course: (ACT611) Managerial Accounting: Information for Decision Making To Mr. Donald Smalling By Dalton Richardson 20031288 January 13th 2013 Overview of Code of Ethics for Accounting Professionals Accountants come face-to-face with several ethical issues on a daily basis. Deciding whether a company’s business practices and the actions of the principals or directors are ethical can be very difficult‚ but holding ethical standards is a fundamental part
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3.4 LEIGH ANN WALKER‚ STAFF ACCOUNTANT CASE Leigh Anit Walker graduated from a major state university in the spring of 1989 with a bachelor’s degree in accounting.1 During her college career‚ Walker earned a 3.9 grade point average and was involved in many extracurricular activities‚ including several student business organizations. Her closest friends often teased her about the busy schedule she maintained and the fact that she was‚ at times‚ a little too “intense.” During the fall of
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CHAPTER 4 Legal Liability Of CPAs Review Questions 4-1 There are several reasons why the potential legal liability of CPAs for professional "malpractice" exceeds that of physicians and other professionals. One reason is the vast number of people who may sustain damages. If a physician or attorney commits a serious error‚ the number of injured parties generally is limited to one individual patient or client. When a CPA’s report is in error‚ literally millions of investors
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As an undergraduate student at Indiana University‚ I hope to accomplish my goal of becoming a Certified Public Accountant by earning an undergraduate accounting degree from the Kelley School of Business. One of my goals while on campus is to live in the Kelley LLC so I can meet people with similar passions for business and accounting. I am an excellent and self-motivated high school student‚ and I expect this to continue into college. My main academic goals while I am at IU are to enroll in the Hutton
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The framework for the rules is provided by the principles while specific guidance regarding the performance of professional accountants working under the American Institute of Certified Public Accountants membership are highlighted by the rules. The principles of the American Institute of Certified Public Accountants are divided into six articles and a preamble. The role played the principles is articulated by the preamble. The preamble clearly states that the rules will
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July 2‚ 2012 Brandy Havens Code of Professional Conduct The American Institute of Certified Public Accountants Code of Professional Conducts purpose is to provide guidance and rules to all accountants in public practice. In my opinion‚ the Code of Professional Conduct is considered the foundation of ethical reasoning in accounting because every certified public accounting has an ethical obligation to the public to be responsible and honest with their work. In the following paragraph‚ I will discuss
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Every industry has a set of rules‚ or code of conduct‚ that guides it and establishes rules to prevent professionals‚ as much as possible‚ to be ethical and true to their work. In the accounting world the AICPA‚ The American Institute of Certified Public Accountants‚ Code of Professional Conduct is considered to be the foundation of ethical reasoning in accounting. This is so because it is a code that has been established and agreed to by members of the AICPA. The key importance to this is that it’s
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evaluate the organization’s operations. To carry out these interpretations of financial information a public or private accountant is able to do this. To become a public accountant you must earn your CPA (certified public accountant) by passing a test and means you are certified by the state in which you provide accounting services where you reside. This means that you are‚ as a certified public accountant‚ able to express‚ officially‚ an unbiased opinion regarding the accuracy of the client’s financial
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is no easy task; however‚ earning and maintaining your certification can increase your chances for advancement and promotion‚ enhance your reputation among colleagues and within the profession‚ and result in salaries that are higher than your non-certified peers as long as you remain ethical. The Profession of Accounting When most people go to college they think of what major would be the most interesting‚ and most exciting. However there are a few brave souls who want to learn the language
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American Institute of Certified Public Accountants (AICPA) as James Checksfield was serving as Creve Couer’s CPA. However‚ the professional standards set for accountants by the Institute of Management Accountants (IMA) and the AICPA share close similarities. Both organizations emphasize that accountants follow a code of ethics when performing their duties. The members must use these ethical principles when engaging in accounting services for their company and the general public. The organizations note
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