Accounting Infrastructure is a set of systems and conventions that directs the functional accounting practice of an enterprise or a professional body under a legal framework and adopted accounting standards.
A standard accounting infrastructure ensures the quality of financial reporting for its stakeholders.
[subtitleh2]Components of a standard accounting infrastructure are:[/subtitleh2]
1. Information producer and users
2. Information intermediaries
3. Laws and regulations
4. Legal entity that monitors and implements the laws and regulations