ACCOUNTING AND ACCOUNTING INFORMATION
FOR, INTERNAL AND EXTERNAL USERS
PRESENTED BY Mr. EMMANUEL FONGEH
IN PARTIAL FULFILLMENT OF AN EXECUTIVE MASTERS DEGREE IN BUSINESS ADMINISTRATION.
At a glance, accounting can appear extremely complicated and confusing. The untrained eye may struggle to grasp the entire nature of accounting and see it merely as an incompressible mass of numbers. However accounting is much more for a company or an economic entity.
As intimated by the title, this thesis proposes the inclusion of information on flexibility as a means of enhancing the accounting information system of business organization. However the inclusion of such information would be incomplete with out prior discussion of the purpose of accounting and its product, accounting information as well as whom the users of accounting information are. I hereby strongly belief that the significance of accounting information cannot be fully appreciated, without first examining all the different individuals who are actually making use of the accounting information.
1.11 Theoretical Framework.
Before the nature of accounting can be addressed, the field of study must first be delineated. This entails an identification of the area of interest and the borders of discipline in relation to neighboring disciplines. Thus a successful definition of accounting should clearly delineate the boundaries of the discipline at a point in time, give a precise statement of its essential nature, and be flexible so that innovation and growth in the discipline can be accommodated.
A number of definitions of accounting have been given in this project, each of which attempts to demarcate its field of study. According to the AICPA (American Institute of Certified Public Accountants) accounting is...