ASSIGNMENT 1 FRONT SHEET

Qualification BTEC HND in Business

Unit number and title Unit 5: Accounting Principles (5038)

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Re-submission Date Date Received 2nd submission

Student Name Student ID

Class Assessor name

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I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.

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ASSIGNMENT 1 FRONT SHEET

Qualification BTEC HND in Business

Unit number and title Unit 5: Accounting Principles (5038)

Submission date 18/2/2024 Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student Name Pham Thi Thanh Huong Student ID BH00838

 Class MA07101 Assessor name MSc. Hoang My Linh

Student declaration

I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.

Student’s signature Huong

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P1 P2 M1 D1
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Table of Contents
I. Introduction.......................................................................................................................................................4
II. The role of accounting in an organization...................................................................................................4
1. Definition of accounting and general role of accounting in an organization............................................4
2. Different types of accounting.......................................................................................................................5
3. Career opportunities in accounting.............................................................................................................8
4. Fundamental principles of ethics in accounting.........................................................................................9
5. Required skills and competences for accounting roles.............................................................................11
III. The importance of accounting as an information system........................................................................12
1. Definition.....................................................................................................................................................12
2. The role and importance of accounting as an information system..........................................................12
3. The main users of accounting information...............................................................................................13
4. Quality of accounting information............................................................................................................16
5. Evaluating interrelationships of accounting function and other functions............................................18
6. Evaluate the role of accounting in providing the information.................................................................19
IV. Conclusion...................................................................................................................................................21
References.................................................................................................................................................................22
 I. Introduction

We are a sizable accounting firm that provides significant business advice to clients. We are
headquartered in central London and UK regional offices in Birmingham and Southampton. Last year,
group revenues were £200m with 25% coming from non-UK markets, mainly in Southeast Asia, and
have a small regional office in Vietnam. I recently joined the company as a Graduate Trainee under
their SME Units, offering accountancy and financial services to businesses that typically have a
turnover ranging from VND10b to VND100b. As part of my ongoing training, I prepare a post on the
company website. This page will be used to market and promote the company's accounting services to
new and existing clients. The title you have been assigned to this position is 'The role of accountant in
an organization'. .This article is intended to provide readers studying accounting with a more general
overview of accounting such as different types of accounting, career opportunities in accounting, and
The importance of accounting as an information system, its functions in businesses and how it works
so they can use it in research and study, and daily life.

II. The role of accounting in an organization.

1. Definition of accounting and general role of accounting in an organization.

Picture 1: What is accounting?

Accounting is the process of documenting a company's financial activities. Summarizing, analyzing, and
reporting these transactions to oversight organizations, regulatory bodies, and tax collection organizations
are all parts of the accounting process. One of the most important aspects of practically any business is
accounting. Small businesses may have a bookkeeper or accountant manage it, whereas larger
corporations may have vast finance departments with many people. Management can make wise business
decisions thanks to the information produced by many streams of accounting, including cost accounting
and managerial accounting (Sujaini, 2024).

The accounting department plays an extremely important role in an organization. According to Iabm
(2022), its role can be described as follows:

 Evaluate business performance: An accountant's responsibility is to compile information on

income and expenses, analyze it, verify debts, manage assets, and produce financial statements on
time so that management may understand the company's financial status and distribute funds
accordingly.
 Ensuring businesses fulfill their obligations according to state regulations: Understanding state
regulations on the data that firms must collect and the number of 3 papers they must present to the
authorities is one of the requirements for an accounting position. Accounting work must make sure
that debts like sales tax, VAT, income tax, social insurance, etc. are fully and accurately addressed.
 Forecasting the financial situation of the enterprise: The role of accountants is also clearly
demonstrated by their regular review of the budgetary resources of the company, which they use to
produce reports that track and forecast the company's financial condition and offer pertinent
advice. This is a significant factor in ensuring that there are sufficient costs to keep the overall firm
operating.
 Accountants play an important role in assisting managers and leaders to balance departmental
budgets, contributing to improving the efficiency of business administration; Because the most
important task of accounting is to help managers track revenue and spending, compile and store
accounting documents, ensure that the records and papers of the business comply with the law.
 All businesses are based on finance and budgeting, and accountants are the only people
who can truly comprehend an organization's operations through the gathering, assembling,
and reporting of financial statements. Therefore, any company must concentrate on creating
a capable accounting division. To ensure openness and accuracy in the implementation and
control of the company's budget, it is increasingly important for businesses of all sizes to
staff their accounting departments with competent individuals.
2. Different types of accounting

There are several different types of accounting that serve specific purposes in organizations. Here are
some main types:
Financial accounting: The basic goal of financial accounting is to keep track of, document, and finally
report on financial transactions through the creation of financial reports. Like management accounting,
financial accounting always focuses on historical performance. Instead, financial accounting gives an
accurate picture of a company's performance over a given period in the form of financial statements.
External stakeholders, such investors and financial institutions, are given finished reports.

Management accounting: In enterprises all throughout the world, management accounting is a type of
accounting. Management accounting is made to give management the data they need to make important
company decisions. Information about management accounting is privately shared with other employees.

Government accounting: Government accounting is managed by the Government Accounting Standards

Board (GASB), which, like GAAP, has created standards that monitor and report to all levels of
government. In contrast to financial accounting, which is subject to GAAP regulations. Governmental
organizations manage income and expenses using separate funds, which is the primary distinction between
financial accounting and government accounting.

Public accounting: Public accounting firms offer accounting services to a wide range of customers,
including service companies, manufacturers, retailers, NGOs, governmental bodies, and private
individuals. Public accounting places a strong emphasis on financial statement preparation and analysis,
audits, tax planning, and tax preparation.

Cost accounting: The specialty of cost accounting is to track the true expenses of business activities. Cost
accounting is primarily utilized internally in manufacturing settings, while it can also be employed in
service-based enterprises.

Forensic accounting: Accounting, auditing, and investigative methods are specifically combined in
forensic accounting. The financial operations of both individuals and companies are examined using
forensic accounting. Banks, law firms, police forces, and other institutions frequently utilize it to
investigate financial transactions and then provide the results in a comprehensive report.

Tax accounting: Tax accounting, in contrast to other types of accounting governed by the FASB, is
governed by the Internal Revenue Code (IRC) and is meant to ensure compliance by enterprises, nonprofit
organizations, and individuals. When calculating and disclosing tax liabilities for their clients, tax
accountants collaborate with these organizations to ensure accuracy (LuatVn, 2023).
  Differences between financial accounting and management accounting

Businesses use two different types of accounting: management accounting and financial accounting. These
two accounting specialties have diverse aims and purposes, encouraging variety and meeting the demands
of clients who require both internal and external data. Providing financial and non-financial information
for management choices inside an organization or corporation is the emphasis of the branch of accounting
known as management accounting. The main responsibility of management accounting is to gather,
examine, and present financial data linked to managerial tasks including planning, controlling, and making
decisions. In management accounting, managers use financial data to make crucial choices about
investments, budgeting, performance assessment, and pricing of goods and services. They can manage
business operations and comprehend resource consumption better thanks to financial information that
provides them with an overview of an organization's financial health. Financial accounting is the process
of gathering, processing, looking over, analyzing, and giving economic and financial information to the
people that need to use that knowledge via financial statements (Hoang Yen, 2019).

Here are the differences in the purpose and scope of the two types of accounting:

Financial accounting Management accounting

Purpose Recording, analyzing, and reporting The main goal of management accounting
financial data about a company is the main is to give managers in an organization the
goal of financial accounting. Information financial and non-financial data they need
provided to stakeholders outside the for efficient management and decision-
company, such as shareholders, banks, making. The goal of management
investors, and tax authorities, is the main accounting is to help management with
emphasis of financial accounting. Financial decision-making by collecting, processing,
information is produced to assess the and reporting internal data. Management
organization's financial performance, accounting information may include
including financial statements, cash flow production costs, profit by product,
statements, and income statements. financial projections, and volatility reports.
Scope Financial accounting includes the recording Assisting in the management of a
and reporting of all financial transactions company, management accounting focuses
of an organization, including revenues, on the gathering and use of both financial
expenditures, assets, liabilities, capital and and non-financial information. Calculating
 profits. It complies with fundamental production costs, managing budgets,
accounting concepts and global accounting assessing the performance of products,
standards, such as US GAAP or IFRS analyzing profits, and making financial
(International Financial Accounting projections are some of its potential
Standards). components. The special requirements of
the organization can be catered to using
management accounting, which is not
constrained by general accounting rules.
Nature of General purpose Specific purpose
the reports
produced
Time Almost always historical Often based on projected future
Orientatio information and past information
n

3. Career opportunities in accounting

For those with the appropriate knowledge and abilities, the field of accounting always has a wide range of
job options. Following are a few accounting-related careers you could investigate:

Picture 2: Career opportunities in accounting

Accountant: An accountant's main responsibility is to monitor and document all of a company's or
organization's financial activities. Financial statement preparation and reconciliation are additional
services provided by accountants.

Management Accounting: The main goals of management accounting are the analysis of financial data
and the provision of management information to aid in the firm's strategic decisions. They oversee
keeping track of, studying, and forecasting the financial health of the business.

Tax Accountant: Calculating, filing, and making sure that all applicable tax laws are followed are tasks
that fall under the purview of tax accountants. They frequently collaborate with tax authorities to
guarantee accurate and on-time tax payment.

Risk management accounting: Accountants that specialize in risk management evaluate and control a
company's financial risks. To develop strategies to reduce and control financial risks, they examine
financial data and information.

Auditing Accounting: Auditing accountants assess the accuracy and dependability of financial data
within a business. To verify adherence to accounting rules and standards, they inspect accounting systems
and procedures.

International Accounting: The management of financial information for businesses with global
operations is emphasized in international accounting. They must be aware of, apply, and ensure adherence
to global accounting standards.

Consulting accountants: To offer clients accounting consulting services, accountants can operate alone
or as part of a consulting firm. Financial planning, analysis, and regulatory guidance in accounting are a
few of the services offered.

Only a few of the accounting industry's career options are listed here. Numerous opportunities for career
growth and promotion are provided by the field's size and diversity.

4. Fundamental principles of ethics in accounting

Accounting professional ethics require each accountant and auditor to behave and operate honestly to
serve the interests of the profession and society. This is a guide for members to always maintain the
right professional attitude. Thereby contributing to protecting and enhancing professional reputation.
According to Kaike (2021), typical ethical guidelines include:

Integrity: In all interactions with colleagues and clients, one must be forthright and sincere.
Professional accountants are not to be linked with any reports, statements, notices, or other
information that they perceive to be inaccurate or deceptive, made without appropriate care, or that
omits or conceals crucial information. They must take the required actions to stop being tagged with
this information once they become aware that they are doing so.

Objectivity: Do not allow favoritism or conflict of interest. Or any undue influence over your
professional and business judgments. Professional accountants and auditors may encounter situations
that affect objectivity. It is not feasible to identify and specify all such situations. Professional
accountants and auditors must not perform professional activities or provide professional services if
they encounter a situation or relationship that creates bias or undue influence on professional
judgment. your subject related to that service.

Professional capacity: All professional accountants and auditors must maintain technical knowledge
and skills at the required level. Ensure the provision of quality professional services to customers or
business owners; Act prudently in accordance with appropriate professional and technical standards
when providing professional activities or services. Professional auditors and accountants must use
reasonable judgment while conducting these services to deliver high-quality professional services.

Prudence: Refers to responsibility, acting according to job requirements, carefully, thoroughly and
promptly. Accountants and auditors are required to disclose the inherent constraints of their services
and activities to clients, business owners, and other users as necessary.

Security: Security is an important factor in accounting work. The accountant is responsible for
protecting the financial information and accounting data from unauthorized access or abuse. This
requires the application of security measures such as password, data encryption, access control and
risk management to ensure that financial information is not leaked or used for wrong purposes.

Professional status: Must comply with relevant laws and regulations. Avoid any action that
diminishes your professional reputation. Professional accountants and auditors must be honest and
straightforward and must not exaggerate the services they can perform, their qualifications or
 experience; or Giving information or introductions that discredit you. Or make unfounded
comparisons about the work of other parties.

5. Required skills and competences for accounting roles.

Today, accounting is regarded as a popular industry and a crucial component of all businesses. You need
to study and develop several essential talents for yourself to work in this role, in addition to possessing
professional knowledge.

 Observation, analysis and synthesis skills: Working in accounting usually involves working with
numbers, specifically when gathering records, keeping books and reports, calculating income and
expenses, etc. You must be able to evaluate the current situation, recognize emerging events, and
quickly and accurately analyze and synthesize them in order to complete these responsibilities.
Near the end of the month and the year, accountants will be quite busy since they must compile
employee pay and costs. You need to be in good physical and mental condition, prevent errors, and
summarize effectively. an avoidable error. Because the corporation could suffer losses of billions
of dongs with just one single-digit miscalculation.
 Office computer skills: This prerequisite applies to all professions, not just accounting. To analyze
data, prepare presentations, and provide periodic reports and statistics, you must be especially
adept in Word and Excel. You also need to be knowledgeable with more specific accounting
software. Your job will benefit greatly from all these tools.
 Be careful and honest: Because your work will always be connected to information, books, and
paperwork about the financial condition, you must be careful and organized as an accountant.
Always make sure that the computed numbers are correct and that papers are simple to find.
Making one error somewhere will cause the entire system to malfunction, which will consume a
lot of time. The value of the integer has altered significantly if a dot or comma is inverted. You
must be a highly honest individual to succeed in this job. When hiring new employees, this is the
attribute that employers are most looking for. Honesty also means that the data you offer must
accurately reflect the nature of the resulting economic activity. Because the knowledge is
beneficial to managers, investors, clients, and businesses themselves.
 Communication skills: You can learn a lot from your coworkers and superiors by using
communication as a bridge to build a closer relationship with them. It is a talent that also gives you
 the chance to progress professionally. We all need to be able to behave diplomatically and have
good communication skills, not just accountants.
 Able to withstand work pressure: Every job comes with pressure, but accountants notably
frequently deal with books, paperwork, and other arising professional concerns. You must practice
having a steely spirit and the capacity to tolerate intense job pressure 10 if you want to prevent
errors and produce positive results at work. Avoid stagnating and working too hard; doing so will
increase your workload and your stress level.
 Time management skills: To finish your work on time, avoid spending too much energy, and avoid
letting your time pass ineffectively, you must be proficient at time management and organization.
Your productivity will increase if you properly organize your job so that you can utilize your time
and do more tasks.

III. The importance of accounting as an information system

1. Definition

Accounting is essential to a corporation since it is a system of financial data. Various viewpoints exist
regarding the role and importance of accounting as an information system.

An accounting information system is a system that a business uses to collect, store, manage, process,
retrieve, and report its financial data. This data can then be used by accountants, consultants, business
analysts, managers, chief financial officers (CFOs), auditors, regulators, and tax agencies (Fontinelle,
2024).

2. The role and importance of accounting as an information system.

Accounting serves as the backbone of any organization, providing crucial financial information that
enables effective decision-making. According to Simerp (2022), here are some key roles and
importance of accounting as an information system.

First, accountants compile and document financial information. Accounting professionals record
financial transactions to create a managed and structured financial database. Accountants organize
information into accounts to help organizations track their financial activities and assets over time.
This is important for the business to be able to monitor financial patterns and changes throughout its
operations. Accounting as an information system also plays a critical role in providing financial data.
Accountants produce financial statements like capital, asset, liability, and cash flow statements as well
as income, asset, and income statements. These reports provide information on how a company
operates. Making important decisions will be made easier with the use of this information for
management, shareholders, and other stakeholders. Through financial reporting, a business can also
meet the requirements for financial reporting set forth by stakeholders such as regulators, shareholders,
and banks.

The accounting system plays a critical role in decision-making. Accounting data and information are
available to support business decisions. Management and investors utilize financial data to evaluate
financial performance, pick investments, expand, cut costs, and control risk. Through the analysis of
financial data, accountants provide crucial measurements and information for making knowledgeable
decisions. For instance, by examining financial indicators like profitability ratios, cash ratios, and
profitability ratios, management can evaluate business performance and choose whether to change or
improve business strategy.

Aside from that, accountants play a critical role in ensuring that laws and accounting standards are
adhered to. Application of accounting principles and procedures ensures the reliability, correctness,
and fairness of financial information. Accounting ensures accurate information recording, compliance
with legal obligations, and adoption of national or worldwide accounting standards. This is essential to
boosting the company's credibility and reputation in addition to ensuring that it operates in a legal
business environment and avoiding the risks connected with regulatory compliance.

Overall, the accounting information system has helped to partially resolve three of the biggest issues
facing modern private businesses. First and foremost, to support and enhance the competitiveness of
businesses, second, to support business decision-making, and third, to support professional and
commercial activities to support businesses in becoming more and more successful.

3. The main users of accounting information.

Many people, entities, and stakeholders have an interest in the financial well-being of businesses. A
list is given below of some of the users of the information provided by accounting. According to
Tamplin (2023), these users can be categorized under external and internal users.
 Picture 3: The main users of accounting information

Internal users of accounting information system:

 Owner: Owners are the people who provide capital for the business. They need information
about the financial performance and position of the business. For this reason, they use
accounting information to investigate the financial affairs of the business.
 Management: Management is responsible for taking work from others in the most appropriate
way. Management needs accounting information to check the efforts of subordinates, ensuring
that those who are working hard are properly motivated.
 Employees: Employees are the people who serve in the business. Employees are interested in
accounting information because their salary appraisals, bonuses, and other monetary and non-
monetary benefits are attached to the company’s financial position.
 Individual: Individuals make use of accounting information in the day-to-day affairs of
managing their cash and bank balances, making investments, or deciding on whether to buy or
lease a car or home.

External Users of Accounting Information:

 Investors are the people who are ready to invest their money in a business. Investors who are
looking for business opportunities can only make correct decisions based on high-quality
accounting information. An investor is interested in knowing about the financial position of the
business. This kind of information is supplied in financial statements. Accounting information
shows the future potential of the business in terms of future profits for investors.
 Creditors give loans to businesses. Creditors use accounting information to evaluate
creditworthiness and other factors since this helps to guarantee that the loan will be repaid in
the future. Accounting information also helps creditors to make decisions about whether to
offer loans to a business in the future.
 Government agencies such as CBR and the Income Tax Department need accounting
information from businesses to levy tax effectively and accurately. Without accounting
information, these agencies may miscalculate the revenues generated for the government.
 Customer: Customers are divided into four categories: Producers, Wholesalers, Retailers, Final
consumers. Producers must have assurance about the continuous supply of materials needed to
make products. Similarly, wholesalers, retailers, and final consumers are interested in the
fluent supply of materials. For example, if any party (e.g., a wholesaler) believes that a product
may be unavailable in the future, they will shift their choice to another product. To help make
all these decisions effectively, accounting information is necessary.
 Public: The public is interested in accounting information because this informs them about the
financial health of individual businesses. In turn, it is possible to determine the overall impact
on the country’s economy.
4. Quality of accounting information

Picture 4: Qualities of Accounting information

The demand for accounting information by investors, lenders, creditors, etc., creates fundamental
qualitative characteristics that are desirable in accounting information. There are six qualitative
characteristics of accounting information. Two of the six qualitative characteristics are fundamental
(must have), while the remaining four qualitative characteristics are enhancing (nice to have)
(Corporatefinanceinstitute, 2023).

Fundamental (Primary) Qualitative Characteristics

Qualitative characteristics of accounting information that must be present for information to be useful
in making decisions:

 Relevance: Relevance refers to how helpful the information is for financial decision-making
processes. For accounting information to be relevant, it must possess:
Confirmatory value – Provides information about past events
Predictive value – Provides predictive power regarding possible future events
Therefore, accounting information is relevant if it can provide helpful information about past
events and help in predicting future events or in taking action to deal with possible future
events. For example, a company experiencing a strong quarter and presenting these improved
 results to creditors is relevant to the creditors’ decision-making process to extend or enlarge
credit available to the company.
 Faithful Representation: Representational faithfulness, also known as reliability, is the extent
to which information accurately reflects a company’s resources, obligatory claims,
transactions, etc. For accounting information to possess representational faithfulness, it must
be:
Complete – Financial statements should not exclude any transaction.
Neutral – The degree to which information is free from bias. Note that there are subjectivity
and estimation involved in financial statements, therefore information cannot be truly
“neutral.” However, if a company polled 1,000 accountants and took the average of their
answers, that would be considered neutral and free from bias.
Free from error – The degree to which information is free from errors.

Enhancing (Secondary) Qualitative Characteristics

Qualitative characteristics of accounting information that impact how useful the information is:

 Verifiability: The degree to which knowledge can be repeated using identical data and
presumptions is known as verifiability. For instance, if a business gave an accountant the
purchase price, salvage value, depreciation schedule, and useful life of $1,000 worth of
equipment, the accountant ought to be able to replicate the same outcome. Should they be
unable to do so, the data is deemed unverifiable.
 Timeliness: The speed at which accounting information is made available to users is known as
timeliness. Information that is not timely (and thus older) is less helpful when making
decisions. Accounting information must be timely since it must compete with other types of
information. It would be challenging for consumers of financial statements to assess how well
a company is doing right now, for instance, if financial statements are released a year after the
accounting period.
 Understandability: Understandability is the degree to which information is easily understood.
Today, corporate annual reports are more than 100 pages, with significant qualitative
information. Information that is understandable to the average user of financial statements is
highly desirable. It is common for poorly performing companies to use a lot of jargon and
difficult phrasing in their annual report to disguise the underperformance.
  Comparability: Comparability is the degree to which accounting standards and policies are
consistently applied from one period to another. Financial statements that are comparable, with
consistent accounting standards and policies applied throughout each accounting period, enable
users to draw insightful conclusions about the trends and performance of the company over
time. In addition, comparability also refers to the ability to easily compare a company’s
financial statements with those of other companies.

5. Evaluating interrelationships of accounting function and other functions.

To meet the needs and expectations of the business, its stakeholders, and society, the accounting
function's link to other organizational activities is crucial. The gathering, processing, and reporting of
financial data by an organization is centered on the accounting function. An organization's financial
information is impacted by a variety of other activities, including marketing, human resource
management, risk management, and research and development. Below is a detailed review of the
relationship between the accounting function and other functions to serve organizational goals:

Relationship with Administrator: To help management make strategic and efficient decisions, the
accounting function offers financial information. To guarantee that decisions are in line with
organizational objectives, management employs financial information. For management to assess
financial performance, pinpoint issues, and offer recommendations, accountants give financial reports
and related data. To make sure financial data is recorded accurately and appropriately reflects the
company's financial status, management must work in tandem with the accounting department.

Relationship with Marketing: The accounting department determines product prices, assisting
marketing in identifying pricing strategies and target markets. Sales and income are influenced by
marketing, which develops product requirements, modifies prices, and engages with customers.
Accounting offers data on product costs, earnings, and prices, assisting marketing in setting prices and
implementing access to market plans. So that accountants can effectively estimate and determine the
appropriate product prices, marketing must give information regarding market access tactics and client
wants.

Relationship with Human Resources: For HR to properly manage human resources, the accounting
function offers details regarding employee expenditures and benefits. The management and
 development of human resources ensures the growth and satisfaction of employees. Accounting offers
details on personnel expenses, pay, and benefits, assisting HR in making financial plans for workers.
To provide accountants with reliable data for financial reporting, human resources must disclose
wages, bonuses, and associated costs.

Relationship with Product Research and Development: To assist with product research and
development, the accounting function provides data on earnings, costs of goods sold, and financial
performance. Creating, evaluating, and improving products are the main goals of product research and
development. Product research and development can assess market viability and determine pricing
with the use of accounting information on costs, profits, and financing for products. To mold the
product in accordance with market objectives, product research requires information regarding price
and anticipated earnings.

Relationship with Finance: The accounting department offers financial data to manage the finances
of the company while assuring accuracy and adherence to accounting rules. Capital, investments, and
risk management are all managed by finance. Finance may assess and decide on investments, capital,
and financial strategy using financial reports and thorough data from accounting. Accounting and
finance must work together to ensure accurate financial data and use it to make the best possible
financial decisions.

Relationship with Customers: To foster a relationship of trust with clients, the accounting function
gives information about prices, product quality, and financial data. Based on product evaluations and
financial data, customers choose which products to buy. Accountants must present customers with
precise and transparent information about costs, revenues, and finances to aid with their purchase
decisions. Customers supply information about market demands and viewpoints, assisting accountants
in identifying and meeting such needs.

IV. Conclusion

In this report, we have examined the objectives of functional accounting in an organization. Then evaluate
the accounting functions within the organization in the context of regulatory and ethical constraints and
Evaluate the context and goals of the accounting functions in the work that meets the needs and
expectations expectations of organizations, associations and society. Finally, we critically evaluate
accounting's role in providing information to determine responses that meet the needs of organizations,
stakeholders, and society in complex operating environments. We hope that we will be able to respond to
your inquiries about the sector and that you will find it useful in understanding the function of accounting
and the significance of utilizing the service for your business.
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