Anna Vysotskaya
Associate Professor in Accounting and Audit, Head of Economic and Planning Department, 344092, Southern Federal University, Rostov-on-Don, Russia.
Keywords: Accounting information system, situational-matrix modelling, financial activity reporting, international accounting practice, information modeling system.

This study reviews principal issues of mathematics foundations in accounting and their role in accounting development. The paper also states the problem of professional accounting education in Russia within the historical context of the problem.

Article Information

Identifiers and Pagination:
First Page:1
Last Page:3
Publisher Id:Adv Bus Financ (2018 ). 3. 1-3
Article History:
Received:April 22, 2018
Accepted:June 6, 2018
Collection year:2018
First Published:June 25, 2018

Today, many events have proven basis for their development. Modern accounting models are not an exception in this sense. Due to the development of the modern technologies accounting models also got a great foundation for growth and improvement. Modern Accounting Information Technology (AIT) are based on the development of the use of a spreadsheet. Which in turn served as the basis of situational matrix modeling in accounting. Spreadsheet term coined in the first edition of the dictionary by Köhler (1952b, with 387-389). However, this fact does not mean that Köhler was its ancestor. It is more likely that the emergence of this phenomenon is associated with the works of E. Degranzh in 1795 and 1814 (Mattesich and Galassi, 2000).

On the other hand, if one defines the Accounting as a System, it is obvious that the data of such asystem will be based on principles that quite familiar to us. In case of accounting it is, of course,mathematics. The earliest reference to the fact that the basis of accounting is just a mathematical component, is contained in the work of an Italian monk L.Pacholi "Treatise on the accounts and records" and till today all the manual and computerized accounting systems in their logical construction are based on the principles and processes, described by him (Sangster and Scataglinibelghitar, 2010).

However, while tracing the development of accounting, one can see that the majority of the authors in majority neglect the mathematical component of it. The mathematical approach often leveled against the backdrop of false development of different accounting techniques, dictated mainly by procedural accountants thinking. So, the procedural thinking experiments did not leave minds, including Russian scientists (Jezierski, etc.). However, it seems, that the main mistake of all these ideas lays in the absence and detachment from the mathematical bases of accounting. And this is the greatest destructive force for accounting as a science.

Double entry bookkeeping was in use in Russia in the eighteenth century and public associations of accountants appeared in Russia late in the nineteenth century with their own professional journals, such as Accounting (Schetovodstvo) and Practical Life (Prakticheskaya zhizn) from 1888 and 1889, respectively. Pacioli and his treatise were discussed in a publication in 1809 by Karl Ivanovich Arnold, in the same year by Ivan Akhmatov, and in the following year by the President of the Russian Academy of Arts, AN Ilenin. Pacioli was held in very high regard in Russia and Russian accountants celebrated the 400th anniversary of the publication of Pacioli’s treatise in December 1894 with the first translation of the treatise into Russian (by Eduard Grigorievich Valdenberg), speeches, and a dinner (Sokolov and Sokolov, 2011).

After the planned period of Russian economy, the transition to International Financial Reporting Standards increased demand for training programs that were aimed not only at the university graduates, but also to professional accountants. Although some companies believe that the cost of training will not bring proper results, and make a decision in favor of outsourcing accounting services, increasing demand for additional economic education program lays in the professional development opportunities in this area.

Prior to 2011, such programs were directed primarily at the relatively limited number of banks, international insurance companies and some listed companies, which were obliged to report in accordance with IFRS. Most programs on the Russian educational market, are the branches of international professional educational institutions (eg, ACCA / DipIFR ACCA, CAP / CIPA, IFA / IAB, CPA and CA). Such programs typically contain predominantly IFRS themes embody complex skills, and offer certification at the end of the course. However, such training courses usually have a relatively high cost. Practice shows that the price is one of the most important factors when choosing an education program for professional development purposes. Though inexpensive alternative program based on short-term courses in Russian, based on the theory, and do not provide certification, do not have international status. When there are no national accreditation requirements for teaching accounting, program quality varies. The current state of accounting university teaching reflects the problems that have arisen during the implementation of IFRS in accounting practices, namely, the lack of adequate educational resources, lack of teachers with relevant professional experience and historically focused on fiscal rather than financial statements. The relevance of the study is the need for modeling the processes occurring in the accounting as a result of transformation, through the study of relations and mechanisms of interaction between economic agents, universities and society. Building foresight model transformation will give an understanding of the dynamics of professional accountancy training and ensure the balance of the labor market and the public interest, that will assist in determining the path of further development of the accountancy profession and accounting, as a whole, as an important stage of Russia development, and enrich our understanding of accounting in modern Russia. In particular, in the study by comparing the state of accounting in Russia with Western practices and the construction of foresight models of accounting transformation proposed decision a major scientific problem, namely, understanding the nature of the accounting profession in Russia today, compared with the same professions in other areas of the world economy. The solution of this problem will help to formulate specific proposals to improve and reform the training of professional accountants in Russia, as well as enhance the role and status of the Russian accounting in the context of globalization.



Decree of the Ministry of Finance of the Russian Federation ?160n from 18.07.2012 "On the introduction of IFRS and IFRS Clarifications on the territory of the Russian Federation"

Decree of the Ministry of Education of the Russian Federation "The list of specialties and areas of training of higher education» ? 1061 from 12.09.2013 (Electronic resource: Access: http://www.rg.ru/2013/11/01/obr-napravlenia-dok. treatment Date: October 2013).

Gurskaya M.M. (2013), Methodology and methods of accounting: the genesis and framework: a monograph. - Krasnodar: Prosveschenie- SOUTH – P. 287.

Kolvakh O.I. (2000). Situational-matrix accounting in accounting and economic analysis. Monograph - M.

Mattessich R.,(1964). Accounting and Analytical Methods, Englewood Cliffs NJ: Irwin

Kohler, E.L. (1952b). A Dictionary for Accountants. Englewood Cliffs, NJ: Prentice- Hall, Inc.

Mattesich R., Galassi G. (2000), History of Spreadsheet: from matrix accounting to modelling and computerization. // Accounting and its history. Collection of the papers from the World Accounting Historical Congress. – Madrid – Spain, July 19-21.

Sangster A, Scataglinibelghitar G. (2010). Luca Pacioli: The Father of Accounting Education. // Accounting Education 19(4):423-438, August.

Sokolov Ya.V. (1996), Accounting: from the beginnings to the present day: A manual for the universities - M.: Audit, UNITY, - 638 p.

Sokolov Ya. V. (1991), Historical overviews of accounting. – M.: Money and statistics.

Kuter M.I., Gurskaya M.M., Kuter K.M. (2011), The history of double-entry bookkeeping: double entry accounting // International accounting. -? 17. - P. 46-64.

© 2016 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. You are free to: Share — copy and redistribute the material in any medium or format Adapt — remix, transform, and build upon the material for any purpose, even commercially. The licensor cannot revoke these freedoms as long as you follow the license terms. Under the following terms: Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. No additional restrictions You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits
Editor in Chief
Professor Michael Dempsey (Ph.D)
Professor of Finance, School/ Department of Economics, Finance and Marketing Melbourne City Campus, RMIT University, GPO Box 2476, Melbourne VIC 3001 Australia.


A focus of research has been the interplay between risk and financial return in capital markets. In this area, I have addressed such issues as the relation between risk (as the variability of outcomes) and returns. This has led to an understanding of how random movements in stock prices (noise) might be manipulated to improve investment performance. Investors’ required return on financial assets (which equates with a firm’s cost of capital as the hurdle rate for its investment activity) is complicated by many factors (personal taxes and the Australian imputation tax system, as examples), which I clarify over a series of articles. I have also contributed with articles that have been critical of the status allocated to such core paradigms in Finance as the Modigliani and Miller propositions, the capital asset pricing model (CAPM), as well as the Fama and French three-factor model. My most important contributions are encapsulated in my book in 2015: Stock Markets, Investments and Corporate Behavior: A Conceptual Framework of Understanding, (author Michael Dempsey, published by Imperial College Press with World Scientific). My contributions across financial markets have also been published in leading international journals, including: Journal of Banking and Finance (2), Financial Analysts Journal (2), European Financial Management (1), Abacus (3), Journal of Investment Management (2), Australian Journal of Management (2), Journal of Business Finance and Accounting (3), Accounting and Business Research (3), Critical Perspectives on Accounting (3), Applied Economics (1), Accounting and Finance (1), Journal of International Financial Markets, Institutions & Money (1), Journal of Asset Management (1) and Australian Tax Forum (1). Grants Research Projects and Funding 2006-2012 2009-2012 ($165,000) ARC Linkage Grant: Chief investigator with Madhu Veeraraghavan, Paul Lajbcygier, Robert Faff and industry partners of Victoria Funds Management Corporation (VFMC) for “An Empirical Examination of Non-Market Capitalisation Weighted Indices in Australia“. 2008-2009 ($45,000) DIIRD (Department of Innovation, Industry and Regional Development) grant:with Madhu Veeraraghavan and Jay Wickramanayake and partners Invest Victoria for “Inward Direct Foreign Investment (FDI) into the State of Victoria: Improving the Quality of Investment Project Reporting“. 2010 ($6,000) Australian Centre for Financial Studies:Chief Investigator for “Rankings for Australian Managed Funds: A case of Performance Index Failure?“ 2007 ($11,000) Melbourne Centre for Financial Studies: recipient for “The Evidence for Fundamental Indexation“. 2006 ($11,000) Melbourne Centre for Financial Studies, 2006:Chief Investigator for “Alternative Risk Indices for the Mutual Fund Industry“. 2006 ($10,000) Melbourne Centre for Financial Studies, 2006:Chief Investigator for “Towards a Reconciliation of Portfolio Theory and Empirical Outcomes in Stock Price Behaviour: Australian Evidence“. 2006 ($3,500) LaTrobe University Grant: recipient for “Is Beta alive in China?“

Journal Highlights
Abbreviation: Adv Busi Fin
doi: http://dx.doi.org/10.21065/25205951
Frequency: Annual 
Nature: Online
Current Volume: 2 (2017)
Next volume: December, 2018 (Volume 3)
Back volumes: 1-2
Starting year: 2016
Nature: Online 
Submission: online  
Language: English

Cross Ref
Index Copernicus
Open J-Gate
Google Scholar
MediaFinder-77,000 + Publications
OCLC WorldCat 
Root Indexing

Subject & Scope
  • Accounting & Finance
  • Banking & Finance
  • Banking Management
  • Business & Accounting
  • Business & Information Technology
  • Business Accounting & Finance
  • Business Feasibility Reports
  • Business Studies
  • Combined Studies
  • Commercial Banking
  • Commercial Banking & Stock Exchange
  • Commercial Landing
  • Computerized Accounting (Peachtree, QuickBooks & Tally
  • Consumer Lending
  • Corporate Auditing
  • Corporate Finance
  • Cost & Management Accounting
  • Entrepreneurship Development
  • Equality Financing
  • Financial Accounting
  • Financial Management
  • General Banking
  • General Banking Financial Management
  • Income Tax & Sale Tax
  • International Banking & Finance
  • Islamic Banking
  • Islamic Syndicate Financing
  • Managerial Accounting
  • Managerial Finance
  • Micro Financing
  • Money, Banking & Finance
  • Personal Banking
  • PGD - Accounting & Finance
  • Risk Management
  • Specialization in Finance
  • Syndicate Financing
  • Takaful (Islamic Insurance)
  • Working Capital Management

Consortium Publisher is an online publisher that enjoys global presence with International Journals

Follow Us

©2009 - 2019 Consortium Publisher Canada

Contact Info

6252 Lisgar Dr Mississauga Ontario L5N7V2 Canada
+1 (647) 526-0885