"The role of accounting has changed over the period of time " Explain.
Yes, we agree with the statement that the role of accounting has changed over the period of time. Earlier accounting had a very limited role and that too for the proprietor only.But today, Accounting is a part of overall information system and provides information to various interested groups for different purposes.
It provides information-
It provides information-
1. For making economic decisions by Management, Financial Institutions etc.
2. For judging managerial ability through results of the enterprise
3. For activities affecting society etc.