A large portion of the accounting research literature focuses on the nature, market effects, and user interpretations of financial reporting standards. This literature has been of importance in the comprehension and development of modern accounting thought. Some basic tenets of the accounting process have already changed in response to the transformation in information processing technology, while some argue for even more radical transformations in the nature and focus of accounting research. These factors may lead, when properly understood, to substantive changes in accounting research that place a new emphasis on the underlying accounting processes and a reduced emphasis on the manipulations to be performed in the later reporting layer.
Accounting is the science of business measurement. Accounting processes capture economic (business) events (transactions and now also environmental issues) and deliver them to stakeholders (internal and external) to facilitate management and investment. A wide literature on accounting measurement evolved (Mock...
