Yuji Ijiri, observes “As the language of business, accounting has many things in common with other languages. The various business activities of a firm are reported in accounting statements using accounting language, just as news events are reported in newspapers, in English or another Language.
To express as event in accounting or in English we must follow certain rules. Without following certain rules diligently, not only does one run the risk of being misunderstood but also risks a penalty for misrepresentation, lying or perjury. Comparability of statements is essential to the effective functioning of a language whether it is in English or in accounting. At the same time, language has to be flexible to adapt to a changing environment.”