The Role Of Accounting In Corporate Governance And How It Might Differ Among Countries Accy 6110 Case Study

302 words - 2 pages

Accounting plays an integral role in corporate governance. The function not only helps companies compile the data necessary to prepare the financial statements but also provides insight as to the soundness of these entities. It is important to differentiate between financial accounting and managerial accounting given that they serve two different audience – external and internal.
A sound and honest financial accounting practice helps shareholders make an educated decision and assessment in regard to companies’ overall performance over a specified period through periodic distribution of financial statements. This in turn will help stakeholders determine whether it is a worthy investment. On the other hand, managerial accounting is used to help managers identify, measure, analyze and interpret information to achieve company’s goals. With that being said, companies might not be able to make an informed decision about investment or operations without a proper accounting information and practice. For example, public companies...

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