Discuss The Arguments Against Accounting Regulations

For many years there have been many arguments and investigations for the necessity of accounting regulations. Since the disclosure system, financial reporting and accounting practices, of this country, has shown serious signs of failing to keep up with the needs of individuals, business, investors and the economy in general. Many people have argued against the accounting regulations; however, I believed that accounting should be regulated for the numerous advantages that it can create. First I would like to mention some of the disadvantage if accounting is regulated and then express why I believe accounting should be regulated besides all the negative arguments against accounting regulation.
One of the first ideas that accounting should not be regulated it is because of the high cost to implemented the regulations. It will be costly for business since they will need to train their personal, so they can interpret and apply the regulations to their companies. The second argument is that the enforcement of the accounting regulations it is difficult due to the difficulty and volume of financial transactions that businesses need to process each year. And the last argument for me …show more content…
Regulations are highly necessary in or daily life; for example, in order to prevent the chaos on the road regulations where implemented, so we all follow the same rules. For example, to drive the car for the right side, so we can prevent accidents. This is just an example, but clearly reflects how regulations can protect societies from undesirable problems, individuals from losing their investments in the market, or investor from fraudulent organizations that may produce misleading information. It is important to point out that this regulations need to be follow by everyone so they can have the benefit