Advanced Accounting & Finance: A study on Current positions

This paper is a result of survey of contemporary accounting research topics and proposes critical issues in accounting research. This study summarizes the extant accounting research into six major areas and is among the few to recapitulate most important current accounting research topics with a synthetic framework as well as some critiques on missed pieces of the current research. As research indicated, academia closely serves the purpose of accounting practices, which prominently shows in accounting research.

arXiv (Cornell University), 2014

Accounting frameworks follow stipulations of existing Accounting Theories. This exploratory research sets out to trace the evolution of accounting theories of Charge and Discharge Syndrome and the Corollary of Double Entry. Furthermore, it dives into the theories of Income Determination, garnishing it with areas of diversities in the use of Accounting Information while review of theories of recent growths and developments in Accounting are not left out. The method of research adopted is exploratory review of existing accounting literature. It is observed that the emergence of these theories exist to minimize fraud, errors, misappropriations and pilfering of Corporate assets. It is recommended that implementation prescriptions of these theories by International Financial Reporting Standard Committee and Practicing Accountants should be adhered to and simplified so as to avoid confusing and scandalous reporting of financial statements

Accounting frameworks follow stipulations of existing Accounting Theories. This exploratory research sets out to trace the evolution of accounting theories of Charge and Discharge Syndrome and the Corollary of Double Entry. Furthermore, it dives into the theories of Income Determination, garnishing it with areas of diversities in the use of Accounting Information while review of theories of recent growths and developments in Accounting are not left out. The method of research adopted is exploratory review of existing accounting literature. It is observed that the emergence of these theories exist to minimize fraud, errors, misappropriations and pilfering of Corporate assets. It is recommended that implementation prescriptions of these theories by International Financial Reporting Standard Committee and Practicing Accountants should be adhered to and simplified so as to avoid confusing and scandalous reporting of financial statements.

1987

Accounting research is developing in diverse ways. Attempts to understand and design accounting through the study of its practices have been augmented by applying insights from economic analysis and, more recently, psychology. These traditions now inform conventional accounting theory (American Accounting Association, 1977) and have linked accounting with decision making and a contractual view of the world. Of course, any way of seeing is also a way of not seeing. There is a growing body of research that seeks to explore the silences and lacunae --the unseen --of conventional accounting theory. This research --often critical of the theoretical orthodoxy --is frequently informed by sociology and political theory. Many of those who are critical of conventional research are also concerned to develop new accounting systems, accounting institutions and even systems of social organisation. Yet a commitment to critical research perspectives and a concern to develop new social and accounting designs do not necessarily go hand in hand.

2021

The main purpose of this paper is to highlight the Accounting Education as a real asset that must continually evolve in order to best prepare future professionals on accounting for the new requirements imposed by technology and globalization. To do this, a descriptive methodological approach has been deployed to present Accounting Education Standards (IESs), which are developed by the International Accounting Education Standards Board (IAESB). These standards are influencing Accounting Education and training worldwide. The goal of the IESs is to ensure that economic decision makers can rely on the competence of professional accountants regardless of the country where the accountants received their education and training. Two major lessons emerge from this study. On the one hand, that the organizational structure, globalization and technology impact the skills needs of the accountancy profession and, on the other hand, there is a gap between the training provided and the needs of the profession.

This paper describes the development of what has been regarded as accounting theory concentrating largely on that in the first 70 years of the 20th century. It demonstrates that a major motivation for this theory was the generally accepted belief in the need for greater conceptual rigour in accounting theory and research. A major part of this theorising was designed to solve a major accounting problem, viz accounting in periods of changing prices, notably inflation. In examining this early theorizing the paper describes the elements of theories and their use by academic theorists, practitioner theories and theories from various committees.

2025

Background: The historical records of accounting has enabled people to comprehend the up to-date history of accounting to make better predictions regarding the times ahead. Imperatively, studying accounting theory's evolution within the twentieth century would provide understanding to appreciate how existing practices and dilemmas emerged. Objective: This paper poised to contribute knowledge to accounting theory's evolution within the twentieth century with focus on a methodical overview of paradigm changes in accounting. Methods: Relevant information for analysis were obtained from accounting, finance and business journal articles listed on Google Scholar which are relevant to the subject under review. Qualitative analytical approach was employed to analyse the relevant information obtained from the relevant articles that related to this paper. Results: This paper observed that, the historical journey of accounting theory's evolution within the twentieth century indicates an unceasing determination to enhance understandability, accountability and similarity in reporting financial matters right from the early 20th century through to the establishment of international accounting standards and thereafter. It also emerged that the true history of accounting has been confirmed with the help of archaeologists and historians; as a result, the demand placed on contemporary decisions regarding accounting is integrated under a comprehensive framework based on which all economic information are demonstrated. The results showed that Accounting theory has advanced significantly all through the 20th century, affecting the rules and standards for preparing and presenting financial accounts. Conclusion and Recommendation: Considering the outcomes of this paper, conclusion was drawn that, accounting theory evolved during the twentieth (20th) century, shifting from historical report-maintenance to advanced economic and behavioural involvement of bookkeeping records. This evolutionary trend was motivated by the requisite for a more pertinent and efficacious data, and advances in financial theory and empirical study approaches. This paper recommended that implementation directives of accounting theories with the support of the International Financial Reporting Standards Committee (IFRSC) and Practicing Accountants are complied with, and made easy so as to surpass complicated and outrageous financial reporting.

Archives of Business Research , 2019

The dimension of the accountancy profession is undergoing an increasingly expanding and unpunctuated global evolution. These 21st-century twists, however, tend to pose an identity threat to the profession. The much-celebrated software substitution of the traditional roles of the Accountant coupled with the apparent professional crosscarpeting of non-accountants aided by these emerging digital initiatives appears to 'take-over' the seat of the Accountant. This paper begins with an overview of the crosscenturial evolution of the accounting thought to date. It also reasserts the professional distinctiveness of the 21st-century Accountant by redefining and marking out his strategic essence in the light of the present day expectations. With an end to this evolution far from sight, the paper further reiterates the ACCA-recommended future imperatives of the accountancy profession. With the compendium of issues articulated in this paper, Accountants would be more orientated towards obtaining and maintaining a meaningful distinctive professional and global relevance in the coming days.

Accounting and Finance - New Perspectives on Banking, Financial Statements and Reporting, 2019