ABSTRACT
Accounting, or more specifically financial reporting, is not a subject that can be
gauged with complete precision. Financial reporting is not scientific and objective in
the sense that science and engineering can be. No matter how intelligent and educated
they might be, accountants cannot measure the financial performance of an organiz-
ation in the same way that engineers can measure the weight of a piece of metal since
there are not the same undisputed measurement criteria in accounting as there are in
the case of engineering.
