Accounting system challenges and its impact on global environment of modern business

Abstract

Changes in the current corporate environment have been drastic due to the quick growth and acceptance of globalization and the massive progress in information technology.This study examines accounting system challenges and its impact on global environment of modern business.Key concepts such as accounting, accounting system, global environment and modern business were clarified.Challenges Associated with Accounting System and its impact on global business environment was discussed extensively.Finally, the study gave a vivid presentation of the future of accounting systems in Global Environment of Modern Business.It was recommended among others that corporations, governments, and civil society must work together to strengthen the global economy.