While accounting education in Cambodia has been remarkably improved at present, the focus is more on know-how rather than know-why. To some extent, this limits students’ understanding of the complex reality of accounting. This article provides a concise overview of accounting thoughts that have been examined and debated for some decades in the wider accounting literature. It aims to raise awareness of the importance of this topic among accounting students in Cambodia. It suggests that attention to accounting philosophy be needed in the current accounting education system so that accounting students, who will be the future accounting practitioners or researchers in the Cambodian accounting field, have a better understanding of the concept and importance of accounting for organizations and societies.