The Role of Accounting in an Organization 1. Purpose and Scope of Accounting in Complex Operating Environment 1.1 Introduction to Accounting Accounting is frequently referred to as the language of business since it is the foundation of exchanging financial information in an organization. The financial transactions are documented, classified, and summarized sequentially. Interpretation takes place to facilitate decision making. Accounting, in a nutshell, aims at providing the stakeholders with data that is both accurate and is useful. Creditors, investors, managers, and regulators are stakeholders who seek data on the performance of the business in addition to its financial health (Horngren, 2013) . The accounting is needed because it facilitates decision-making, ensures compliance, and the fostering of transparency in complex operating environments. It is not all about financial records. To illustrate, the accounting handles all the diverse financial systems and makes sur...