General Discussions on Philosophy and Reasoning

These flashcards cover key concepts and principles from the lecture on philosophy and reasoning relevant to accounting.

What is the significance of studying philosophy in relation to accountancy?

Understanding philosophical principles enhances critical thinking, reasoning, and ethical decision-making in accounting.

What are the key branches of philosophy?

The core branches are Metaphysics, Epistemology, Axiology (which includes Ethics and Aesthetics).

What does Metaphysics study?

It investigates the nature of reality and existence, asking fundamental questions about what exists and its nature.

What is Epistemology concerned with?

Epistemology is the theory of knowledge, exploring the nature of knowledge, its acquisition, and the distinction between belief, opinion, and knowledge.

What are the six types of pramāna in Indian epistemology?

They include Perception (Pratyaksha), Inference (Anumāna), Verbal Testimony (Śabda), Comparison (Upamāna), Non-Existence (Anupalabdhi), and Postulation (Arthapatti).

What does Axiology study?

Axiology is the philosophical examination of value, exploring ethical principles and aesthetics.

What is the distinction between Descriptive Ethics and Normative Ethics?

Descriptive Ethics aims to understand how people act and the norms they follow, while Normative Ethics focuses on what ought to be done.

What are the four purusharthas in Indian philosophy?

The four purusharthas are Dharma (righteousness), Artha (wealth), Kama (desire), and Moksha (liberation).

What is the role of Logic in philosophy?

Logic serves as the instrument of philosophy, aiding in valid reasoning and critical thinking.

What is an example of the application of Aesthetics in accountancy?

Aesthetics influences the presentation of financial reports to enhance understanding among stakeholders.