ACCOUNTING IS AN ART

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The results of Accountancy may be different if one chooses

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a different Accounting Policy.

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So it is not alike Mathematics.

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IN MATHEMATICS, THE RESULT WILL BE DIFFERENT ONLY

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WHEN ONE MAKES THE CALCULATIONS WRONG.

 

Question : 

Does it mean accounting is an art? In that case, some may be born artists.

Answer:

Yes, Accounting may be treated as an ART. 

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Now-a-days, efforts are being made ( continuously ) to

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PRESENT the financial reporting ( information ) in the most easiest way.

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When it becomes TOUGH to understand what does it really want to convey,

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it  becomes  a  M O D E R N   A R T .

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( Humour )



Replies (1)

 

Doubt:

It means there is chances of adujstments according to policy with the same figures....
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Clarification:


Yes, we should adopt (change to ) the most suitable policy which shows a reliable results for present and future.

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Whatever has been adopted as a policy in the past; may not be suitable according to the changed scenario. Hence prudent management will always change the policy which may be need of the hour.

 

 

 

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