Ethics In Accounting And The Accounting Profession
ETHICS IN ACCOUNTING
Presented by:
Rojina Sapkota
Abhilasha Thapa
Pooja Shah
Sandeep Gautam
Mendhala Lama Gurung
AND
THE ACCOUNTING
PROFESSION
What is ETHICS?
-All about making right choices and producing good behavior
What is ETHICS in ACCOUNTING?
-Being responsible enough to behave as a TRUSTWORTHY accountant.
ROLE/IMPORTANCE OF
ETHICS IN ACCOUNTING
To provide true knowledge of the financial transactions taking place.
To ensure correct decision making
.
WHAT IS AN ETHICAL DILEMMA?
-A situation where it is difficult to choose between the equivalent choices.
WHAT IS ETHICAL DILEMMA IN
ACCOUNTING?
-Refers to when the usual accounting processes don’t resolve an accounting issue.
MORAL AND SOCIAL
CONTEXT OF ETHICAL
BEHAVIOR
• All decisions have a social and moral side to it
• They will affect some or all stakeholders PROCESS OF MAKING AN
ETHICAL DECISION
Analysis
• Identify the ethical dilemma
• Clash in accounting principles; no
GAAP to follow
Identificati on • Evaluate the key elements of the dilemma • Analyze the impact of different alternatives on the affected parties
• Select the most ethical alternative after considering all the aspects and their effects
Resolution
ACCOUNTANTS AND
ETHICAL JUDGMENTS
The work of an accountant is anything but easy
Subjective decisions need to be made
Have a serious responsibility
Hence called as professionals
THE ACCOUNTING
PROFESSION
The accounting profession is collectively, the professional bodies of accountants that establish & regulate trainings, entry standard & professional examinations as well as ethical & technical rules & guidelines. EMPLOYMENT BY PRIVATE
BUSINESS
Accountants perform a number of important functions for private organizations. The controller, the treasurer
& the director of internal auditing directly reports to the chief financial officer.
Chief Financial
Officer
Controller
Treasurer
Director of Internal
Auditing
EMPLOYMENT BY NONBUSINESS ENTITIES
A need for
Presented by:
Rojina Sapkota
Abhilasha Thapa
Pooja Shah
Sandeep Gautam
Mendhala Lama Gurung
AND
THE ACCOUNTING
PROFESSION
What is ETHICS?
-All about making right choices and producing good behavior
What is ETHICS in ACCOUNTING?
-Being responsible enough to behave as a TRUSTWORTHY accountant.
ROLE/IMPORTANCE OF
ETHICS IN ACCOUNTING
To provide true knowledge of the financial transactions taking place.
To ensure correct decision making
.
WHAT IS AN ETHICAL DILEMMA?
-A situation where it is difficult to choose between the equivalent choices.
WHAT IS ETHICAL DILEMMA IN
ACCOUNTING?
-Refers to when the usual accounting processes don’t resolve an accounting issue.
MORAL AND SOCIAL
CONTEXT OF ETHICAL
BEHAVIOR
• All decisions have a social and moral side to it
• They will affect some or all stakeholders PROCESS OF MAKING AN
ETHICAL DECISION
Analysis
• Identify the ethical dilemma
• Clash in accounting principles; no
GAAP to follow
Identificati on • Evaluate the key elements of the dilemma • Analyze the impact of different alternatives on the affected parties
• Select the most ethical alternative after considering all the aspects and their effects
Resolution
ACCOUNTANTS AND
ETHICAL JUDGMENTS
The work of an accountant is anything but easy
Subjective decisions need to be made
Have a serious responsibility
Hence called as professionals
THE ACCOUNTING
PROFESSION
The accounting profession is collectively, the professional bodies of accountants that establish & regulate trainings, entry standard & professional examinations as well as ethical & technical rules & guidelines. EMPLOYMENT BY PRIVATE
BUSINESS
Accountants perform a number of important functions for private organizations. The controller, the treasurer
& the director of internal auditing directly reports to the chief financial officer.
Chief Financial
Officer
Controller
Treasurer
Director of Internal
Auditing
EMPLOYMENT BY NONBUSINESS ENTITIES
A need for