We continue from our previous lecture...
Uses of Accounting History
Recreational – fact finding in the development of accounting.
Explanatory – when/why adopted and abandoned a certain practices.
Problem solving –solution of present day accounting problem.
Prediction – help predict the future.
Importance of Accounting History
- Accounting Pedagogy – Accounting history is helpful to a better understanding and appreciation of accounting and its evolution as a social science.
- Accounting Policy – Accounting history can help towards a better understanding of accounting problems as well as contribute towards formulation of public policy.
- Accounting Practice – Accounting history could provide a better assessment of the existing practices by a comparison with the methods used in the past.
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