Question

What do you think? Is accounting discipline a science or an art? Why? Support your opinion with references/sources and or experience. ?

Answer 1

Accounting discipline is classified as an art and also a science.

Science is a systematized body of knowledge. It establishes a relationship of cause and effect in the various related phenomenon. It is also based on some fundamental principles. Accounting has its own principles e.g. the double entry system, which explains that every transaction has two fold aspects i.e. debit and credit. It also lays down rules of journalizing. So we can say that accounting is a science.

Art requires a perfect knowledge, interest and experience to do a work efficiently. Art also teaches us how to do a work in the best possible way by making the best use of the available resources. Accounting is an art as it also requires knowledge, interest and experience to maintain the books of accounts in a systematic manner. Everybody cannot become a good accountant.

It can be concluded from the above discussion that accounting is an art as well as a science.