J.L.E(04/04/21)
Accountancy: Science or Non Science
Science is defined as an organized body of Knowledge that deals with truth meaning it
should be verifiable and based on facts, Principles because they have guide or rules in observing
or evaluating something to reason out, and physical laws, science not just explaining something
but also describe it and when you’re describing something meaning you can use your 5 senses for
you to be able to describe it. Science can explain natural phenomena since science is the
knowledge of truth which you can have it by observation and experiment through observing and
experiment you can explain something.
Accountancy is considered as science since it is a body of knowledge were you are
required to explain and forecast about the financial status of a business you should also present
an evidence as proof that it is true or based on facts. Accountancy has also principles or guide to
properly present an evidence and to make sure that you explain and forecast the financial status
of a business correctly. Like science accountancy also observe and experiment. Through
observing the facts presented which is the basis to know the present and future financial status of
a business. Accounting also uses experimenting to grow or make things more accurate when
explaining the financial status of a business and make things easier it is like upgrading the rules
and principles and other things to technological advancement of our world and also to minimize
the errors in making the financial statement of the business.
In accounting there is called a natural laws of accounting as a science. Haziran 2007
stated four natural laws of accounting as a science one of it is law of accuracy which he said that
“measure and scale must be complete and accurate” one of the best example of it is the
machinery and equipment. In accounting we didn’t just record it when we bought it but also
record it when it is worn-out and damaged we are doing it to make our financial statement
accurate and complete, when we didn’t adjust it, our asset will become overstated and our
expense will understated.
Accountancy help the community in terms of awareness when it comes to spending their
money. Money is not just spending it or consuming it. We have money to spend it but not in a
way that even you didn’t need something you will buy it since you have money. Accounting is
there to open our mind in budgeting our money on how to properly use money. We worked for it
we so we should know how to use it. Accounting help not only the community, of course when
you help community you also helping our country. In business we are aware of taxes. Through
taxes we are helping our own country. I guess trading is under accounting also when you transact
to other country you’re not just helping your own country but also the other country through
buying and selling to them.