my Accounting and A for Mathematics but I didn’t get the chance to enter public university. After SPM‚ it is important for student to decide which path to go for their future. I choose to study in accountancy and become a professional accountant. My father decided to send me to Taylor’s University to continue my
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individual not the relationship. Professional accountants can maintain the support of the public while giving tax advice by understanding the difference between the expectations of the general public and the clients. The general public expects the professional accountants to adhere to the highest ethical standards while the client expects loyalty and reasonable level of service for their fees. It is‚ however‚ the job of the professional accountant to define these expectations and help close the
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manner in which the day-to-day financial activities of a business entity are gathered and recorded. A firm’s accounting practice refers to the method by which its accounting policies are implemented and adhered to on a routine basis‚ typically by an accountant and/or auditor or a team of accounting professionals. In another context‚ an accounting practice is intended to enforce a firm’s accounting guidelines and policies. It exists as the daily recording of financial data that is important to the evaluation
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In the Board of Directors structure‚ no management accountant was appointed to advise the company on the cost implications of their expenditures. There was no budget guidelines to expenditures incurred. The up-coming financial advice proffered by the lone qualified accountant appointed only in 1990 was disregarded. A case in point was the statement attributed to one Senior Manager‚ berating the accounting profession‚ saying that accountants were not professional electronic engineers: “they know
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BUACC 2614 – Management Accounting 2 According to Martin and Steele (2010‚ p.13)‚ “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and development of appropriate skill sets in word and in deed. The commitment of both organisations to sustainability principles has been shown by their adoption of‚ and support
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Angeles office. Pointed out in the comment‚ professional accountants are responsible to choose the right alternative facing a white-or-black condition. It is their professional duty to protect the confidential information of their clients. As in the case of insider trading‚ a collection of an ill-gotten wealth at the expense of betraying the material non-public information of clients is totally unethical for London‚ a professional accountant to do. And in the certain case of insider trading‚ both
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importance of accounting ethics cannot be underestimated as it plays a vital role in the daily professional activities of an accountant. It is obvious that in the process of carrying out duties as a professional accountant‚ their will be various challenges as to whose interest is to be protected. In such a situation‚ if there are no ethics in place‚ it is possible for the accountant to act unprofessional. Origin and background of accounting ethics The history of accounting ethics can be
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perceived accountants to have lost their commitment to public service. The credibility of the profession is threatened when the ideals of integrity‚ independence‚ public service and ethical standards come under suspicion. Well-known scandals of one of the major leading accounting firms in the United States Arthur Andersen coupled with alleged unethical acts committed by Enron have arouse the conscious of the public and stakeholders as to the moral decline and unethical posture of public accountants unveiled
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Inkwell is a company‚ mainly owned by shareholders. The managing director own the most numbers of share‚ while both the sale director and the finance director own equal shares. 4.4 The three directors and the company accountant are the main decision makers in the company with the help of managers and supervisors. 4.5 The shop managers are responsible for their own staff by preparing rotas and ensuring adequate staff coverage for all of the opening
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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