The Positive Effects of Accounting in the Community Essay Example
KAustin
The Positive Effects of Accounting in the Community Since I was a young teenager, I have always strived to become and succeed as an accountant. According to the American Institute of Certified Public Accountants (AICPA), accounting is defined as the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof. Numbers have a true or false identity with no middle ground to discuss. Around the world, accountants are known as money and number intelligent people that can sort through a company’s finances and correct any mistakes along those lines. From protecting the financial rights of an individual to a multi-billion dollar corporation, accounting is relevant to protecting and serving society. Accounting has a function in the service of the community. In the accounting world, auditing is a crucial job for the regulating of cash flow in and out of a business. An audit is an evaluation of a person, organization, system, process, enterprise, project or product. Auditing enables an accountant to look into the deep roots of a business to check for any mistakes or misconceptions that have occurred in a certain time frame. For instance, an accountant could be compared to a surgeon who performs surgery to find any disease or problem with the human body. Auditing creates reliability to a certain business’s financial information; as of late, auditing includes environmental concerns and security issues.
For example, Enron Corporation is a company that tried to get away with fraudulent financial information so that the leaders of the corporation could escape with no monetary loss. In 2001,
Enron created false claims that stated the financial status of the company was well under control and experiencing growth. However, the company was lying, and many people lost
The Positive Effects of Accounting in the Community Since I was a young teenager, I have always strived to become and succeed as an accountant. According to the American Institute of Certified Public Accountants (AICPA), accounting is defined as the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof. Numbers have a true or false identity with no middle ground to discuss. Around the world, accountants are known as money and number intelligent people that can sort through a company’s finances and correct any mistakes along those lines. From protecting the financial rights of an individual to a multi-billion dollar corporation, accounting is relevant to protecting and serving society. Accounting has a function in the service of the community. In the accounting world, auditing is a crucial job for the regulating of cash flow in and out of a business. An audit is an evaluation of a person, organization, system, process, enterprise, project or product. Auditing enables an accountant to look into the deep roots of a business to check for any mistakes or misconceptions that have occurred in a certain time frame. For instance, an accountant could be compared to a surgeon who performs surgery to find any disease or problem with the human body. Auditing creates reliability to a certain business’s financial information; as of late, auditing includes environmental concerns and security issues.
For example, Enron Corporation is a company that tried to get away with fraudulent financial information so that the leaders of the corporation could escape with no monetary loss. In 2001,
Enron created false claims that stated the financial status of the company was well under control and experiencing growth. However, the company was lying, and many people lost