ABSTRACT
Accounting is often viewed as a measurement activity that provides the data in support of the organisation’s financial reports. It can therefore be considered as the language of commerce in support of corporate performance reporting. Notwithstanding, recent corporate history, together with the revolution in contemporary accounting and finance, illustrates that the application hereof is not a detached technical activity, but rather a battlefield of diverse ideologies. The contemporary accounting objectives as promulgated by key accounting standard setters are also characterised by large volumes of rules and principles, which are prone to varied interpretations.
