Question

Requirements

Identify a macro theme of accounting that you would like to investigate.

Explain why you selected the topic. .

Perform a brainstorming exercise to delimit the topic.

Brainstorming should include at least 10 concepts or ideas.

Specifies what the central theme is and what the secondary themes are

Answer 1

Macro theme of Accounting refers to managing accounting by considering the whole economy of the nation or geographical area, and society at macro level. It is mainly associated with the states, local agencies, public corporation, and financial institution like banks etc. This accounting also called as National Accounting that used date of local, state and national resources to compute National Gross Profit, Gross Domestic Product, National and External Debt etc. Therefore, the economic health of a nation or even the world is depends upon the National Accounting. It should also be properly investigated that there is no inaccuracy in national accounting because the economy is mainly depends upon the proper national accounting.

Macro accounting further can be divided mainly in two categories like core accounting system that includes National Income and Product Accounting, Input-Output Accounting, Balancing of Payment Accounting, Fund Flow Accounting, & National Balance Sheet; and other category of Macro Accounting is Satellite System which includes National Resources Accounting, Macro Environmental Accounting. This is mainly associated with sustainable development of natural resources such as water, minerals, forest, and land etc.

Therefore, in order to implement proper fiscal and monetary policies for the development of economy, a proper national accounting must be in place for the development of nation. The Bureau of Economic Analysis of the Department of Commerce is mainly responsible for the National Accounting and to maintain balance in the economy.