HOW IS ACCOUNTING RELATED TO OTHER SCIENCES? - SCIENCE - 2025

Accounting is related to other sciences such as economics, mathematics, statistics, administration or even computer science.

Accounting is a multifaceted discipline that can identify, measure, and communicate the financial health of an organization.

It is possible to have a better understanding of accounting once you have a more complete conceptual understanding of its other related disciplines.

Accounting can be defined as the process of identifying, measuring and communicating economic information in such a way that those who know that information can make better decisions thanks to new knowledge.

This branch involves collecting, analyzing and communicating financial information so that other people are able to make decisions. Accounting can be divided into several distinctive categories depending on the area in which they concentrate.

The sciences with which accounting can naturally interact include: economics, mathematics, statistics, law, and management.

The relationship between accounting and other sciences

1- relationship between accounting and economics

The main relationship between these two disciplines is that both are concerned with the effective and efficient use of resources.

Both accounting and economics seek to maximize wealth; economists and accountants are consistent with the importance of leaving capital intact when calculating income. The income can be distributed without affecting the capital.

Most importantly, when there is a need for any economic decision, there is a need for accounting. It can be understood that accounting provides the information by which economic models are prepared.

Economics analyzes how people earn and spend, how buyers and sellers behave under different circumstances, etc.

On the other hand, accounting documents the transactions of income and expenses measurable in terms of money; provides necessary and relevant information so that buyers and sellers can make decisions.

Accounting provides all the financial information required for individual buyers and sellers so that they can make good economic decisions.

2- Relationship between accounting and mathematics

Accounting and mathematics are closely related: accounting is the language of business, and mathematics is the language of accounting.

In various stages of accounting, arithmetic addition, subtraction, multiplication, and division are applied.

Accounting expresses all its transactions and financial change events in the language of mathematics. Mathematical principles are applied in all stages of accounting (account statements, ledgers, balance sheets, etc.).

For this reason, the process of maintaining good accounting is quick and easy. Mathematics is an indispensable part of accounting.

3- Relationship between accounting and statistics

These two disciplines are closely related. The main objective of these two sciences is to elaborate logical and understandable arithmetic figures, as well as to present them in the form of statements that can be used by project managers, directors, etc. They make planning and decision making easier.

Data collection, tabulation, analysis, and presentation are primary functions. These functions are used by both accountants and statesmen.

The use of statistics in accounting can be highly appreciated in the context of the nature of accounting records.

The accounting information is very accurate; it is accurate down to the smallest detail. But for the purposes of decision-making, such precision is not necessary, so statistical approximations are sought.

The main function of statistics is to collect and analyze quantitative data from various events so that they are then presented to the individuals or organizations involved.

For this reason, a statistician presents information in the form of short reports to managers, so that they can make decisions based on this information.

On the other hand, in accounting, after completing some transaction processes financial statements with relevant information are prepared.

According to these financial statements, the owners and directors of the organizations can make decisions

Statistical methods are useful when developing accounting information and its interrelationship. For this reason, the study and application of statistical methods will add something extra to the accounting information.

4- Relationship between accounting and administration

These two sciences often go hand in hand, as management relies completely on the information stored by accounting to make decisions in financial matters.

Management is a fairly broad occupational field, comprising many functions and the application of many disciplines including statistics, mathematics, economics, etc. Accountants are located in the administration and play an important role in its management.

Accounting provides all types of financial information in project planning and in the implementation of any business concern.

As a result, management can comfortably make decisions regarding project planning and implementation.

A large portion of the accounting information is prepared for management decision making. On the management team, an accountant is in the best position to understand and use this information. Therefore, an accounting system can be shaped to serve the administrative purpose.

The magnitude of administration extends from individual life to various fields of social life. The general development of commerce, government, autonomous bodies, etc. depend on management.

5- Relationship between accounting and computer science

The word computer is derived from the word computation; this word means to count. It is possible to solve mathematical problems involving millions and millions of data in just a few seconds thanks to computers. Likewise, it is possible to store this data in them.

In accounting, transactions must be recorded and the results must be determined. It takes a great deal of time and work to ensure the accuracy of the accounting. But thanks to computers, most of these obstacles are removed.

This is possible since many types of information related to transactions can be carried out quickly on computers; this saves work and time.

In addition, with the help of the computer, the validity of the information can be preserved and verified. The application of computers is increasing in the field of accounting problems.

References

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5. Relationship of accounting with other disciplines 2. Recovered from studyduniya.com