Accounting is a multidimensional practice. Carnegie, Parker and Tsahuridu (2021a, p. 69; 2021b) proposed the following definition: “Accounting is a technical, social and moral practice concerned with the sustainable utilisation of resources and proper accountability to stakeholders to enable the flourishing of organisations, people and nature”.

“Accounting is not a mere neutral, benign, technical practice” (2021a, p. 73). It needs to synthesise and prize ethical rigour, social responsibility and moral purpose alongside technical mastery.

Presently, accounting and accountants seem to be stuck in a narrow, technicist mindset. As a combined technical, social and moral practice, the following key questions are posed for the effective operationalisation of this definition in practice (Carnegie et al., 2023b):

This definition of accounting and the framework of key questions portrayed presents an impetus to accounting’s future leadership in shaping a better world. This necessitates shaping a fairer and more sustainable world, adopting and instigating UN SDGs-related solutions to the challenging issues facing the world.

Carnegie, Gomes, Parker, McBride and Tsahuridu (2024) emphasise the importance of accounting to extend, and move positively towards, emphasising and integrating the 1) technical, 2) social and 3) moral practice dimensions in accord with the discipline’s essence. These dimensions constitute and portray the essential public interest obligations to be consciously met in everyday professional accounting practice. For a diagrammatic representation, see Figure 3 “Public interest framework for multidimensional accounting” (2024, p. 1543).

Carnegie et al. (2024, p. 1552) conclude “This journey has already started! Get a ‘ticket to ride’!” This ride is for those who desire for accounting to reach its full potential and who want to contribute to the process of actively realising its potential. This occurs when accounting, serving the public interest as its mission, aspires in thought, practice, regulation and innovation, to stimulate the betterment of humans and non-humans alike. This is a fair and equitable world, one that steadfastly prizes the conservation and preservation of the natural environment and the protection and longevity of planet Earth.

Garry Carnegie Emeritus Professor of RMIT University
22 October 2024

Accounting is a multidimensional practice. Carnegie, Parker and Tsahuridu (2021a, p. 69; 2021b) proposed the following definition: “Accounting is a technical, social and moral practice concerned with the sustainable utilisation of resources and proper accountability to stakeholders to enable the flourishing of organisations, people and nature”.

“Accounting is not a mere neutral, benign, technical practice” (2021a, p. 73). It needs to synthesise and prize ethical rigour, social responsibility and moral purpose alongside technical mastery.

Presently, accounting and accountants seem to be stuck in a narrow, technicist mindset. As a combined technical, social and moral practice, the following key questions are posed for the effective operationalisation of this definition in practice (Carnegie et al., 2023b):

  • Technical practice: How do we do accounting? What conventions drive what accounting fails to do?
  • Social practice: What does accounting do? What are the impacts of accounting in the world?
  • Moral practice: What should accounting do? What should accounting not do?

This definition of accounting and the framework of key questions portrayed presents an impetus to accounting’s future leadership in shaping a better world. This necessitates shaping a fairer and more sustainable world, adopting and instigating UN SDGs-related solutions to the challenging issues facing the world.

Carnegie, Gomes, Parker, McBride and Tsahuridu (2024) emphasise the importance of accounting to extend, and move positively towards, emphasising and integrating the 1) technical, 2) social and 3) moral practice dimensions in accord with the discipline’s essence. These dimensions constitute and portray the essential public interest obligations to be consciously met in everyday professional accounting practice. For a diagrammatic representation, see Figure 3 “Public interest framework for multidimensional accounting” (2024, p. 1543).

Carnegie et al. (2024, p. 1552) conclude “This journey has already started! Get a ‘ticket to ride’!” This ride is for those who desire for accounting to reach its full potential and who want to contribute to the process of actively realising its potential. This occurs when accounting, serving the public interest as its mission, aspires in thought, practice, regulation and innovation, to stimulate the betterment of humans and non-humans alike. This is a fair and equitable world, one that steadfastly prizes the conservation and preservation of the natural environment and the protection and longevity of planet Earth.

Garry Carnegie Emeritus Professor of RMIT University
22 October 2024

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