Ethics In Accounting And The Accounting Profession

Topics: Accountant, Accountancy, Certified Public Accountant Pages: 5 (398 words) Published: June 4, 2015
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 accountants in non-business organizations,
such as hospitals, universities, and various branches of
the government
 Earning profit is not the main motive, but they must
have financial information to operate efficiently
 The works for an accountant in a non-business entity
and business entities are mostly similar

EMPLOYMENT IN PUBLIC
ACCOUNTING
• Public accounting firms are the firms of
accountants.
• Public accountants are also known as
EXTERNAL AUDITORS.
• Main task- Ensuring the fair presentation
of the financial statements.

SOME PUBLIC ACCOUNTING
FIRMS

DELOITTE

PwC

KPMG

ACCOUNTANTS IN
EDUCATION


Increase, in the demand of Accountants.



From two years of community colleges to
doctoral programs.



American Accounting Association

ACCOUNTING AS A CAREER


Different career paths.



Salaries depends upon various factors.

THE
END

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