Warsaw, Poland

Accounting & Audit

Master's
Field of studies: Business Management
Language: EnglishStudies in English
Kind of studies: full-time studies
University website: www.wsm.warszawa.pl/en
Accounting
Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Audit
An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditing has become such a ubiquitous phenomenon in the corporate and the public sector that academics started identifying an "Audit Society". The auditor perceives and recognises the propositions before them for examination, obtains evidence, evaluates the same and formulates an opinion on the basis of his judgement which is communicated through their audit report.
Accounting
Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods.
Kenneth Boulding (1958, p. 95) as cited in: Edward Stamp, Michael J. Mumford, Ken V. Peasnell (1993) Philosophical Perspectives on Accounting. p. 147.
Accounting
These experiences are not 'religious' in the ordinary sense. They are natural, and can be studied naturally. They are not 'ineffable' in the sense the sense of incommunicable by language. Maslow also came to believe that they are far commoner than one might expect, that many people tend to suppress them, to ignore them, and certain people seem actually afraid of them, as if they were somehow feminine, illogical, dangerous. 'One sees such attitudes more often in engineers, in mathematicians, in analytic philosophers, in book keepers and accountants, and generally in obsessional people'.
The peak experience tends to be a kind of bubbling-over of delight, a moment of pure happiness. 'For instance, a young mother scurrying around her kitchen and getting breakfast for her husband and young children. The sun was streaming in, the children clean and nicely dressed, were chattering as they ate. The husband was casually playing with the children: but as she looked at them she was suddenly so overwhelmed with their beauty and her great love for them, and her feeling of good fortune, that she went into a peak experience . . .
Colin Wilson in New Pathways In Psychology, p. 17
Accounting
It’s simply to say that managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.
Warren Buffett 1982 Chairman's Letter
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