Abstract
This paper develops research in order to clarify whether accounting theory belongs to the natural sciences. Three features characterizing these sciences are identified and evaluated. These are the relationships of accounting theory with respect to the fundamental laws of nature, the possible existence of necessary constants, and the abstractness of the categories introduced, which requires the use of mathematics. Studies have shown that these characteristics are fully visible. The second principle of thermodynamics has shown its significant influence leading to the indication of the existence of a constant quantity, necessary in capital accounts. It also turned out to be the basis of the original method of calculating the depreciation of assets. The principle of dualism, fundamental for accounting, revealed that it is, among other things, equivalent to the first principle of thermodynamics. And the principle of minimum action has always stimulated the development of cost accounting and management accounting. The practical significance of the research presented in the second part of the article consists in revealing of the economic constant. This constant determines the actions of nature in economic processes. As a result of the research, the knowledge of the possibilities of the accounting system is being expanded, in particular by incorporating the measurement of human capital of employees and opening the way to financial reporting in this area.
Highlights
The links between accounting theory and mathematics are clear and repeatedly described
This paper develops research in order to clarify whether accounting theory belongs to the natural sciences
Three features characterizing these sciences are identified and evaluated. These are the relationships of accounting theory with respect to the fundamental laws of nature, the possible existence of necessary constants, and the abstractness of the categories introduced, which requires the use of mathematics
Summary
The links between accounting theory and mathematics are clear and repeatedly described. In this study, it is examined and it is shown that at the basis of accounting theory, there are physical laws, such as fundamental principles, in particular the principles of thermodynamics and the law of minimum action. The significant role of the first and second principle of thermodynamics is highlighted in order to explain the theoretical foundations contained in the principle of dualism, as well as to the progressive development of accounting as a scientific research program. The research reveals the economic constant on the pattern of physical constants, which determines the actions of nature in economic processes and is the basis for the calculation of human capital of employees and the theory of equitable remuneration
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
