There are a few options if one is looking at going into the profession of accounting. A large portion of what career a person would like to go into will be based on what field they are interested or if they have a specific industry they would like to focus on. For anyone looking to go into accounting there are many different careers and each is unique in their own way, with a difference in schooling or certifications being a deciding factor for the person. There are many careers that have a focus on accounting. The most common is a general accountant. Primary duties include preparing and analyzing the accounting records for a business or individual. (O*Net Online Accountants, 2016) Additionally, accountants will generally prepare tax filings …show more content…
While many small businesses may do the day to day accounting they may still turn to a certified public accountant (CPA) when it comes to their year-end financials and their taxes. While some require little to no education outside of high school, payroll specialist or an accounting assistant, others look for the individual to have a bachelors in accounting, credit analysis manager. While still others can require a masters, such as a finance director. No matter what field an accountant decided to go into a few necessary skills are computer, mathematical, and various accounting software will be needed. (O*Net Online Accountants, 2016) Most areas also include a need to have interpersonal …show more content…
For accounting careers, a generalization of principles was created by the AICPA. There are six principles in their professional code of conduct. As the basis of those principles are the public interest, or knowing that a member will act in the best interests of the public. (Code of Conduct, 2015). Next is to act with integrity. Members should use integrity at all times. All members should use objectivity and be free of conflicts when conducting business. Additionally, all members should use due care in their career. Finally, all members should know the scope and nature of the services (Code of Conduct, 2015) they are going to be rendering in the course of their
This organization has been setting ethical standards and publishing the Code of Professional Conduct for the profession since the early 1900s. A Code of Professional Conduct is necessary for any profession to help maintain strict ethical standards. This organization is the basis of ethical reasoning in the accounting profession because of what the Code of Professional Conduct covers. The code is comprised of a preamble and six articles. The preamble and the six articles serve as a foundation to provide guidance and guidelines for accountants to overcome any emerging ethical issues with ease on a daily basis. The six articles’ purpose is to protect the public, investors, and creditors. The AICPA Code of Professional Conduct consists of: Responsibility, Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of
The four principles refer to as; fairness, freedom, commitment and discretion indicate high standards of moral and ethical conduct. Individual associates taking initiatives and following through completion portrays values of commitment towards self as well as to the company. As a result the associate is acting as strong role model and leads by example as he grows in his role.
Benevolence instructs the accountant to serve in the best interest of the public. It is described as the extent to which a trusty will want to do good to the trustor aside from an egocentric profit motive (Power Point Presentation 7, n.d.). From a utilitarian perspective, some actions may not be deemed worth the effort when there is a lack of profit to be obtained from the action. The AICPA Code of Professional Conduct is set up to establish professional norms and standards that discourages this type of behavior.
The duties of the job are dependent upon who one’s employer is. For public sector jobs, the local police could employ you. On a more national level, agencies such as the FBI, IRS, and SEC could all be employers. If employed by the FBI, one could work as in-house forensic accountant. They would provide valuable support by conducting analysis of the financials of businesses and individuals to seek out wrongdoing. Areas of investigation could include money laundering, embezzlement, fraudulent financial reporting and many more forms of white collar crime. The IRS hires individuals to be special agents and investigate financial crimes, with those who are CPA’s given a preference in the hiring process. Forensic accountants for the Securities and Exchange Commission work to ensure financial statements such as 10k’s are accurate and in accordance with GAAP standards (Bramwell, 2016). They could also provide legal advice in criminal cases in matters involving
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...
I strive to embody integrity in everything that I strive to do. This means that each and every one of my actions must encompass and demonstrate the values I possess, no matter what the context of the situation. Additionally adhere to high moral principles and professional standards put forth by the American Institute of Certified Public Accountants. Secondly, I believe that it is important to be honest and respectful. I desire to express truth in every written and spoken word. Presenting information in a fair and impartial way when it comes to performing accounting duties is necessary in a profession that serves the public interest. I believe that being respectful means showing consideration and thoughtfulness in my relationships with my fellow those that I come into contact with. This goes hand in hand in treating everyone from fami...
The Code of Ethics for professional accountants includes set of the rules and guidelines Mostly code of ethics can contain set of ideal professional conduct and acceptable behaviour as well as define unacceptable behaviour []. Main advantage of he code is that accountants can emphasis on the positive attitude and activities that may encourage an effective...
Ethical principles are collective standards of right and wrong. These ethical policies will set the standard of behavior that our company and employees should and should not engage in. These principles not only guide us in our decision making but they also establish the criteria by which our actions and decisions are judged by others.
The purpose of this document is to describe the nature, purpose and scope of accounting and it deliberately explains the details of each category in accounting. Accounting involves in preparing financial documents of an entity by analyzing, verifying, and reporting this records. It emphasizes its major characteristic role in field of banking and finance, with a mixture of supportive sub topics.
When I think of a financial manager, accountant quickly comes to mind. The role of accountant and financial manager are similar in several ways and often times they work closely together on various projects. The role of an Accountant is to ensure that their organization is run efficiently, make sure their records are accurate, and that their taxes are paid properly and on time. Accountants perform a broad range of accounting, auditing, tax, and consulting activities for their clients. They record and analyze the financial information of the companies for which they work. Other responsibilities include budgeting, performance evaluation, cost management, and asset management. “The role of the financial manager has expanded beyond traditional responsibilities related to company's finances. A financial manager, through his/her understanding of the company's financial health, the current market, and the goals of the company, helps set direction and guides decision making.” Financial managers perform several different task related to finance for their organization they normally oversee the preparation of financial reports, direct investment activities, and implement cash management strategies.
Accounting seizes my interest for a number of reasons. I possess strong analytical skills and always derive pleasure from working with numbers. Personally, these qualities helped decide that a future in accounting would be a great decision. The thought of becoming a professional offers a new level of excitement. In addition, there are many different positions and roles that an accountant can fill. Besides the financial rewards, accounting
Accountants are becoming a needed job in the business industry and play a very important role in the success of many businesses. This job usually requires at least a bachelor’s degree in accounting and sometimes even a CPA (Certified Public Accountant). There are many other things that are needed to be considered before choosing this career. The job environment, education, skills, and benefits are just some of the many things that need to be thought through before considering this career.
The career requirements vary from school to school. Although accounting education majorly requires an extreme concentration on Mathematics, business, economics, and finance (Nobes). Every profession has a set of standards that must be achieved educationally. Since I plan to shift and complete the program at Kennesaw State University, there are specific needs to enter the school. For instance, a letter of application with at least three references, a letter of good character from the home institution, and past academic transcripts from the previous institutions (Kennesaw State
The revenue/cost period-: Revenue and the cost period in accounting that the company get income from normal business activities. It’s referred to normal business income that the company got by selling their product and service.
Accounting is a very important term to our modern society. It is the career for men and women who at the start have their eyes set on top positions in industry, management, government, and general business. Accounting is a basic need of every businessman, from the operator of a filling station to the government of the United States. It's so important to our society. None of the business organization can operate without is. They are there-somewhere-in every business. In small business, people use pen, ink and skill keep the records. In large business, modern accounting machines are used to operate. Men and women are directing these machines in the accounting process. Wise businessmen enter business must have some accounting knowledge.