Accounting Theory Essay Examples - Only The Best to Spark Your Inspiration!

In theory, financial accounting and reporting should be objective and neutral. However, the standard setting process can be a challenge as it is influenced by external factors and groups with different interests (Gaffikin, 2005). In different countries, financial accounting tends to be heavily regulated, with laws governing how particular transactions and events are to be recognized, measured and disclosed (Gaffikin, 2005). As such, the accounting process leads to the generation of general purpose financial reports. There are two approaches to the accounting regulation process, the regulated and non-regulated approach (Hossain, 2011). The non-regulated approach is also known as the ...

Introduction

In the industrial era competition, several key concepts have become obsolete. Therefore, the environmental determinants of the accounting information should have new capabilities to win the competition. The national information technology infrastructure and the accounting information as a management of the financial resources should be in place for the smooth running of the national economy. This is to provide efficient operation of the firm with sufficient information in real time. However, it is not a simple concept that can be changed from the computerized accounting to AIS because it is a representative concept of the accounting reform and developments. ...