Abstract
The advancements in the economic and regulatory landscape besides evolution of world as a global hub have given rise to multifarious transactions. The complexity of these transactions has unearthed glitches relating to subjectivity and inconsistency in the application of traditional accounting techniques. The ensuing loopholes are exploited by connoisseurs leading to manipulation and accounting scandals, thus, necessitating the enhancement of competencies of business professionals to safeguard their maneuvers.
Extensive knowledge of global developments, internationally recognized business practices and accounting standards is the need of the hour to satiate the demand of the ever-changing marketplace.