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ESSAY ON THE LEGAL ETHICAL AND TECHNOLOGICAL CONCERNS OF THE ACCOUNTING AND FINANCIAL REPORTING OF BUSINESSES

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ESSAY ON THE LEGAL ETHICAL AND TECHNOLOGICAL CONCERNS OF THE ACCOUNTING AND FINANCIAL REPORTING OF BUSINESSES
The extent and expanse of the finance and accounting branches have been expanding at a considerable step which has also put load on this ground field. Companies and businesses interface their financial rank by producing few outlines to the exterior world so as to retain the interest of employees, shareholders, investors, customers, etc. This statistics is shared in the outline of financial declarations, annual reports, etc which makes it easier on the decision making procedure as well. Besides, showing misleading and untrustworthy reports to the clientele may dare the likeness of the firm which may tremble the interest of the outer parties inside the company. Few of the businesses which have demonstrated the interpreted financial statistics are WorldCom and Enron have drove to disasters, as a result of which investors, shareholders and others have to cause enormous quantity of losses, when these businesses proclaim bankruptcy, years after a healthy financial reports. The principal point of such type of financial announcement is to make it easier when it comes tho decision making process in the field of investment, credit, etc. The environment in which a business functions has an extreme impact on the accounting of that particular business. Countries possess all different past histories, cultures, values, political and economical structures, and they are also in diverse phases of economic development, these are the elements that highly influence the development as well as the operation of the financial accounting operations of the country. With these dissimilarities the financial accounting qualities that are being embraced by different countries differ significantly. There are so many different legal, ethical and technical matter that influence the financial announce as well as accounting. There have been few legal, ethical and technological responsibilities of this reporting of business, that are as follow: For years, the financial and accounting reporting
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