This research study is aimed at finding and relating information connected to public accounting and financial reporting. It is a theoretical research study on public accounting and financial reporting which aims at highlighting and providing solutions to challenges facing the public accounting sector. It will also provide recommendations that can be implemented to ensure good accounting practices. Several sources, mostly secondary, will be used to gather the relevant data. Information resources are gotten from data collected and derived from literature on public accounting and financial reporting. Relevant information on companies’ financial decisions will be used. The research will be carried out in a pre-master form using relevant books, journals, online articles, resources from available libraries among other resources. Information will then be analyzed and arranged for final presentation in writing. This will yield the results required to explain various factors like investment decisions, financial decisions, good accounting procedures, proper financial reporting and so on. The results will help to relate public accounting with financial reporting and show how the two sectors are important to the corporate and individual investment teams. This study will discuss in detail the goals of financial reporting and public accounting. It will strive to show the importance of good financial reporting and public accounting to corporate bodies and other organizations.
The remaining chapters of this research study will give an incisive view into the public accounting and financial reporting sectors. The chapters will be arranged as follows:
Chapter one contains a couple of steps taken to summarize the study; context of the study, statement of the problem, research question and sub-question, the background, the relevance, research design and methodology, organization of the study and prospective references.
Chapter two will deal with the literature review revolving around the research study. It will dig deep into the definition of accounting, give a history of the same, define financial reports, show and explain types of financial reports and give a detailed definition of the two while combined. The chapter will answer the question of how the two are related and the relevance of each independent discipline in relation to the other.
Chapter three will give a history of financial reporting and how the system has evolved over the years. This will assist in answering the question on how investment decisions are affected by poor financial records and poor record keeping.
Chapter four will describe standardization of the accounting sector and how the process affects investment decisions in the firm or the corporate world.
Chapter five will give an overview of the public accounting sector and try to answer the question of what can be done to improve it.
The final chapter, chapter six will be a summary of all the work under the research study and providing a conclusion.