The Emerging Need for E-Commerce Accepted Practice (ECAP)

Abstract

With the rapid expansion of the Internet and constant technological advances, it is clear that e-commerce will reshape methods of the business world. Government, large corporations, medium and small business now have to conduct their electronic activities in an accountable, transparent and well-structured way. Unlike traditional business recording, such as accounting, with Generally Accepted Accounting Practice (GAAP), no guidelines or frameworks exist that recognize e-commerce issues.