Ethics And Ethics In Accounting

Introduction

An accountant is the backbone for each business and they are the greatest asset to the running, day to day legality and future success of any business. Accountants are qualified and specialist of accounting that led all the business daily transactions and entries. Nowadays the accountant playing the biggest role in managing and making decision in firms in fact either small or big business need to have accountant to avoid any losses and flow with right direction by using accounting systems. Accounting is a systematic recording the financial statements for each business in a specific way. There is more than one way to show and provide a figure of the performance, financial position and cash flow of the business.

Background

The history

The implementation of the function is based on giving advice to the company, its divisions and employees on matters of law and legal protection. There will be a lot of legal issues which require qualified advice from lawyers and legal Advisors. This is about giving advice for resolving such issues in almost all the departments and divisions of a company.

As accountant ethics and integrity is main important theme in the accounting field. Working in accounting department means that all accountants are fully responsible for each work they produce and the report they give to their managers that shows the financial statement for each period. Accountants should follow the law and the basics of accounting ethics and their function, to avoid legal and financial trouble and be legally defensible in case the auditor comes to check the accounts that had been entered in the system and check if the accountant are following the ethics procedures and working legally. If the business didn’t hire a professional accountant who collect and presents data in the clearest and most accurate way possible to show it to the government if needed. “My accounts, which I can swear to have kept faithfully, I have, indeed, never got audited, still less accepted, still less paid and settled” (Previts, 1976). These quote show that accountants are honest in following their morals and

Planning directs an organization 's strategic and long term goals; supports organizational reviews to identify strengths and weaknesses and to evaluate operational effectiveness; and it gives advice for recommendations based on emerging trends, expansion opportunities and internal business process improvement. Accounting are one of the departments that run the business. They prepare or review budgets for expenditures and income, resolve accounting entries and manage monthly closing activities for the businesses for future planning. They do this to know the budget limit and the expected profit for certain