ASSIGNMENT NO: 1

SUBMITTED BY GULRUKH
CU ID 3083-2022
SUBMITTED TO MA’AM SANA IRSHAD
DEPTT ACCOUNTING AND FINANCE
SEMESTER THIRD

Sociology Role In Accounting And Finance Field:

In accounting and finance, the main goal of sociology is to give information about employee
behavior and organizational composition. Sociology give every little bit information about
culture. Different cultural information can be helpful to policymakers in the accounting and
finance fields. With this knowledge, policymakers can more easily create rules and regulations
that apply globally. By studying sociology, the financial institutions can determine the economic
inequality, so by knowing this problem they can fix the problem to avoid any type of conflict
arises within the organization workers or managers or assistant, any other staff. Sociology play
a wide role in accounting and finance in several ways.
1. With the help of sociology, we can easily judge and understand the behavior of the
workers, those who working in the organization. And this information is necessary in
accounting and finance field to clarify that how stakeholders, managers, staff member
and others make financial decisions. Behavior is very important factor in the
organization because in success of the organization this is really helpful. If there is
conflict between workers, then it can create problems in the organization and can hold
the organization success.
2. Sociology help in accounting and finance field to investigate the environmental and
social obligations of financial institutions and corporations. It can stimulate corporate
social responsibility programs and offer insights into the social effects of accounting and
finance practices.
3. With the help of sociology, financial laws and policies are made by businesses.
Regulators can develop effective and acceptable policies by having a better
understanding of how society views financial organizations and practices.
4. Sociology help accountants and professionals to understand cultural differences.
Because of this knowledge they make rules and policies which is applied throughout the
world. And this knowledge is important when they are working with international
clients.
5. We Study Sociology to know the effects of economic inequality in the society. Because
in accounting and finance field we study the income and wealth. So by studying all the
perspectives, policymakers and organizations can find where the inequality actually
occur. By understanding the problems which is arises in the society due to unequal
distribution of income they find their solutions to fix these problems.