From the beginning of accounting history in the fourteenth century to date, the updating of accounting took place to standardize accounting principles and create new standards and new sets of rules. There were no updates applied to the core of the financial accounting to add new enhancements and facilities to help grow and manage small business with cost-effective tools. The current accounting system delays the process of growing small business financially and administratively.
With the revolution of communication worldwide, small businesses have been growing tremendously; by applying simple ways of model engineering technology and computing science to restructure the existing accounting principles, it makes possible to create cost-effective tools and resources that put useful information at our fingertips. It reduces bookkeeping process, eliminates data redundancy, increases security levels, limits the need of third parties, and gets the necessary information to run and monitor business successfully.
Theory of Accounting Engineering: Reimaging Accounting in the Twenty-First Century for Everyone is for anyone interested in having a small business, either non-accountants or professional accountants, to manage business financials simply, easily without any sophistication.