TITLE:
Accounting among the Natural Sciences
AUTHORS:
Mieczysław Dobija, Jurij Renkas
KEYWORDS:
Accounting, Natural Science, Fundamental Principles, Economic Constant
JOURNAL NAME:
Modern Economy,
Vol.11 No.12,
December
30,
2020
ABSTRACT: This paper develops research in order to clarify whether
accounting theory belongs to the natural sciences. Three features characterizing
these sciences are identified and evaluated. These are the relationships of accounting
theory with respect to the fundamental laws of nature, the possible existence of
necessary constants, and the abstractness of the categories introduced, which requires
the use of mathematics. Studies have shown that these characteristics are fully
visible. The second principle of thermodynamics has shown its significant influence
leading to the indication of the existence of a constant quantity, necessary in
capital accounts. It also turned out to be the basis of the original method of calculating
the depreciation of assets. The principle of dualism, fundamental for accounting,
revealed that it is, among other things, equivalent to the first principle of thermodynamics.
And the principle of minimum action has always stimulated the development of cost
accounting and management accounting. The practical significance of the research
presented in the second part of the article consists in revealing of the economic constant. This constant determines the actions
of nature in economic processes. As a result of the research, the knowledge
of the possibilities of the accounting system is being expanded, in particular by
incorporating the measurement of human capital of employees and opening the way
to financial reporting in this area.