Role Of Accounting Concepts And Convention In Financial Reporting

CHAPTER ONE 1.0             INTRODUCTION 1.1BACKGROUND OF THE STUDY Every business organization whether in the public or private sector is established to achieve certain objectives. This could be profit maximization as in the case of the private sector or efficient and timely provision of essential services at a reduced price, as in the case of the public sector.  The performance of such business organization has to be reported in monetary terms to the owners of the business. (For example, shareholders in the case of private organization or the government as in the case of public) Accountancy …