Top 5 Challenges Faced By The Australian Accounting Industry

Top 5 Challenges Faced By The Australian Accounting Industry

Accounting is a process through which the economic information of a company is identified, measured and communicated to the internal and external customers. It helps to identify the financial health of a company, which in turn facilitates to judge the performance of a company. So, it is very important to have a good accounting system, to implement effectively.

Globally, the business environment has kept on changing over time. For example, the businesses have been globalized; multi-national companies came into existence. Information technology has been advanced to a great extent over time. These all have an impact on the accounting system. So, it is prerequisite to identify the challenges in accounting system from time to time and it is required to address them. These challenges can be typical for different countries depending on the accounting practices, government intervention and the prevailing regulations for accounting practices. Let’s have a discussion on the…

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