Ddbates concerning knowledge are not relevant to accounting and its Essay

Ddbates concerning acquaintance are not relevant to news report and its practice - Essay ExampleAs such, knowledge has its limits some synthesis of object matter is needed through reasoning to create understanding. 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, method of business relationship statements have to be viewed objectively other than subjectively in creating mankind 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 of course not consent to opinions, but have to strive with unwavering passion to establish the essential nature of things that constitute facts. However, it is not certain that score operations can le ad 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 reporting financial results in a significant and orderly manner, aimed at providing useful concepts essential in decision making. Juan (2007) explains that accounting operates on clearly defined fundamental principles those working in the profession have little discretion in influencing the output 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 legal entities incompatible from owners. In my view, the above two concepts in accounting are much ground on assumptions rather than verity, which implies their application may not lead to reality or trut h, but have been put in place to facilitate a standardized approach in accounting statements under a abstract framework. Such assumptions may not lead to truth or reality in knowledge. Hines (1988) argues that the body 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 presume the humankind 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 regard in ethics and morality will presents a perception of reality and truth in their statements compared to those who do not. This explains wh y some accountants may be preferred all 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 social legitimacy in the accounting profession .According to Hines (1988), a conceptual framework will bring together national accounting standards, sound accounting rules, stock supercede requirements, and other statutory requirements, which may vary from country to country. In my view, a conceptual