Ethics, Arbitration, Battle of the Forms

Accounting is the methodical and full recording of financial transactions relating to a business, and it also denotes to the procedure of briefing, examining and evaluating these transactions to cross checking agencies and tax collection agencies. Accounting is one of the key purposes for nearly any company. It may be done by an auditor and accountant at small businesses or by substantial finance subdivisions with lots of employee’s at

In the world of business, it is so obvious that Certified Public Accountants are playing an extremely important role to the public. Working as Certified Public Accountants, it is so special that they provide accounting professional services not to a specific person but to the whole public. Therefore, the ethics and conducts of the Certified Public Accountants becomes much more important because it affects the reasonable operation and successful development of the whole industry. So, as a professional accountant, we need take the duties that required by the AICPA code of ethics --- “professional competence, confidentiality, integrity, and objectivity".

Accounting is a product of many estimates and judgments. It is essentially a rear-view mirror, looking back at what has happened. To add to the problem the view changes with each new accounting period.

The purpose of accounting is to provide the information that needed to make sound economic decisions. It is one of the oldest professions in the world today, and the backbone of any business operation. It is not just about numbers, accounting is about planning. Accounting has many subfields, which includes management accounting, financial accounting, and cost accounting. Accounting can be a prestigious career, but to achieve that prestige you will have pass the CPA (Certified Public Accountant) exam and become a licensed accountant, and with that license you can work in any of the subfields.

Accounting is a business discipline that allows companies to record, analyze, and retrieve critical financial information that can be used to determine a company 's financial status. Its purpose is to help people understand what is going on financially within an organization provide reports and insights needed to make sound financial decisions.

Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions. These activities include computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial

Accountants are relied upon to be trustworthy and maintain high ethical standards. It is because of the nature of the profession that puts them in a position of trust with people who rely on their professional judgment and guidance in making decisions. These decisions are extremely important in accounting and more so that companies that have high ethical standard or main good ethical culture spend enormous time to train the staffs about the conduct that is expected of them.

Accounting 22. A technique that establishes the rules and procedures to record, quantify, analyze and interpret economic events affecting the heritage of any economic organization or entity providing information useful, reliable, timely, and accurate which aims to ensure financial control.

The term accounting refers to the process of measuring recording summarizing and analyzing the information recorded in the ledger. This helps the company plan and control the activities of the

Does my behavior show that my decisions are based on a greater good? Since I understand the fact that doing good is far better than doing something bad, ethical thinking allows me to make decisions that will be right. Hopefully, this behavior will present or leave a positive impression. For example, by displaying a positive attitude, showing a willingness to help out, making sure my work is completed accurately and in a timely manner, rather than producing work that is inaccurate and late, will let others know that they can trust me, and count on me to be there to help out, on both a personal and professional level.

(Panza & Potthast, n.d.) Ethics is very important to a company’s success. Ethical behavior can bring benefits to a business. They can attract customers, which can lead to a boost in sales and profits. It can attract the right employees and increase productivity. It can also attract investors and keep the company’s share price high. Unethical behavior on the other hand can damage a company’s reputation and make it less appealing to stakeholders. It could also result in lower profits.

In this assignment paper, I would like to describe the meaning of accounting, how accounting

According to the Committee on Terminology of American Institute of Certified Public Accountants (AICPA), “Accounting is the art of recording, classifying and

Ethics is a term that refers to a code or moral system that provides criteria for evaluating right and wrong. Accounting ethics is a primarily a field of applied ethics, the study of moral values and judgments as they apply to accountancy and accounting ethics were first introduced by Luca Pacioli, and later expanded by government groups, professional organizations. Accounting has been deemed difficult to control as accountants and auditors must consider the interest of the public while ensuring that they remained employed by the company they are auditing. Knowledge regarding the information of ethics helps accountants and auditors to overcome ethical dilemmas. Sometimes the decisions made not be beneficial to the

Accounting is the language of business. It is a profession that is being guided by principles, concepts, conventions, laws, etc. All these fundamental building blocks serve as common and general compasses to all practitioners of the profession. In some cases, they are nation-wide tailored, while in other cases, they are universally tailored. Accounting as a living, practical, dynamic and realistic profession covers so many areas of social, economic (business), and governmental activities. Surely, any endeavour that involves monetary and material activities create a room for the services of Accounting. Many of the human endeavours for which the accounting profession plays significant (some times inevitable) roles include; Banking, Insurance, Manufacturing, Farming Contracting, Oil and Gas, Mining, Transportation (Air, Land and Sea), Educational Institutions, Churches, Ministries, ICT, Hire Purchase, Local Government Authorities, Estate Businesses, Export and Import Businesses, Bill of Exchange Transactions, Royalties Transactions, Consignment Transactions, Stock Market Transactions, Sports, Entertainment, Hospitals and Hospitality Industry, etc.