Accounting Assignment 1

Accounting Assignment 1

ACCOUNTING ASSIGNMENT 1 2

AccountingAssignment 1

Question(a)

Apartfrom Mathematics and commerce being my passionate subjects, there areother several reasons why I choose to be a major in Accounting. Inthe future after completing my studies, I aim to be a CharteredAccountant. Majoring in Accounting will give me the knowledge andskills to be a globally recognized Accounting with millions of jobopportunities all over the world. Apart from being a globally knownaccountant, I plan to venture into business. Majoring in Accountingoffers me a chance to acquire the business skills that are needed torun a business successfully. Due to globalization, today`s local,national and international markets are facing high competition.Majoring in Accounting, therefore, gives me a firm foundation tounderstand the factors that will make my business thrive and performwell in the highly competitive markets.

Question(b)

Accountingas a measurement system can be viewed as a form of regulation in verymany aspects. Accounting as a measurement system produces reliableinformation that organizations can utilize in developing new policiesor amending the existing ones. As a measurement system, Accounting isused in assessing the social impacts of corporate decision makinghence becoming a critical factor in the formulation ofdecision-making policies. Accounting as a measurement system can beviewed as a regulation since it helps organizations in employeeperformance evaluation. The data generated from such activity isuseful in making policies regarding performance and preferredorganizational behavior. It is important to point that manystakeholders prefer Accounting as measurement system since itprovides reliable, consistent and relevant information about theirorganization. As a measurement system, Accounting influencesstakeholders` decision-making in the formulation and implementationof various policies.