Evaluation of Accounting Practices

Even as not complicated as today, accounting has been part of human life since the first beginning. Accounting can be focus on the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information. This study of Incorporated P.L.Cs accounting practices and changes therein in Mekelle Zone explores the extent to which company reporting may have responded to the regulatory requirements and best-accounting practices for external reporting. The focal theme of this study is to suggest best practice to reform corporate accounting and financial reporting; achieve credible, realistic book of accounts and prevent financial failure. In this book the researcher has argued that there are bad, inconsistent or incomplete accounting practices by the majority of the incorporated P.L.C Mekelle Zone that demand compliance to the Commercial Code of Ethiopia regarding the maintenance of Book of Accounts; and as well that needs adherence to the modern Financial Accounting Practices. Hence, the researcher strongly recommends that there is an urgent need of intervention by the regulatory bodies.