Professionalism vs. creativity in accounting
11-12/2005 , p144..146
Author(s):
Mirela NICHITA
Keywords:
roles of accounting, scorekeeping, financial accounting
Abstract:
Does accounting add value to organizations or is it simply a necessary evil which one day will be replaced by a single all-embracing software package? Accounting was originally developed to support the need for stewardship at a local level and tax assessment at national one. The principal focus of what we call financial accounting was to account for assets entrusted by the owner to an agent who would use them to generate a profit for the owner. The principal roles of accounting are: scorekeeping, attention-directing and problem-solving; adding value to business rather that merely keeping the score.
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