parmalat and even Saambou, as well as major developments in financial reporting standards, such as the broadbased acceptance of international financial reporting standar...
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| Format: | Article |
| Language: | Afrikaans |
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Scriber Editorial Systems
2008-07-01
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| Series: | Koers : Bulletin for Christian Scholarship |
| Subjects: | |
| Online Access: | https://www.koersjournal.org.za/index.php/koers/article/view/171 |
| _version_ | 1828427703799250944 |
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| author | P. Buys |
| author_facet | P. Buys |
| author_sort | P. Buys |
| collection | DOAJ |
| description | Recent accounting history is characterised by many developments, including several high-profile corporate failures, such as Enron, Parmalat and even Saambou, as well as major developments in financial reporting standards, such as the broadbased acceptance of international financial reporting standards and the convergence efforts between the UK-based International Accounting Standards Board and the US-based Financial Accounting Standards Board. As a result, long-accepted accounting assumptions are being challenged in favour of new principles and practices. Furthermore, in academic circles the scientific foundation of accounting is being questioned. At many universities, limited education is taking place in the underlying theory and philosophy of accounting in favour of teaching prospective accountants how to pass difficult professional exams.
Seen against this backdrop, a reconsideration of the objectives and purpose of accountancy may be overdue. This article attempts to illuminate the intrinsic assumptions and objectives of accountancy, seen in the light of modern-day accounting issues and developments. |
| first_indexed | 2024-12-10T17:06:35Z |
| format | Article |
| id | doaj.art-65a2a396a0bb4a24be19fa12e97c1540 |
| institution | Directory Open Access Journal |
| issn | 0023-270X 2304-8557 |
| language | Afrikaans |
| last_indexed | 2024-12-10T17:06:35Z |
| publishDate | 2008-07-01 |
| publisher | Scriber Editorial Systems |
| record_format | Article |
| series | Koers : Bulletin for Christian Scholarship |
| spelling | doaj.art-65a2a396a0bb4a24be19fa12e97c15402022-12-22T01:40:26ZafrScriber Editorial SystemsKoers : Bulletin for Christian Scholarship0023-270X2304-85572008-07-0173310.4102/koers.v73i3.171In pursuit of a foundational accountancy philosophyP. Buys0School of Accounting Sciences, Potchefstroom Campus, North-West UniversityRecent accounting history is characterised by many developments, including several high-profile corporate failures, such as Enron, Parmalat and even Saambou, as well as major developments in financial reporting standards, such as the broadbased acceptance of international financial reporting standards and the convergence efforts between the UK-based International Accounting Standards Board and the US-based Financial Accounting Standards Board. As a result, long-accepted accounting assumptions are being challenged in favour of new principles and practices. Furthermore, in academic circles the scientific foundation of accounting is being questioned. At many universities, limited education is taking place in the underlying theory and philosophy of accounting in favour of teaching prospective accountants how to pass difficult professional exams. Seen against this backdrop, a reconsideration of the objectives and purpose of accountancy may be overdue. This article attempts to illuminate the intrinsic assumptions and objectives of accountancy, seen in the light of modern-day accounting issues and developments.https://www.koersjournal.org.za/index.php/koers/article/view/171AccountancyAccounting PhilosophyAccounting TheoryFinancial Reporting |
| spellingShingle | P. Buys In pursuit of a foundational accountancy philosophy Koers : Bulletin for Christian Scholarship Accountancy Accounting Philosophy Accounting Theory Financial Reporting |
| title | In pursuit of a foundational accountancy philosophy |
| title_full | In pursuit of a foundational accountancy philosophy |
| title_fullStr | In pursuit of a foundational accountancy philosophy |
| title_full_unstemmed | In pursuit of a foundational accountancy philosophy |
| title_short | In pursuit of a foundational accountancy philosophy |
| title_sort | in pursuit of a foundational accountancy philosophy |
| topic | Accountancy Accounting Philosophy Accounting Theory Financial Reporting |
| url | https://www.koersjournal.org.za/index.php/koers/article/view/171 |
| work_keys_str_mv | AT pbuys inpursuitofafoundationalaccountancyphilosophy |