The role of accouting has changed over the period of time do u agree explain

Hello Dear,

I agree with the fact that the role of accounting had changed over a period of time. Especially the advancements in economic development greatly contributed to changing the role of accounting and its scope at a broader level.

Initially, accounting was looked upon as the art of recording, classifying and summarizing in

1. 1. significant manner
   2. in terms of money
   3. transactions and events

   which are at-least-partially financial in nature and interpreting the results thereof.

2. Then accounting became the process of
   1. identifying
   2. measuring
   3. communicating

   economic information to allow informed judgments and decisions by users of information.

hope you understand

good luck