oa Meditari : Research Journal of the School of Accounting Sciences - Financial accounting and reporting : sustaining relevance in the present time paradigm
|Article Title||Financial accounting and reporting : sustaining relevance in the present time paradigm|
|© Publisher:||University of Pretoria|
|Journal||Meditari : Research Journal of the School of Accounting Sciences|
|Author||D.G. Gouws and A. Rehwinkel|
|Publication Date||Jan 2004|
|Pages||77 - 99|
|Keyword(s)||Accounting constraints, Artistic elements, Dissipative system, Financial reporting, Intelligence, Relationships, Time paradigm and Transcendence|
Accountants are looking for innovative solutions to challenges and problemsthat seem to become increasingly numerous and complicated. Researchersdebate whether the emergence of these challenges is due to a general dissatisfactionwith the existing accounting paradigm. This article therefore presentsa transdisciplinary approach aimed at creating a new accounting paradigm.
The discipline of accounting is challenged by blending the limitationswithin the present paradigm with the discoveries in physics and quantum mechanics.This study shifts the attention to those aspects of reality that characterisetoday's accelerated social change, disorder, instability, diversity,disequilibrium and non-linear relationships - all with a heightened sensitivityto the flow of time. By interpreting financial accounting and reporting fromthis perspective, new perspectives are offered from a holistic paradigm oftranscendence in relation to the arrow of time and information capacity.
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