Reference no: EM131737508

What will be responds to this?

-Question: Consider where evidence from your sources will help support your ideas, and make sure you comment on the evidence to show how it supports the topic sentence. (Use below paragraph)

Paragraph:

The function of accounting in the society has changed from the traditional view and has increased its interest requirements and power relations. Many businesses and organizations are financed by individuals in the society by acting as shareholders. However, these businesses usually face diversification challenges caused by globalization, base regulations, globalization of finance and the integration of financial sectors in the world. These challenges have led to increases in accounting challenges faced by organizations and businesses hence the need to develop a new technique for accounting for funds at their disposal (Worrell, Di Gang, & Bush,2013). Hence accounting information is the true representation of businesses true financial position by the shareholders; that is the society. To account for funds, it's a requirement that each business has its accounting or finance department that follows universally acceptable accounting principles coupled with conducting of an audit of their accounts and provision of a comprehensive income statement and financial position which must be available at all time. Accounting ensures fairness, security and even quality of the business. It's through accounting that the business can understand its profitability, liquidity, and its efficiency which can aid it in planning for future endeavors without making mistakes that may have negative impact and improvement on its financial health. The information provided enables individuals to make decisions on investment through consideration of associated risk and objectives of investment and financial performance of the organization before committing one's money