The role of accounting in an organization

  1.  The purpose and scope of accounting in complex operating environments. ·         Purpose:          Accounting is the art and science of recording monetary transactions.   Accounting is the methodical recording of monetary business transactions.  The accounting process prepares and analyses financial reports in order to facilitate decision-making. Accounting is a constant process of providing information to interested people. Accounting, in other words, is described as an information system that maintains the process of detecting and measuring quantitative financial operations and communicating these financial reports to decision-makers or interested users of any business.  Accounting is only a tool for determining the financial situation of any business engaged in economic activity. Accounting is a managerial tool.   It is a system that keeps a record of financial activities and analyze...