The «Theory of Idle Class» by T. Veblen as the Basis of Institutional Approach to the Problem of Professional Accounting Judgment in the Context of European Integration

Abstract

The article is concerned with analysis of the «theory of idle class» by T. Veblen as methodological basis of institutional approach to professional accounting judgment in the context of European integration. In the course of the research the «theory of idle class» by T. Veblen was analyzed from the standpoint of formation of the dominant worldview, also the interrelation between it and the multivariance in accounting had been determined. The used methodological approach provided to formulate the assumption about the animistic nature of influence of multivariance on the accounting profession, this influence will be intensified in implementation of the International Standards of Financial Reporting (IFRS), which accompanies integration processes.

Keywords

• «theory of idle class»
• institutional approach
• professional accounting judgement
• European integration
• IFRS