Ddbates concerning knowledge are not relevant to accounting and its Essay

Ddbates touching knowledge are not relevant to chronicle and its practice - Essay physical exerciseAs such, knowledge has its limits some synthesis of object matter is inquireed through reasoning to prepare discovering. To objectively generate new knowledge various sources of knowledge exists that include induction, intuition, observation, experience, testimony, and introspection among others. Plato cautions that those seeking to understand knowledge must distinguish it from opinion. For example, business relationship statements stick out to be viewed objectively other than subjectively in creating reality and true knowledge. In my view, knowledge is fixed, absolute, and eternally true while opinions are changeable. Therefore, for one to be a true knowledge seeker, then they must naturally not consent to opinions, but have to strive with unwavering passion to establish the requisite nature of things that constitute facts. However, it is not certain that accounting operations can lead to such knowledge or truth, making knowledge not an essential consideration in accounting profession. On the other hand, Juan (2007) defines accounting as the art of collecting, analyzing, recording and posting, summarizing and coverage financial results in a significant and orderly manner, aimed at providing useful concepts essential in conclusion making. Juan (2007) explains that accounting operates on clearly defined fundamental principles those working in the profession have teeny-weeny discretion in influencing the out found of end results from accounting practices. First, accounting operates on a going concern principle, which assumes that a business entity will continue its operations for unforeseeable future without termination. Secondly, accounting assumes that businesses are lawful entities different from owners. In my view, the above two concepts in accounting are much based on assumptions rather than reality, which implies their application may not lead to reality or truth, but have been put in place to facilitate a standardized approach in accounting statements under a conceptual framework. Such assumptions may not lead to truth or reality in knowledge. Hines (1988) argues that the personate of knowledge on which the profession of financial accounting is based shows that such professionalization took place a round a number of personal qualities such as respectability, honesty and independence, unlike other professions which defy the existence of knowledge as the legitimate way to claim expertise and professionalism. Hine notes that the knowledge foundation of accounting profession is problematic in order to advance the accounting profession and maintain its credibility, there was need to stem such threats of the profession caused by the underlying knowledge foundation. For example, accounts perceived in high visualise in ethics and morality will presents a perception of reality and truth in their statements compared to those who d o not. This explains why some accountants may be preferred over others. Therefore, the increasing advocacy for a conceptual framework is perceived to be the best way to counteract the threat of accounting profession to affectionate legitimacy in the accounting profession .According to Hines (1988), a conceptual framework will bring unneurotic national accounting standards, sound accounting rules, stock exchange requirements, and other statutory requirements, which may leave from country to country. In my view, a conceptual