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Faith Essay: Biblical Concepts in Accounting & Finance
Brandi Anderson
Liberty University
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Biblical Concepts in Accounting & Finance
According to Hicks (2017) accounting is the foundation for all of business (p.1).
However, the Bible is the foundation for one’s life and this includes accounting and finance.
There are numerous scriptures in the Bible that pertain to accounting and finance. Deuteronomy
25: 13-16 “Do not have two different weights in your bag-one heavy, one light. Do not have two
different measures in your house- one large, one small. You must have accurate and honest
weights and measures, so that you may live long in the land the Lord your God is giving you. For
the Lord detests anyone who does these things, anyone who deals dishonestly” (NIV). God
expects Christians to have honest weights and measures where our finances and accounting are
concerned.
Inventory and profit are also referenced in the Bible as well. Ezra 1:9-10 Mithredath the
treasurer counted out every piece and had a total of 5,400 articles of gold and silver (NIV).
Keeping an accurate count of what belongs to a business or organization is crucial in any
business accounting. According to Grudem (2003) in Luke 19 Jesus tells of the parable of the
ten servants who took their minas they were given and made a profit and were rewarded for
doing so (p. 42). God wants His people to use their gifts to make a profit, and with that profit one
is expected to give in return. Deuteronomy 26:12 states that we are to give up one third of our
earnings on a three year cycle to the widow and the fatherless. This could not have been
accomplished without some kind of accounting system. Christians are to be good stewards over
what God has given us, giving back to God what is His in the form of tithe and offerings.
Investments are a part of finance and accounting as well. Ecclesiastes 11:1-6 “ship your
grain across the sea; after many days you may receive a return. Invest in seven ventures, yes, in
eight; you do not know what disaster may come upon the land… whoever watches the wind will
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not plant; whoever looks at the clouds will not reap...sow your seeds in the morning, and at
evening let your hands no be idle, for you do not know which will succeed, whether this or that,
or whether both will do equally well” (NIV). This speaks of investing in many ventures and the
possible risks and uncertainties that go with those ventures, but also about trusting in the Lord
and gaining knowledge and guidance before making decisions.
Budgeting is another accounting concept found within the Bible. Hagerman (1980)
believed that the Bible “recognizes the importance of budgeting and the behavioral implications
of participation in that process” (p. 75). Luke 14:28-30 “Suppose on 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? For if you lay the foundation and are not able to finish it, everyone who sees it will
ridicule you, saying, ‘this person began to build and wasn’t able to finish’” (NIV). “An important
element in business planning is the budgeting process” according to Hagerman (1980, p. 75).
Additionally, the Bible states that “The rich rule over the poor, and the borrower is a slave to the
lender” (Proverbs 22:7 NIV). Meaning that if one does not sit and budget our finances and
understand our ability to repay a loan then we become a slave to the lender.
Proverbs 21:20 states that “The wise store up choice food and olive oil, but fools gulp
theirs down” and Proverbs 13:22 “ a good person leaves an inheritance for their children’s
children, but a sinners wealth is stored up for the righteous” (NIV). If Christians manage their
finances and apply proper accounting principles to them, they will be able to make solid
investments, accumulate inventory, budget properly and make a return and profit and in turn they
will have money to give to the needy as well as, to leave as an inheritance to future generations.
Additionally, the Bible states that “No one can serve two masters, for either he will hate
the one and love the other, or he will be devoted to the one and despise the other. You cannot
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serve God and money.” (Matthew 6:24 ESV). Finally, Christians should do all things for the
glory of God, not for worldly gain.
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References
Grudem, W. (2003). Business for the glory of God: the bibles teaching on the moral goodness of
business. Wheaton Illinois. Crossway Books.
Hagerman, R. (1980). Accounting in the bible. The Accounting Historians Journal, 7(2), 71-76.
Retrieved from http://www.jstor.org/stable/40697656
Hicks, M. (2017). Accounting for the non-financial manager. McGraw Hill Education
