AN APPRAISAL OF ACCOUNTING PROFESSIONS AND ITS IMPACT IN THE SOCIETY

1.1 BACKGROUND OF STUDY

The aim of this research project is to look into in detail the accounting profession and then remunerate its functions and rise in society.

The accounting profession is regarded in the course of history as social institution that when ever people met in the economic arena a references is needed to keep scare, this is accounting.

Since the turn of the 19th century, the accounting profession has grown tremendously all over the world. In fact, during the first sixty years of the 20th century, major economic and social force have thrust the accounting profession to new frontiers and responsibilities. The factor contributing to this growth are the increase of the large corporate business in number, size and complexity in addition to government influence in the affairs of business by taxation and regulation. Technological advance especially in the filed of computer, which has rapidly change the process of data accumulation and interpretation, are also factors contributing to the growth of the accounting profession.