Importance of Being Socially Responsible in Accounting

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Importance of Being Socially Responsible in Accounting

A Research Paper Presented to
Cluster School of Education, Arts and Sciences
Colegio de San Juan de Letran – Calamba
Calamba City, Laguna

In Partial Fulfillment
Of the Requirements for the course
ENG023– Communication Arts II

Margielyn Joy M. Alfaro
Ruby Anne T. Quejada

March 2012

CHAPTER I
Introduction

A. Background of the Study

Accounting is the language of business and is needed now more than ever before.  It is the backbone of all businesses and therefore is a very broad subject.  Today, there are more CEOs with degrees in accounting than any other area of study.  College students that are unsure which area of business they would like to study should seriously consider accounting.  Career opportunities associated with a degree in accounting are practically endless due to how broad the subject is.  Job opportunities include public accounting, government, private industry and forensic accounting.  There are also opportunities in tax preparation, cost management and even jobs with the FBI.  Accounting opportunities are not limited to the ones named above.   Another reason, college students should consider studying accounting is the condition of the economy.  Due to the recession that our economy is going through, many industries are cutting down on jobs.  One area of business that is still thriving is accounting.  Various businesses are realizing how important it is to cut down on costs to make their business more profitable during this time of economic crisis.  They also realize how important it is to have strict set of internal controls to make their business more efficient.  The only way to ensure that both of these can happen is through stringent accounting.  After reading this it should be no surprise that accounting jobs may be on the rise.  If you are a college student searching for a major it would seem wise to pursue a degree in accounting.  The opportunities that this degree can provide for you may be endless.  You may find yourself working for a large accounting firm or even owning your own private, small scale CPA Firm.  You may also become a CEO or a CFO of just about any company being that accounting is the backbone of business.  It is safe to say you can't go wrong with a degree in accounting.

Responsibility accounting enables accountability for financial results and outcomes to be allocated to individuals throughout the organization. The objective is to measure the result of each responsibility center.

This study focuses on fundamental responsibilities of an accountant, role of ethics, being socially aware in our economy.

This will also give emphasis to accounting ethics and responsibilities of an accountant. The accounting ethics has been considered as the focus in conducting research in responsibilities of an accountant because it sets as standards and duties.

B. Statement of the Problem

This study aims to answer this question:

1. What are the fundamental responsibilities of being an accountant?

C. Significance of the Study

Accounting, Finance and Management Researchers – This research paper would be able to help these researchers in conducting and improving their studies management which involves collecting and interpreting information and deciding what to do with it.

Accountants, managers and administrators in public and private sector organisations- Knowledge of study would guide these people in improving and maintaining proper ethics in performing business transactions in their fields.

Accounting and finance policy makers

Students of accounting and finance disciplines

D. Scope and Delimitation

This study focuses on importance of being responsible of the accountants not only on their fields but also on his/her environment and the people around.

Due to the time constraint,...
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