Accounting Exploration To most people being an accountant means sitting in an office crunching numbers all day and having little to no people skills. This could not be further from the truth. I have only recently decided that I would like to pursue a career in accounting after spending two years as a pre-medical student and realizing that I no longer had the desire to spend another ten years in school and residency programs. Accounting grabbed my attention because it does deal with a lot of numbers
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Introduction Situations often arise where accounting professionals are faced with ethical issues and dilemmas. Resolving these ethical issues can often be complicated due to the lack of guidance provided by the Code of Ethics for Professional Accountants. Ethical theories present frameworks to assist in the decision making process. The 6-Step Ethical Framework outlines an approach to take towards the ethical issues not addressed by the Code of Ethics. The 6-Step framework is demonstrated with
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important that you have a prompt and reliable communication system with the bank so that you keep your records accurate. Bank reconciliation is an essential part of the accounting system for a small business. During the process‚ the owner or the accountant compares the general ledger balance to the bank statement balance. Reconciliation allows the auditor to find accounting and bank errors. At the end of the process‚ the business owner can see the exact amount of cash available. Bank reconciliation
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Reaction Paper Asian and Global Crisis During the Asian and Global Crisis many of the criticisms are against accounting and accountants. In my further readings‚ I’ve read that during the Asian Crisis in 1997‚ where affected countries suffered severe setbacks in their economies and where development stagnated‚ the accountancy profession‚ including its standards‚ policies and levels of information disclosures‚ had played a role in the start of the crisis‚ and perhaps had even worsened it. Moreover
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represented 51.1% of the bookkeepers then employed (Business and Economics History‚ pg. 79). Out of these masses only 18265 women were later employed as accountants or auditors. Colleges in the past discouraged women from studying accounting courses (Lasseter‚ 1945). However the accounting profession has experienced large pool of female accountants in recent times. The fact remains‚ women are behind in terms of progression to senior positions as compared to their male counterparts. The accounting
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important in order to be a successful account that is looked up upon. This can be due to the fact that accountants work very closely with their clients and on a personal level too. There are a set of principles‚ or rules that accountants must follow in order to stay within the code of ethics. If one does not follow these guidelines‚ the penalties are crucial. In order to stay an ethical accountant‚ you should follow the principles which are integrity‚ objectivity‚ confidentiality‚ and professional
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and the company’s higher starting salary compared to the industry average. Fran sent her curriculum vitae to the company‚ and two weeks later she was invited to an interview with the chief accountant. She was surprised at the end of the interview to be offered the position of assistant cost accountant. Fran said she would like to think it over. Two weeks later‚ Fran had still not replied‚ so Rob telephoned her to ask if she was going to take the position. Although not totally convinced that she
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Process The system matches the fingerprint with the employee’s file and records the time-in and time-out. • Performance The system must produce accurate hours worked by the employee. • Controls The chief accountant must be the only person accessible in the chips of the biometrics. PAYROLL • Output The payroll system must produce a payroll summary every 15 days; and pay slip of the employees. • Input The system must
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corporations’‚ Asian AAA World Conference in Singapore‚ Singapore‚ viewed 2 April 2012‚ . Institute of Chartered Accountants in Australia 2011‚ Auditing Competency Standard for Registration as a Registered Company Auditor‚ Chartered Accountants‚ viewed 17 March 2012‚ . Institute of Chartered Accountants in Australia 2010‚ Quality review: past‚ present and future‚ Chartered Accountants‚ viewed 22 March 2012‚ Leung‚ P & Coram‚ P & Cooper‚ B 2011‚ edition 5th‚ pp. 131-144‚ Wiley‚ Milton Queensland‚
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November 13‚ 2011 Information technology has revolutionized the way accounting is done. Long gone is the time of manually entering numbers into big bulky ledgers and journal books. Technology has also taken away the stigma associated with accountants. They have long been considered “bean counters” and introverts. This is no longer the case since leaning over ledgers and adding numbers on a calculator all day is a thing of the past. People skills have emerged as an important part of the accounting
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