Accounting

Accounting can be divided roughly into four areas of study: Financial Accounting, Management Accounting, Auditing and Accounting History. In the field of Financial Accounting, the focus is on the fundamental issues such as the Recognition and Measurement Principles of economic activities, as well as the newest issues such as Accounting for Financial Instruments and M&A Transactions. Further to this, the field includes the Tax Accounting for calculating taxable income of corporate tax, as well as international tax. The research methodology places importance on an academic, theoretical approach, while also employing an empirical approach and historical approach. In the area of Management Accounting, diverse subject matters such as ABC (Activity Based Costing)/ABM (Activity Based Management), Cost Planning (Target Costing), Shared Services and Balanced Scorecard are covered. Empirical research based on field surveys are implemented proactively. Within the domain of Auditing, a broad range of issues including the fundamental issues that are represented by the auditor independence are addressed, e.g. everyday issues such as Risk Approach and IT Audits. Regarding Accounting History, the process of modernization of accounting or auditing in relation to the development process of a capitalist economy, has been widely explored. Moreover, the development of the Accountancy Profession which is a vital element of the Modern Accounting System sometimes requires analysis from a sociological perspective.