Jul 15, 2017 Research papers

Role of Accounting in Society

This paper concentrates on the primary theme of Role of Accounting in Society in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

Role of Accounting in Society



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Role of accounting in society Name Course Instructor Date Introduction Accounting information has been used for regulation purposes in the society this includes the focus on the efficiency of the different economic sectors as well as the value of money. Accountants need to respond to the needs of the society, while there are also requirements for provision of information to shareholders and employees. Accountants also provide information to decision makers. Since accountants also need to present financial information that reflects the true and fair view of financial records, they help to evaluate an organization’s system, while they may also provide tax advising and consultation to various entities (Mintz, 2013). Typically accountants are less involved in environmental and social reporting, which would be a new task that is not their primary responsibility. General bookkeeping The accounting profession requires accountants to complete financial records, while also keeping track of accurate accounts. Given that various stakeholders rely on financial information, the role of bookkeeping is necessary. This further allows organizations to handle their payment system, salary payment and fill bank accounts. This shows that bookkeeping is one of the basic functions of accounting that allows organizations to run their businesses (Drury, 2006). Even for people with no direct stake in a company, the accuracy of financial records depending on the accounting information s...

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