Accounting as a job serves as the financial backbone of a business for it deals with money and its primary task is to record and analyze financial information. It includes the keeping of financial records and assurance that the records are accurate which makes it as a detail- oriented work. Gibson, Hutchinson, Homrigh and Leung (2011) claims that corporate scandals are widely known in the name of the business in which it cause extensive damages in the economy and society. These question the morality of businessmen in general and accountants in particular. With these duties and accountabilities, the concept of ethics is highly needed to be given emphasis in this 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
It makes financial information more accurate and more reliable. Q.1D, The Accountants Role within organisation: 1. Preparation and presentation of timely accurate financial/Management accounts to management to help management interpret the financial information. 2. An accountant may also be responsible for ensuring that all financial reporting deadlines are met, internally and externally.
An auditor supplies the independence and objectivity to a financial report complementing the high expectations of third party users The professional judgement required is influenced by some professional traits such as the auditor’s experience and capability of the auditors training. In additional to the professional traits influencing the auditor’s judgement, the auditors is also influenced by behavioural and ethical traits. Auditors have a responsibly to ensure that ethical standards are upheld, ensuring the social exceptions of auditors
Professional conduct A professional accountant should comply with relevant laws and regulations and must avoid actions that may discredit the profession 3. Principle of the ethics of the profession, according to IAI Ethical principles in the code of ethics of the profession Accountant Ties Indonesia stated professional recognition will of her responsibilities to the public, service users, and his accountant. These principles guide the members in fulfilling his professional responsibility and is a cornerstone of the basic ethical and professional behavior is behavior. This principle is asking for a commitment to behave honorably, even with the sacrifice of personal advantage. Ethical principles endorsed by the Congress and applicable to all
The duties of financial including financial reporting, cooperate finance, business assurance and taxation. There is few conditions to determine whether recruit or not. First of all, talk about character, whether auditing or accounting, the work is drilling in the digital pile, there is not enough patience is not done. Therefore, not afraid of nausea, more tolerate of applicant is more suitable for accountants. In addiction, the accountant have to face the complicated accounts and accounting, it has a good organizational and analytical capabilities, as well as the applicant in a more rational way is more suitable.
Considering that accountants deal with the center of companies and organizations accountants owe a fiduciary responsibility to act professionally and in the best passions of their employers. Knowing the basics of professionalism in accounting is important part of accounting education. Ethical business techniques are an inseparable element of professionalism in accounting. Operating with money and financial reporting generates several chances for unethical behaviors, such as theft and fraud. Even though government organizations regularly work to identify and address areas of ethical concern in accounting, all accountants have an obligation to act ethically regardless of what doubtful behaviors the law may allow.
The names of those persons who were in charge of performance are also conveyed, so that the responsibility may be fixed. (ii) Importance of Responsibility Accounting Responsibility accounting is important for the following reasons: • It establishes a sound system of cost control. • It makes the staff cost conscious. • It is framed as per the needs of the an organisation • It is possible to compare the actual performance with the set standards. • It leads to the effective delegation of authority.
The accountant’s job also includes the assessment of financial operations and the analysis of financial documents for accuracy. Both of these things require strong analytical skills. Interpersonal Skills Accountants and auditors are required to interact with clients and managers; therefore, they should be able to discuss their work both in meetings and via written reports. Mathematical Skills Computers have eliminated much of the mathematical work involved in accounting; however, accountants are still called upon to analyze and interpret figures. Organizational Skills Accountants will need strong organizational skills since they may be working with multiple financial documents for various clients.
It also talks about the impact of laws and regulations that have provisions with direct effect on the financial statements. The responsibility of management with the oversight of those charged with governance to ensure that the entity’s operations are conducted in accordance with the laws and regulations. In addition, this article also talks about the Auditor’s responsibility in identifying material misstatement of the financial statements due to noncompliance with laws and regulations. It is the auditor’s responsible for obtaining reasonable assurance that the financial statements as a whole are free from material misstatement, whether caused by fraud or error. The authors used research methods including their knowledge, experience, and their understanding of the rules and regulations of the auditing and accounting profession.