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The role of accounting
Importance of accounting professional ethics
Importance of professional ethics in accounting
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We are living in the era of internationalization and the each country’s economy is connected to each other forming a very large economy. Thus the demand for people in business is getting bigger and bigger. Every day, more and more students choose to study business courses in universities. There are lots of majors in business and among these majors; accounting is called the language of business. The language makes you able to communicate with other people and accounting serves as the method of communicating business information.
But, what really is accounting? There won’t be enough space to write all the things that explains accounting. Instead it can be written as the action or process of keeping financial accounts. The American Accounting Association defines it as "the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information."
Like all the jobs in the world, there are critical points that make successful accountant. The very basic thing an accountant needs is honest and integrity. According t...
Clients want accountants with integrity. Thus, integrity is critical to the public trust. As a matter of fact, one of the general definitions of integrity provided by the AICPA Code is that it is a quality from which the public trust derives. Also, it is an element of character fundamental to professional recognition, and it requires members to be (among other things) honest and candid within the constraints of confidentiality (Duska, Duska & Ragatz, 2011).
John Cage has always been known as a controversial and new age composer. Some say that his pieces lack the very structure that makeup classic forms. I argue that John Cage’s work Living Room Music, despite instrumentation with no set pitch, has conclusive harmonies and is in the style of a Baroque suite. This is a strange concept for some because pitch has become such a focal point around harmonic analysis when in reality it can be determined simply by ensemble texture and dominate features.
Accounting is basically a service activity. Its purpose is to provide quantitative information that principally used by the managers, investors, tax authorities, and other decision makers to make the financial decisions within companies, organizations, and public agencies. Accounting is also widely known as the “language of business.” An accountant measures, communicates, and interprets financial activities. They prepare financial statements or reports for individuals, businesses, government agencies, or other non-profit organizations. They use the accounting systems to categorize the expenses and income to the typical groups. They also keep tract of the money received or paid out to see if the transactions are accurate and complete. Accountants are familiar with the computer operation. They use the computer...
Managerial accounting has changed over the years. Managerial accounting focuses on more than the financial aspect. We will be looking at how managerial accounting affects the business world today. Business also look to the economy, federal taxes, and the financial market so it can make the best decisions for their business.
During my college years, the hardest choice I had to make was deciding on a major and choosing a career path. When I came to OCC I knew I loved business but I was also curious about accounting. I found that the business degree with a concentration in accounting was the program for me. It’s the one degree that gives me the strong foundation to get me into the business world and having the accounting minor gives me the tools I need to succeed. The reason accounting may be one of the best degrees to a successful business career is because accounting has always been considered as the language of business. Accounting is defined as the information system that measures business activities, processes information into reports, and communicates the results
The American Association of Public Accountants first implemented ethical rules in 1905. Since then, accounting ethics has been heavily scrutinized. It has been said "that the relationship between personal values, codes of conduct and decisions to engage in financial misrepresentation are 'weak at best'" (Douglas, Davidson, & Schwartz, 2001), p. 101). It is essential for Accountants to make ethical decisions. In order to promote ethical decision making, it is vital that profession develop a strong ethical environment. The purpose of this paper is to look at two of the main ethical theories as they relate to the accounting profession. Specifically this paper will give a detailed description of utilitarianism and deontology. The organizational culture and the American Institute of Certified Public Accountants code of professional conduct will then be looked at from the context of the two ethical theories. Finally, I will present the ethics system I believe is most appropriate for the accounting profession.
“Behind every good business is a great accountant.” Considered by many to be language of business, accounting in all reality is a vague term. They are many types of accounting each with its own certifications and requirements. They are three main types of accountants first is the public accountant or CPA. This is a person who works for a public accounting firm, whose job is to go and evaluate the status of a company through auditing financial statements. Next, is a cooperate accountant. In cooperate accounting an accountant works inside a major cooperation, for example Ford or Chevy, and evaluates the status of the company through creation and analysis of the financial statements. Finally are tax accountants, who focus on studying the tax code
Accounting is the pillar of every company to measure its growth, loss, revenue , capital, its really specify the real terms in foam of figures and sometimes in tables, in accounting there are certain rules are obtained to make more accuracy while playing with figures.
Accounting is the process of work where an accountant or account related personnel keeps the company’s financial accounts. The process of work includes recording, storing, sorting, retrieving, summarizing and presenting in financial reports. The purpose of accounting is to provide information that is needed for making of economic decisions and to help in defining the financial position of a company. Accounting is very important to a company.
An accountant makes sure that the Nation’s firms are run efficiently, the public records are kept accurately, and that taxes are paid properly and on time (“Accountants and Auditors”). Accounting is the study of how a business tracks their income, assets, expenses, and many other things for a period of time. They also do many other things like quality management, tax strategy, and health care benefits management (“Welcome to Careers in Accounting”). An accountant is crucial to the success of a business, without one the business tends to fail.
The accounting cycle is a series of steps starting with recording business transactions and leading up to the preparation of financial statements. This financial process demonstrates the purpose of financial accounting–to create useful financial information in the form of general-purpose financial statements. In other words, the sole purpose of recording transactions and keeping track of expenses and revenues is turn this data into meaning financial information by presenting it in the form of a balance sheet, income statement, statement of owner’s equity, and statement of cash flows.
Accounting is the action or process of keeping financial accounts. I wanted to major in accounting because I think it will bring a lot of success into to my life and since I am involved in accounting daily, I picked it to be my activity system. In an activity system there are six vital components which are subjects, tools, motives, rules, community, and division of labor. The job opportunities that are available and the information it provides to you as a regular citizen is simply amazing. Every American needs to have some sort of financial stability in their life and that is why accounting is such a great degree to have.
Accounting itself is a system that people has been using for thousands of years, the system records financial information about a person or business, businesses use it in order to be able to keep and track their financial accounts and other financial information in a safe and efficient way. (Brooks, 2012)
Accounting aids the government and organisations in decision making for their financial stability. This numerical data helps solve real life problems and contributes to how the economy and businesses perform.
Accounting is so important in our modern society. It serves a variety range of place in our society. It serves a variety range of place in our soceity, from school to hospital, from business firm to government agencies. It's also the main force in regulation of taxation and industrial activity. It serves a great aspects on the development of mass-production systems, any way, it's a very important term in our modern soceity.