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1. The purpose and scope of accounting in complex operating systems

Accounting helps an organization to achieve its goals and objectives by collecting, classifying, and communicating the relevant information with the stakeholders about the transactions that took place within the firm during a specific period in the organization. The scope of financial accounting is to assess on asset formation, economic and financial stability, and legal economic relationships in the business environment. It reflects on the objective for the preparation of financial statements.


Accounting is the backbone of a business. All businesses have basic data that is recorded with the role of finding the organizations financial stabilization. Simply, even though accounting is not business, it is a vital part of the business environment. The role of accounting in the current economy is a vital one, as is the purpose of accounting in modern business to understand the financial position and to know if the organization is receiving an adequate profit (Hai Thanh Nguyen, 2021).






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