Question

What is the primary reason for the business students and others to familiarize themselves with the accounting discipline?

Answer 1

In present scenario,every body is required to get familiarized with accounting discipline, because accounting today is much more than just book-keeping and preparation of financial reports.

With the help of accounting,now we are capable of working in exciting new growth areas such as forensic accounting (solving crimes such as computer hacking and the theft of large amounts of money on the internet); e-commerce (designing web-based payment system), financial planning, environmental accounting etc.

This realization came due to the fact that accounting is capable of providing the kind of information that managers and other interested persons need in order to make better decisions.

This aspect of according gradually assumed so much importance that it has now been raised to the level of an information system.