The myths and the science of accounting

Abstract

Much of the corpus of traditional accounting doctrine and practice rests on myths, propositions that are treated as not corrigible by recourse to observation and experiment. There are myths or quasi-myths in abundance, in respect both of substance and method. Adhocery, polarities and indeterminacies persist for lack of definition and critical analysis as well as for lack of empirical investigation. To escape from dogmatism takes time. But escape has been impeded by a romantic spirit which sets a priori wisdom above the self-correcting processes of scientific inquiry.