In this course, Accounting 212, we have learned many new subjects and discovered a vast
variety of concepts, formulas, and ideas that can be applied in the business and finance world in
which we will use our degrees. While studying at Liberty, there has been the opportunity to
incorporate Biblical ideas, scriptures, and contexts into each assignment and project we have
been given. While accounting, numbers, and formulas are pretty straightforward, the opportunity
to incorporate Biblical concepts hasn’t presented itself too often during this course. Our group
has put together a few primary topics that are discussed and highlighted throughout the Bible
where accounting principles are shown.
Most businesses today depend on some financial accounting system that utilizes financial
statements and reports to run their business. Business must rely on individuals, usually
accountants or Certified Public Accountants (CPA) to work in the accounting department. The
individuals must have integrity, be good stewards of the company’s money and be trustworthy.
Even in the Old Testament people who dealt with money and accounting were faithful. 2 Kings
22:7 states “However there need be no accounting made with them of the money delivered into
their hand because they deal faithfully.” [The82].
“In order to achieve success, we must and can build up our self-discipline, integrity,
character and strength”[Dan14]. When dealing with finances for a company or an individual one
must understand what it means to be a good steward and how to protect against waste, fraud, and
abuse of our money or others money that God has entrusted to each of us whether it is personal
business finances.
One can use accounting not only for companies to keep track of profit, loss, expenditures,
invoicing, etc., but one can use accounting in their daily life. Dave Ramsey is a very well-known
author who speaks about financial freedom. To be successful and achieve financial freedom
Dave Ramsey says “If you live like no one else, later you can live like no one else.” Businesses
and individuals alike must be held accountable and also have to hold oneself accountable to be a
responsible keeper of the money, finances, or budget in which you are in charge.
Among the many parallels that can be drawn between the Bible and financial accounting,
the similarities of internal control and Christianity are enlightening. Christianity speaks a lot
about trust regarding family, friends, and neighbors. Trust is one of the core beliefs taught by
Jesus as well as one of the core values that are essential to have as a manager when managing
ones’ department. Micah 7 addresses the issue of trust. It describes how many times people are
afraid to trust others and want everything under their direct control. The trouble is being able to
micromanage every detail of a team in the workplace is not often a realistic goal; this is why trust
as a manager is essential.
There are many instances in the workplace where project managers believe they need to
manage every little detail in order to have proper internal control. This is not true, according to,
the Governments Finance Officers Association; it is not wise for a manager to micromanage
when attempting to gain internal control. It can be viewed as almost a paradox. To gain internal
control; one must give up control and trust their counterparts to do their jobs effectively and
efficiently. Ultimately, just as Jesus trusts us to make the right decisions and is there even
when we don’t, employees must be trusted and supported by their seniors in order to gain
internal control.
As we endeavor to demonstrate the connection between the Bible and the topics of our
text, we should first define the topics. According to our text, “The purpose of managerial
accounting is to provide useful information to aid in three key managerial tasks: determining the
cost of an organization’s products and services, planning future activities and comparing actual
results to planned results.” (Wild, Shaw, 2018) In our search for the biblical connection to
managerial accounting topics, we are able to find a few different perspectives. For example, in
his 1980 article, Robert Hageman explains how the Bible speaks more to managerial topics
versus managerial accounting specifically (Hageman, 1980). He specifically mentions two
passages, Luke 14:28-29 and Proverbs 15:22.
In Luke, we find the following instruction, “28 “Suppose one of you wants to build a
tower. Won’t you first sit down and estimate the cost to see if you have enough money to
complete it? 29 For if you lay, the foundation and are not able to finish it, everyone who sees it
will ridicule you.” (NIV) If we look back to our text definition, this passage speaks specifically
to the managerial task of determining the cost for a particular project. In Proverbs, “22 Plans fail
for lack of counsel, but with many advisers, they succeed.” (NIV) This passage also seems to
point to one of the three tasks managerial accounting should address, planning future activities.
While the Bible does not explicitly call these or other passages by the names, we would call
them now, as Hageman agrees in his conclusion, “…much of today’s accounting thought can be
traced back to Biblical times” (Hageman, 1980).
Accounting principles and the Bible can be dated back to the very beginning. It is noted
through various scriptures such as in Exodus when the Lord spoke to Moses and told him to take
a census of Israel, which Moses could be considered an accountant. Also in 2 Samuel when
David was told to take a census, also an example of accounting in the Bible. It is easy to
overlook examples such as these when studying the Bible because we are often looking for other
items or topics of study even such as a different type of accounting, such as accountability.
Whatever the reason may be that leads us to study the Word of God; a valuable lesson can always
be learned. His word is alive and powerful and full of valuable wisdom.
References:
GFOA. (2008, October 01). Internal Control and Management Involvement. Retrieved
September 29, 2017, from http://www.gfoa.org/internal-control-and-
management-
involvement
Hagerman, R. (1980). ACCOUNTING IN THE BIBLE. The Accounting Historians Journal,
7(2), 71-76. Retrieved from http://www.jstor.org/stable/40697656
Lapin, D. (2014). Business secrets from the bible:. Spiritual success strategies for financial
abundance, 1.
Ramsey, D. (2013). The Total Mondy Makeover. Thomas Nelson.
Holy Bible: New International Version. (2005). Grand Rapids, MI: Zondervan.
