Abstract:

Nowadays, accounting has to deal with the challenge of revolutionary change in new business conditions: new information technologies, social market economy, sustainable development, knowledge-based society (new economics), and, above all, lack of public trust in reporting information. Integrated reports are becoming increasingly important. Contemporary accounting has to deal with many revolutionary changes in the new economy. The consequence of these changes should be a verified, and perhaps partly new, set of paradigms. In the discussion on the state and directions of development of research in the field of accounting, the subject of paradigms of accounting science has been discussed for many years. The central problem of further development and transformation of this extensive and developed field of knowledge, which is accounting, is identification and reconciliation of its fundamental paradigms. The aim of this article is to present paradigms of accounting science and to review them from the point of view of future of theory and practice of accounting. An analysis of the literature of the subject has been used to achieve this goal.