Accounting And Finance Represents Two Different Views

If some research is undertaken that provides evidence that capital markets do not always behave in accordance with the Efficient Market Hypothesis, does this invalidate research that adopts an assumption that capital markets are efficient?

Wayne Grudem wrote the book ‘Business for the Glory of God,’ this book is based on biblical teachings. The book discusses issues such as ownership, productivity, employment, commercial transactions, profit, money, inequality of possessions, competition, borrowing and lending, attitudes of heart and effect on world poverty from a biblical standpoint, each are “fundamentally good and provides many opportunities for glorifying God but also many temptations to sin.” (Grudem, 2003, p. 19) Grudem claims that business can glorify God. He states “I am going to argue that many aspects of business activity are

The acts of accounting and finance date back to the beginnings of recorded history and has evolved over the centuries to become a cornerstone of societies across the globe. Both the Old and New Testament of the Bible discuss the subject of accounting and finance in many scriptures and parables. The biblical concepts taught about accounting and finance are, without fail, applicable to modern business. Without an ethical foundation build upon a biblical foundation accounting and finance practices are bound to fail. This paper will tie biblical concepts to accounting and finance as well highlight the implications of a secularism.

Christianity assumes that our human nature is fundamentally and thoroughly flawed by sin, to the point where a divine miracle of grace is needed to allow us to trust Christ as Savior. Most people in Western cultures, however, do not consider themselves to be sinners and therefore feel no need for a Savior. Comment on this in the light of the detailed accounting rules and regulations intended to prevent investors from being defrauded, and the multi-billion dollar worldwide auditing profession that is intended to add credibility to financial statements.

The Bible establishes civil laws governing money. These laws rest on an accurate theory of money. Theologians do not recognize this. Neither do economists, who would not care even if they did recognize this. Today 's monetary policies violate the Bible 's laws governing money. The Bible is clear on three legal principles the monetary debasement is

What is the difficulty of “legislating morality?” How does that apply to accounting ethics? As I read the verses in this week’s discussion forum I begin to realize that it is difficult to establish a law if there is no moral component to it before it was made a law. Laws are driven by an array of moral interest such as to protect life, property, or liberty. This also means that just because a person obeys the laws of man doesn’t actually make them a good person they may be living a sinful life according to God’s word. In the Bible verse Deuteronomy 25: 13-15 talks about that as Christians we must be fair and consistent in every area of life. Also, we shouldn’t be judging others by one set of standards and then judge ourselves by a different,

The accounting system we use today started in Venice in renaissance period over 520 years ago. The trade business increased hugely during this time and all the financial recordings had to be written down to help people see how their business is doing. During that time in 1494 the first book about was published in accounting by Luca Paciolli and was called “The Collected Knowledge of Arithmetic, Geometry, Proportion and Proportionality”. He was called “The father of Accounting” and most of his described principles have been used up until this day.

As a Christian that is going into the field of accounting and finance, I find that is extremely important to know what my ethical values are. When things get difficult in the workplace, I need to be able to stand up for my beliefs and follow them even when it may cause me trouble. In the world of finance, the most important goal is maximizing wealth and profits at all costs. This paper will look at some of the ways a Christian financial manager can re-act to some of the things that the finance industry will throw at them.

Managerial Accounting reports are primarily used by supervisors, line managers, process owners, as well as executives, to gain a better understanding of the current financial and operational health of the organization. (Internal)

Paul writes in 1 Timothy 6:10 (KJV), “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.” The accounting firm of Arthur Andersen exemplified this statement completely. The firm which began in the early 1900’s as a stalwart defender of ethical behavior, by the beginning of the twenty-first century was more corrupt than anyone could imagine. The fallout from the demise of Arthur Andersen has been immense and some lasting effects can still be felt today.

The primary difference between financial and managerial accounting is that financial accounting is used for external members of the company; they do not control or run the businesses’ operations. An example of external members would be customers and shareholders of the business. On the other hand, managerial accounting is used for internal members in the company such as managers and officers. The internal members use managerial accounting to increase efficiency and effectiveness within their company. According to accounting4management.com, financial accounting and managerial accounting have several differences, but they both depend on the same data.

It has been become an issue of great concern that the accounting profession must find a common theory in order to address and put the issue at rest. This therefore, has called for the study of this topic under review “the demand for and supply of accounting theories: the market for excuses. As a result of this several questions have been raised. For instance, the question of why accounting theories are predominantly normative has been put forward by this article? Secondly, why no single theory in accounting profession that is generally or widely accepted? It has been argued that the financial accounting theories have been found to be ineffective most especially in the area of impacting accounting practice and policy, though, this has been

The definition of accounting theory according to Coetsee (2010) is described in two different ways. The first philosophy concludes that accounting theory is a set of general principles that guide the evolution of accounting practice. The other philosophy describes accounting theory as activity of explaining and predicting accounting practice. What the viewer can see from the statement of the first philosophy is that the accounting theory exists before accounting practices meanwhile the latter states that the accounting practice exists before the theory. Since there are many arguments about this matter, many academic researchers have concluded that accounting theory can be divided into two categories which are positive and normative theory.

Accounting is the language of business. It is a profession that is being guided by principles, concepts, conventions, laws, etc. All these fundamental building blocks serve as common and general compasses to all practitioners of the profession. In some cases, they are nation-wide tailored, while in other cases, they are universally tailored. Accounting as a living, practical, dynamic and realistic profession covers so many areas of social, economic (business), and governmental activities. Surely, any endeavour that involves monetary and material activities create a room for the services of Accounting. Many of the human endeavours for which the accounting profession plays significant (some times inevitable) roles include; Banking, Insurance, Manufacturing, Farming Contracting, Oil and Gas, Mining, Transportation (Air, Land and Sea), Educational Institutions, Churches, Ministries, ICT, Hire Purchase, Local Government Authorities, Estate Businesses, Export and Import Businesses, Bill of Exchange Transactions, Royalties Transactions, Consignment Transactions, Stock Market Transactions, Sports, Entertainment, Hospitals and Hospitality Industry, etc.

Accounting can be defined in a number of ways, but I chose the book definition, which is; Accounting is an information system that provides reports to stakeholders about the economic activities and condition of business. The person in charge of accounting is called the accountant. The accountant is typically required to follow a set of rules and regulations. These rules and regulations are called the General Accepted Accounting Principles. Throughout these next few paragraphs, I will be giving you the history and evolution of accounting, and I will be explaining who the stakeholders are and what type of information they require, and I will be explaining the role of accounting in business. There will be many examples and type of business