Lessons from misclassification in international accounting |
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| Affiliation: | 1. Royal Holloway, University of London, United Kingdom;2. University of Sydney, Australia;1. Essex Business School, University of Essex, Wivenhoe Park, Colchester, CO4 3SQ, UK;2. Centre for Responsible Banking & Finance, School of Management, University of St Andrews, St Andrews, Scotland, KY16 9SS, UK;1. University of the Witwatersrand, South Africa;2. Metropolitan State University of Denver, USA;3. Towson University, USA;4. Department of Accounting, University of Waikato, New Zealand;5. College of Accounting Sciences, University of South Africa, South Africa;1. Business School, The University of Queensland, St Lucia QLD, 4072, Australia;2. Business School, Sun Yat-sen University, China |
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| Abstract: | Classification is a central activity in many sciences, such as chemistry. In social sciences, we cannot achieve the high precision and usefulness of the Mendeleev table of elements, but we can try to avoid poor classification. This paper sets out a method for identifying mis-classification in any field, drawing on the qualitative characteristics for useful information set out in the conceptual framework for financial reporting, particularly faithful representation and relevance. The method is applied first to various scientific fields and then to many classifications in international accounting and to other classifications used by accounting researchers. The causes of poor classification are examined; for example, some classifications are untrue, some are unfair and some are unlikely to be relevant for any important purpose. The implications for researchers are proposed. |
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| Keywords: | Classification International accounting |
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