The Biblke and Accounting
Submitted By sergiojr78
Integration: The Bible and Accounting ACCT 212 Liberty University February 18, 2013
Abstract The following paper will show just how the Bible not only affects our spiritual life, but also our financial lives as well. For example, liabilities and investments are simply the use of money to, hopefully gain more money. Also discussed are the practice of borrowing and accumulating debt. The Bible doesn't specifically forbid these concepts, but it does give a clear warning about them. Corporations use accounting to keep an accurate record of their business much in the same way that a Christian student uses tools to keep track of their studies. Just as Christians go by the code of ethics set forth in the Bible, businesses use a code of ethics to keep their reputation such that consumers will want to utilize their products and services. There are many similarities between the Bible and accounting. This paper showcases some of these examples.
Introduction to Accounting and the Bible Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information. Today, accounting is considered “the language of business” because it reports financial information to a business to help others make better decisions. Accounting information is communicated through financial statements such as income statements, statements of owner equity, balance sheets, and statements of cash flows. Accounting focuses on recordkeeping of transactions and analyzes and interprets crucial information for businesses.
The Bible is God’s word to us and contains information that communicates relevant, reliable, and comparable information. Just like accounting, the Bible focuses on many different aspects of our lives, but it also contains accounting principles such as budgeting,...