accounting infrastructure


Definition of accounting infrastructure

Accounting Infrastructure is a set of systems and conventions that directs the functional accounting practice of an enterprise or a professional body under a legal framework and adopted accounting standards. A standard accounting infrastructure ensures the quality of financial reporting for its stakeholders.

Components of a standard accounting infrastructure are:
1. Information producer and users,
2. Information intermediaries,
3. Laws and regulations, and
4. Legal entity that monitors and implements the laws and regulations

Was this definition helpful ?


Thanks for your Feedback

Your opinion counted earlier, Thanks