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It's 2020: What is Accounting Today?

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  • Garry Carnegie
  • Lee Parker
  • Eva Tsahuridu

Abstract

Based on the acceptance of the importance of clear definitions and concepts, we explore conventional definitions of accounting and chart their change and development. While accounting's definitions have evolved, they do not, in our view, adequately reflect accounting as social and moral practice but rather continue to position accounting as a technical practice, despite the valuable work of key accounting scholars particularly over the last four decades. We highlight the social and moral aspects of accounting and propose a new definition of accounting for the 2020s to stimulate discussion, debate and improvement. In our opinion, accounting has a way to go to reach its true potential.

Suggested Citation

  • Garry Carnegie & Lee Parker & Eva Tsahuridu, 2021. "It's 2020: What is Accounting Today?," Australian Accounting Review, CPA Australia, vol. 31(1), pages 65-73, March.
    • Handle: RePEc:bla:ausact:v:31:y:2021:i:1:p:65-73
    DOI: 10.1111/auar.12325
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    References listed on IDEAS

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    8. Zahid Ali & Ghulam Mustafa, 2023. "On Accounting Firms Serving Small and Medium‐Sized Enterprises: A Review, Synthesis and Research Agenda," Australian Accounting Review, CPA Australia, vol. 33(3), pages 313-332, September.
    9. Dominic Cyr & Suzanne Landry & Anne Fortin, 2023. "Financial Disclosure Management by Charitable Organisations: A Conceptual and Operational Framework," Australian Accounting Review, CPA Australia, vol. 33(1), pages 46-65, March.
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