INTRODUCTION

Role of accounting practice followed in the organizational context is not only restricted
to the realization and recognition of financial items but expands from this to the
evaluation reporting and measurement sphere. One of the most important aspects of
accounting is the accuracy in measuring the particular financial items. Financial
accounts prepared in the organization are essential for the organization and in similar
manner their representation in the books of accounts need to be accurate and as per
standards. Along with recognition and reporting of the financial items, communication is
another key aspect for the financial accounting practice. Communication practice
followed by the accounting managers would help to gain the key information to
stakeholders involved in the organization. Hence present report would highlight the key
factors pertaining to the communication process involved in the accounting practice.