International Accounting

Accounting data at different development milestones of accountancy

Vol. 21, Iss. 5, MAY 2018

Received: 13 March 2018

Received in revised form: 10 April 2018

Accepted: 25 April 2018

Available online: 15 May 2018


JEL Classification: B19, B29, B49, M40, M41

Pages: 585–594

Kashchina Zh.E. Saint-Petersburg State University, St. Petersburg, Russian Federation

Importance This article studies the concept of data incident in terms of accounting.
Objectives I present my comprehensive research into the role of accounting data as different accounting schools emerged and evolved. I constantly refer to the research Accounting: From Its Inception to the Present Time by Ya.V. Sokolov.
Methods Examining the way accounting data are analyzed, I use the methods of comprehensive, critical, and logic analyses.
Results Despite the development of technology in the post-industrial society, there still exists divergence of accounting data interpretation.
Conclusions and Relevance In the contemporary world of high technology, accounting requires new data processing methods, which would satisfy needs of those who use financial statements and accounting data. Competing in the highly volatile and uncertain market, entities have to make decisions faster, thus seeking for a bigger volume of relevant data. The traditional hierarchical process of decision-making takes too much time to be adequate in the new (digital) economy. Most accounting and financial reporting systems are not designed for quick decision-making. In this respect, I agree with some statements made by Ya.V. Sokolov in his studies, which, I believe, lay the basis for further development of the accounting theory in Russia.

Keywords: accounting data, incident, data refraction, accounting paradox, accounting school


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ISSN 2311-9381 (Online)
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