Is Accounting an Art or Science?

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Expert Solution

Accounting is both art and science.

As per American Institute of Certified Public Accountants, accounting is an art of recording, classifying and summarising in a significant manner and in terms of money, transactions and events which are , in part at least, of a financial character, and interpreting the result thereof.

Art is using the skills and technique in any feild. Art is method of doing work in a systematic manner so as to achieve the desired objectives. Art requires some kind of skill and knowledge and practice.

Accounting is thus an art as it uses some skill , knowledge , technique and practice to maintain books of accounts in a systematic manner.

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

Accounting is thus also a science of recording and presenting financial transactions by observing and investigation.Accounting is a science as it follows rules, principles, concepts and standards

To conclude Accounting is both an art and a science.

ekkarill92 answered 1 year ago

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