Is Accounting an Art or Science?

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 2 years ago

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