Accounting 101: redefining accounting for tomorrow

Garry D. Carnegie

Accounting Education, 2022, vol. 31, issue 6, 615-628

Abstract: What is accounting today? Are conventional definitions of accounting adequate for the early 2020s? What definition do you teach? Accounting is positioned in this study as not a mere neutral, benign, technical practice. It is also a social practice and moral practice as understood based on the important research of accounting scholars across the past 40 years. The paper supports a new definition of accounting as technical, social and moral practice, proposed by Carnegie, G., Parker, L., & Tsahuridu, E. [(2021a). It’s 2020: what is accounting today? Australian Accounting Review, 31(1), 65–73. https://doi.org/10.1111/auar.12325; (2021b). Redefining accounting for tomorrow. IFAC Knowledge Gateway, April 6. https://www.ifac.org/knowledge-gateway/preparing-future-ready-professionals/discussion/redefining-accounting-tomorrow]. The era of calculative order in which we live is illuminated using a tailored case study on global university rankings, using the lens of the proposed definition of accounting. It is intended to provide a better understanding globally of the effects of accounting emergence and change to both professional accountants and non-accountants. Readers may ask ‘why’? Accounting has not attained its full potential and can contribute to shaping a better world from tomorrow.

Date: 2022
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DOI: 10.1080/09639284.2021.2014915

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