Is Accounting and Art or Science -Response

At a first glance I would have answered that accounting to be consider science. After research I was surprised to find out that to be different. Accounting is an Art form according to its definition in The American Institute of Certified Public Accountants (AICPA). Which defines accounting as “the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least of financial character, and interpreting the result thereof.”

The reason accounting is considered an art because it requires the use of skills and creative judgment. One has to be trained in this discipline to be able to perform accounting functions well. Accounting is considered a science because it is a body of knowledge. However, accounting is not an exact science since the rules and principles are constantly changing or improving.

I believe accounting as an art is an important discipline to learn in business because accounting is known as the language of business. You are keeping the financial record of the business. You are also recording, summarizing.  I believe you also benefit from learning financial accounting as an individual because you will be able to budget, keep records of your savings and expenses. You may also further understand how to invest for yourself.

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