Accounting is a practice specifically designed to provide an accurate representation of an organisation’s performance. Do you agree?

Reflective assignement
There is a view that accounting practice was purposely designed with a goal of company’s
performance precise depiction. The point can be seen as right from the practical side as it is the
most accurate tool of companies’ achievements representation, however the power connected
with its significance makes accounting a source of the constant manipulations with a goal of
someone’s unfair wealth maximization. In my opinion, despite the weaknesses, system provides
with the majorly reliable information due to the constant monitorization by external and
internal compliance, the potential penalties in case of the rules violation, system structure that
minimizes the manipulations possibility and the constant technical accounting improvements
that continually lowers the manipulation probability.

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