Accounts are the indispensable means of recording and subsequently knowing the economic and financial situation of the company, forming an essential part of a science and technology, accounting. Providing personalism to these is a primary cause to guarantee the constitution and coherence of science and allow its use and fulfill its role in the business world as a device that informs the management of the company.
The financial accounting object of treatment, is normative, governments legislate on its proper operation and ensure compliance, its mandatory nature, requires each account to have a specific function and this is defined, this vision is legal, but not economic. To appreciate that economic vision that the accounts offer us as if they were people or individuals in their operation, we will analyze a genuine accounting fact, the accounts that intervene, establishing an interrelation so peculiar that it manifests that functional personalism that the accounts possess and that will determine the nature of it based on its personalism and the role it must play in this science in order to be loyal to its basic principle, the faithful image,and consequently its belonging to an operating, financial or extraordinary result in practical application.
The situation that arises is the following:
Starting from the concept of accounting defined as the set of knowledge whose use allows to know the economic and financial situation of the company, as well as the result of business management, reflecting the faithful image of it and informing users of the business management accounting. Accounting as science and technology allows to know the situation of the company derived from its activity, understanding by situation all qualitative and quantitative data provided and derived from this science and technology. By offering qualitative and quantitative data and information of different general nature of the company (financial and non-financial… etc.), It allows to know all data not only explicit but also implicit. Understanding that accounting is not a mere quantitative gadget,but it gives us information on the operations that occur in it, in terms of activity, of the experience of accounting itself, we could make an analogy comparing financial accounting with respect to an electron, whose protons and neutrons detail a perfect and precise elliptical field versus accounting as a contraption that allows knowing the daily activity of the company, that is, the daily life of the company. All this leads us to the need that the accounting itself has that its accounts act with its own functional personality and that with it allows to know its economic and financial activity. For all these reasons, the seat presented above is exemplary to explain this situation. The first event that provides us with information (derived from the first account) is repair, that is,we will dedicate an expense to repair an element of our company. The second (derived from the second account) the endowment occurs as a present event because this event takes place now and possible, since the repair may or may not occur in the future (principle of prudence). When applying the endowment we are observing that there is an event that has occurred in the company that is the desire to eliminate this potential expense that had taken place. The fact is that we want this endowment to disappear, not implying on the one hand any consumption of assets, that is, no expenses, since we are talking about income and therefore an increase in assets, not spending, and on the other hand it cannot be reflected as income. operating, since these would indicate that the company has developed an economic activity,when the reality is no, that is to say that it is not exploitative. On the other hand, it cannot be a financial income, since it does not derive from any event that should be considered financial in nature. The only possible option is extraordinary income, we do it because we want this situation to happen in a premeditated but exceptional way.
The basis of all reasoning is to consider accounts as persons, a reality that reflects an economic situation, that is, explicit and implicit and financial events. For all this, the principle and omega of all this is the faithful image of an entity, faithfully reflecting the economic and financial situation of it, we conclude that the way the accountant acts in the face of the fact, the form of the accounting fact itself, it cannot be other than extraordinary, based on the personalism of the accounts, which finds its foundation in the accounts themselves, in the accounting fact, in the principles and in the definition of accounting.
Monograph:
Notes on financial accounting from the accounting knowledge area of the Pablo de Olavide University.
