A number of reports by academicians and practitioners all over the world have called significant change in the accounting methods and research and their relevance in the 21st century. Many believe that the accounting model is outdated with little relevance to the changes taken place in the wider world. Both the academicians and practitioners agree that if accounting is to serve a useful role in the changing environment, accounting education and accounting research should become more broader, dynamic and not constraint by a single approach. …
