Highlights
It could could be argued that the traditional form of accounting has been beneficial to the capita% markets and management often to the detriment of shareholders and society as a whole
The various corporate failures over recent years and the current pandemic has highlighted the tact that the current accounting rules do not allow companies to be linancially ;Oust to be able withstand extreme changes in the economic and social environment.
Also, with the 'increasing awareness of how companies are adversely affecting the natural environment and the social environment with their manufacturing and other processes there is a glowing need for accounting to change in order to reflect the needs of society which now sees sustainabitity and ethical corporate behaviour amongst other factors as important obiectives
REQUIRED
You are to write an indivdual report denlitymg the following
1. Critically evaluate the first paragraph of the assignment by using appropriate accounting theories and pi actical examples how the 'traditional' form of accounting has supported the capital markets in the UK or a country of your Choice
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