Corporate reporting: Science or art . . . . . . . ful

Abstract

At the macro-societal level, accounting influences taxation policy-making, wage bargaining and economic restructuring. Accounting plays a vital role in these-activities which result In the transference of wealth. At both the micro-and macro-societal level accounting has a social responsibility to create and sustain investor confidence in the capital and labour markets and the economic infrastructure which sustains these markets.