Is Better Accounting the Solution to All of Life’s Problems?

Your friend has just completed an introductory accounting course. She has heard that you are now taking accounting, and she has come to give you the benefit of her experience.

You discover that your friend is enamored with the field of accounting, and she now believes that most business problems can be easily solved through better accounting. In fact, your friend believes that most government, social, and spiritual problems can also be solved by a better application of good accounting principles. Given what you have read in Chapter 1, do you agree with your friend? Explain.