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Essay / Research Paper Abstract
This 3 page paper looks at the use of mathematics in accounting practice. Double entry bookkeeping is used as an example.
Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA344mth.rtf
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Unformatted sample text from the term paper:
hand, and eventually come up with figures for his clients. In fact, Jerry Seiberlich recalls his first experience in an accounting office in 1955 when everything was done by hand
and a mistake would cost someone a lot of time (Lamarre, 1990). Mathematical calculations were a part of the routine and it was obvious how mathematics were related to accounting
practice. However, since the time when accountants and tax preparers would have to erase wrong numbers and crunch numbers with a calculator and a pencil, accounting practice changed dramatically (1990).
Of course, accounting principles are very much the same. While preparation is getting easier, the truth is that tax laws and tax forms have become even more complicated
and it is getting more and more difficult to find a CPA who does not take advantage of computers (Lamarre, 1990). Of course, accountants may not have
to hand calculate all numbers but they must possess a good understanding of mathematics. Although that is true there is a perception that mathematics and accounting are completely different things.
For example, Krauthammer (1988) says: "We think of a math whiz as someone who can do in his head what a calculator can do on silicon. But that is not
math. That is accounting. Real math is not crunching numbers but contemplating them and the mystery of their connections" (p.92). That is one way of looking at it. Still, one
cannot deny that mathematics and accounting are inextricable. In business environments today, there are accounting departments, or sections with similar names, to do the math. Such employees do things like
keeping track of expense reports, doing the tax filings, crunching numbers, and creating financial projection reports, and so forth. This, to some extent, is what is known as applied mathematics.
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