The Impact of Behavioural Economics Concepts on Accounting Science

Vita Semaniuk and Nazar Marchyshyn
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Vita Semaniuk: West Ukrainian National University, Ternopil, Ukraine
Nazar Marchyshyn: West Ukrainian National University, Ternopil, Ukraine

Oblik i finansi, 2025, issue 1, 5-14

Abstract: The formation of information in the accounting system often depends not only on objective data but also on the subjective perception, psychological characteristics and cognitive characteristics of decision-makers. The purpose of the article is a comprehensive analysis of the influence of behavioral economics on accounting science and financial reporting through the prism of cognitive factors, information apperception and reflection. The study aims to identify the main psychological and social factors that determine the processes of managerial decisions in accounting systems. The article examines the process of forming and developing the theory of behavioural economics and behavioural accounting. The results of the study confirm that behavioural aspects of accounting significantly impact decision-making in the finance field. In particular, emotional factors play an important role in forming financial reporting, especially in times of crisis and uncertainty. In addition, cognitive biases such as anchoring, bounded rationality, and confirmation bias can distort data analysis and risk assessment. Automating accounting processes and using artificial intelligence reduce routine operations but, at the same time, create new challenges related to trust in algorithmic models. The globalization of accounting, driven by digital technologies, requires accountants to adapt to international standards such as IFRS and ESG reporting while considering cultural and behavioural differences that affect accounting practices in different countries. This study confirms the need to integrate behavioural aspects into the accounting system to increase its adaptability and reliability. Applying behavioural concepts increases the transparency of accounting information, reduces the risk of manipulation, and contributes to more effective financial management.

Keywords: accounting theory; accounting digitalization; behavioral economics; accounting system; cognitive factors; information system; managerial decisions; informational apperception; informational reflection (search for similar items in EconPapers)
JEL-codes: D11 D21 L29 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:iaf:journl:y:2025:i:1:p:5-14

DOI: 10.33146/2307-9878-2025-1(107)-5-14

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