as CPAs. State Boards of Accountancy 2. Promulgate GAAP. Securities & Exchange Commission (SEC)‚ American Institute of Certified Public Accountants (AICPA)‚ Financial Accounting Standards Board (FASB) & Government Accounting Standards Board (GASB). There is also some influence from the American Accounting Association‚ Institute of Management Accountants & the Financial Executives Institute for business and not-for-profit entities. The Government Finance Officers Associate exerts some influence
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Accounting has been around since the beginning of civilization. ¡§Accountants participated in the development of cities‚ trade‚ and the concepts of wealth and numbers.¡¨ (Giroux) The importance of accounting cannot be overemphasized. Equally important are the standards used to guild the application of accounting practice. Without principles and standards‚ financial reporting would not fairly present the financial position of a company. Accounting has changed and evolved vastly over time and continues
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ACC 3401 Audit and Professional Ethics │LECTURE 1│ Concepts of Auditing Learning Objectives After the lecture‚ students should be able to: describe the nature‚ purpose and scope of an audit; describe various basic principles and concepts of auditing and explain their importance in the actual audit procedures; and describe the professional framework within which auditors must operate. 1. Accounting vs. Auditing Accounting - the process of recording‚ classifying‚ summarizing and
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The purpose of this essay is to discuss and explain how particular software products have improved accounting through the importance of spreadsheet for any accountant‚ then how the accounting has changed in inventory control‚ sales including point of sales‚ and finally‚ keeping accounting documents. It might be impossible to find an accountant who does not use spreadsheet in every day work. Page mentioned that there was a need for a high-cost software in the pre-spreadsheet time to deal with finance
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Ten-year Plan Personal Plan Wu Jiachun Class Two Ningbo University of Technology May 18‚ 2012 TABLE OF CONTENTS 1. Self-assessment ･････････････････････････････････････････････････ 1 2. Objectives ･････････････････････････････････････････････････････ 3 3. Step to achieve the goal ･･････････････････････････････････････････ 3 4. Budget ･･･････････････････････････････････････････････････････ 5 5. Feasibility analysis ･･････････････････････････････････････････････
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will have 4-year degree in accounting and will be able to find a job as an accountant. My long-term goal of being a CPA (certified public accountant) will be closely in reach after working as an accountant for at least 2000 hours. So my medium range goal is to be done with my 4-year degree and starting to work as an accountant. Finally my long-term goal (beyond five years) is to become the most elite level of an accountant‚ a CPA. To attain this goal I will have to do two main tasks. Just like I
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records. They ensure that financial records are accurate and that taxes are paid properly and on time. Auditors asses financial operations and work to help ensure the organizations run efficiently. http://www.bls.gov/ooh/business-and-financial /accountants-and auditors.htm “Also‚ auditors inspect accounting systems and account books for efficient use as well as the use of accepted accounting procedures‚ and organize and maintain all personal and business financial record. Furthermore‚ auditors assess
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importance placed on the client within two “Big 5” professional service firms. It looks at how important the client is‚ particularly to trainee accountants in how they shape their professional identity and behaviour within the company. Finally‚ it considers how the importance placed on the client has both “controlling and restrictive impacts” (p1153) on trainee accountants‚ (Eg.‚ what is expected of them in terms of working to deadlines‚ how it affects their family life etc.) Literature/Theory on which
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and understood that what they were doing was wrong. These decisions not only effect the specific accountant‚ but it also effects the entire accounting community‚ the corporation‚ and most importantly the public whose interest an accountant is supposed to consider first and foremost. Myers’ actions led to the uncovering of a huge fraud scandal within the WorldCom community that hugely impacted accountants for years to come. Question 4 It is not necessarily fair/appropriate for federal law
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Certified Public Accountant profession in Germany – Wirtschaftsprüfer CPA is the american title for the profession as an auditor. In Germany it’s called Wirtschaftsprüfer and is one of the most coveted professions but has also the hardest state examinations. How to become a CPA in Germany? Becoming a CPA is a long way in Germany. The candidate needs to meet several requirements to get admission to the state exam‚ even personal ones. Requirements: • First of all the person needs
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