According to the datas that I have gathered, there are many types of regulations such as Conventions , Tax law , Inflation Theory , External Environment and Culture , The Role of Government . Accountancy is a profession, as described above, and its members and its professional institutes have the obligations outlined. Members of the accountancy profession contribute to their communities in a wide variety of different roles, and within a range of different organizations.Every profession is defined by the knowledge, skills, attitude and ethics of those in the profession. Regulation of a profession is a specific response to the need for certain standards to be met by the members of that profession. The need for and nature of such regulation is dependent on the specific profession and the market conditions in which it operates. Why we should have regulations for accounting ? As we know ,there are a number of reasons why regulation might be necessary to ensure that appropriate quality is provided in the market for accounting services. These include enforcement of ethical rules and technical standards and the need to represent non-contracting users of accounting services, such as investors , auditors and creditors. Also , Accounting rules are necessary in order to avoid unacceptable accounting practices and to improve the comparability of financial statements. This should give greater confidence in the integrity of financial statements. Furthermore , There are many advantages that accounting concepts have on financial statements .Seven important accounting concepts that the preparation of any sets of account one of which is going concern that help an account to assume for any further problems that occur in a business. This help companies to make future plans and give them time to gather money to sort out any financial problems. Consistency also