Majors study a complex discipline concerned with and responsive to the changing economic, social, and legal institutionalarrangements necessary to the functioning of modern societies. The functions of accountants encompass ever-broadening spheres of activity. Transactions occurring between an economic entity – be it a family unit, small business firm, complex corporate organization, government organization, nonprofit organization, or national economy– and its environment constitute the raw materials of accounting. These must be converted by processes of classification and analysis to meaningful data so that their effects on the entity being subjected to the accounting process may be measured, interpreted, and communicated.