AICPA Code of Professional Conduct The American Institute of Certified Public Accountants (AICPA) is a group of CPAs that span across the globe. Its members are all volunteers and consist of over 350‚000 people. Most of their debates and discussions are how accountants should handle certain professional issues. There are six principles within the AICPA code of professional conduct; responsibilities; public interest; integrity; objectivity and independence; due care; and scope and nature of services
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AICPA Code of Professional Conduct Composition‚ Applicability and Compliance The Code of Professional Conduct of the American Institute of Certified Public Accountants consists of two sections—(1) the Principles and (2) the Rules. The Principles provide the framework for the Rules‚ which govern the performance of professional services by members. The Council of the American Institute of CPAs is authorized to designate bodies to promulgate technical standards under the Rules‚ and the Bylaws
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Chapter 1 Significance of Accounting Information Systems and the Accountant’s Role MULTIPLE CHOICE QUESTIONS 1. Which of the following is not accounting information? A. Total direct/indirect labor hours B. Delivery equipment cost C. Computer training schedule D. Next year’s sales budget C 2. In what terms can accounting information be expressed? A. Units‚ percentages‚ and money B. Money‚ ratios‚ and text C. Money‚ percentages‚ and text D. Units‚ percentages‚ and text A 3. Which of the following
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Instructor’s Name The American Institute of Certified Public Accountants (AICPA) code of professional conduct has more than 350‚000 certified public accountants belonging to the association. Since the majority of them belong to the association‚ the AICPA code of professional conduct is often used to discuss the ethical obligations in accounting. “There are six principles that make up the AICPA code‚ which include: responsibilities‚ the public interest‚ integrity‚ objectivity and independence
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who do not think in advance of their future and do not plan their course of action are liable to fail in life. The career I choose is to be a Certified Public Accountant but there is a lot of research beside my decision which answers why I want to become a CPA and how I can become a CPA. “Never call an accountant a credit to his profession; a good accountant is a debit to his profession” (Charles Lyell). Accountancy is one of the most respected careers and CAP’s are considered as one of the highest
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Question 1-23 (Organizations associated with the public accounting profession) Several private and public sector organizations are associated with the profession. Listed below are activities pertaining to these organizations. 1. License individuals to practice as CPAs. State Boards of Accountancy 3. Issue Statements on Auditing Standards. Auditing Standards Board (ASB) 4. Regulate the distribution and trading of securities offered for public sale. Securities and Exchange Commission (SEC)
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Accounting One of the major careers being practiced today is accountancy. Thousands of people are completing their degrees in accounting because there seems to be a bright future for accountants with the appropriate qualifications. Accountants‚ in their career‚ help ensure that the organizations are running more efficiently‚ public records are kept more accurately‚ and taxes are paid properly and on time. They perform important functions by offering a wide volume of business and accounting services to their
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just crunching numbers. There are many types of accountants‚ covering a wide range of the business world‚ becoming an accountant opens a wide range of career opportunities. I want to become an accountant because it’s something that I’m familiar with since I prepare tax returns. Math has always been my favorite subject I enjoy working with numbers. Accountants help to ensure that firms run efficiently‚ taxes are paid properly and on time and public records are kept accurately. They analyze financial
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for accounting degrees awarded. Now is a great time to join the accounting field. Three careers that that showcase the accounting field include CPA (Certified Public Accountant)‚ Budget Analyst‚ and a Tax accountant. Table 1 (Scott‚ 2013) Certified Public Accountant A career option you could choose is a Certified Public Accountant or CPA. This career option has many responsibilities. The first of them being financial planning and consulting. CPAs should be proficient in providing
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Rules of Professional 2 This research paper is on Rules of Professional Ethics and Conduct of the American Institute of Certified Public Accountants. They will be four cases that will be discussed for violation for the following rules. They are Rule 102 – Integrity and Objectivity‚ Rule 201 – Professional Competence‚ Rule 202 – Compliance with Standards‚ and Rule 501- Acts Discreditable
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