Why are professional ethics important?
How do you want your doctors, nurses, health providers, dentists, cooks, waiters to act toward you? Do you want them to treat you like a human being or something else—more like an object?Professional ethics establishes a baseline for common decency, respect, fairness, and integrity in given business area. They provide a basis for positive and shared expectations about the nature of products and services. I know that particular professionals have an ethical and motivated interest in caring about how they treat their customers and community.Professional ethics build trust and relationship between employee and customer. Professional ethics serve as the invisible glue for the community of entrepreneurs, leaders, and businesses.Thats why transactions happen faster in the US than elsewhere is because of the level of trust. Other places without the rule of law and without trust end up having a much harder job conducting business.Another spillover of bad ethics is bad Google, Yelp, and Angies List reviews, which in turn undermine business. Same happens on Amazon and Ebay and any other marketplace that uses a rating system for providers.For more reasons I suggest: Nathan Ketsdever's answer to What are some good, original arguments for virtue ethics?
What the difference between ethics in general and professional ethics?
Ethics in general are applicable to whole society. Every person living in the society should follow them to make the society a habitable place, in simple terms a good society. ex., respecting elders, helping someone cross the road, not to steal from anyone, help an accident victim by taking him to hospital etc. These are not our moral duties but ethical duties which we owe to society at large.Professional Ethics is a different ball game, they vary from profession to profession. They are a part of your job and helps you to maintain the credibility of your company as they help the company making an image for itself in market. At the time of training they hammer down those ethics in you. ex,. reaching office on time, not cheating or misleading your client. If you are working in a restaurant or hotel than a cardinal work ethic is “The guest is always right”, etc. In japan the average delay of the bullet train is less than a minute, they achieve this feat because of their work ethics (punctuality).One more thing every profession has its ethics, even thieves and contract killers, assassins have them, ex., they never divulge the information of their employer and once taken a job they always complete it.
What are some good thesis topics in accounting?
Writing a thesis paper on accounting is not always an easy thing. The main reason for this is because a lot of people tend to imagine accounting to be all about calculations and nothing else. However, there is so much more to it than meets the eye. The following are some interesting topics that you might want to look into in the event that you are struggling with finding one for your thesis:Discuss the importance of auditing to a firmHow do companies minimize on their tax liabilities while still ensuring profitabilityDiscuss emerging products in the financial marketsDefine and explain the role of the accounting information systemsIs managerial accounting mandatory or a complementary function?Explain how personal finances are affected by the recessionDescribe debt management and discuss the challenges associated with itOrganizational culture and its influence on accounting standards and procedureProblems that companies encounter with cash flowPayroll management systems and their role in the organizationBusiness investments that can shield accounting departments from turbulent timesDiscuss some financial instruments that can be used for futures directionConduct an analysis on managerial and financial accounting, noting down the similarities and differencesEthical considerations in cost accountingThe role of cost accounting in the organizationCost accounting system for a company you have worked in, or you are familiar withUse of software in cost accountingDealing with fixed and variable costs during turbulent timesCareer resources for accountantsDiscuss 5 accounting concepts and how they can be useful to normal average peopleTheoretically analyze liability accounting in a company you are familiar withDiscuss the importance of cost management during a recessionDiscuss the concept of life cycle cost analysis (LCCA)Explain the importance of the accrual concept of accounting, with relevant examplesDiscuss the importance of internal accounting procedure to global businessesShowcase with relevant examples, the functions of managerial accounting to an organizationDiscuss the impact of technology on accountingComputers will take over the work of accountants in the near future: DiscussDiscuss how to effectively adapt the international accounting standards relevant to your countryDoes the world need international accounting standards or should every region work out its own?
Accounting question.?
Debit: Land (long term asset) for 90,000 Credit: Cash (short term asset) for 10,000 Credit: Note Payable - Land (long term liability) for 80,000 You are adding the entire asset to your books therefore you are increasing the "Land" asset account by debiting it for $90,000 (the full value of the land). You are decreasing cash by crediting it for the amount paid in cash which is $10,000. And finally you are increasing a liability (Note Payable - Land) by crediting $80,000 which is the amount you owe. As the amount owed is paid (possibly periodically) you will be posting the following transaction: Assume the payment is $10,000 each month: Debit: Note Payable - Land for $10,000 Credit: Cash for $10,000 You post these entries each month (8 months in total) until the liability is completely cleared out of the books. I am an accountant. This is a very basic transaction. 100% positive this is corret.... 99.99% postive this is what your teacher wants. You know teacher even they don't know what they want sometimes. Hope I could be of your help! :)
Why is ethics important in accounting?
Finance and accounting are the lifeline of companies. Corporations are formed with one goal - to make money; that's it, so money and finance and proper recording of transactions is what keeps a company going.With respect to ethics, it's an integral part of the accounting profession - if a gatekeeper, the recorder of transactions allows lapses in judgement, there is nothing to be trusted about the operations of the company: contracts will be questioned, valuations will be inaccurate, revenues will be shady, and expenses cannot be compared to anything in existence.The company is as good as gone.To put it more eloquently (Accounting ethics):The nature of the work carried out by accountants and auditors requires a high level of ethics. Shareholders, potential shareholders, and other users of the financial statements rely heavily on the yearly financial statements of a company as they can use this information to make an informed decision about investment.[4] They rely on the opinion of the accountants who prepared the statements, as well as the auditors that verified it, to present a true and fair view of the company.[5] Knowledge of ethics can help accountants and auditors to overcome ethical dilemmas, allowing for the right choice that, although it may not benefit the company, will benefit the public who relies on the accountant/auditor's reporting.[6]Most countries have differing focuses on enforcing accounting laws. In Germany, accounting legislation is governed by "tax law"; in Sweden, by "accounting law"; and in the United Kingdom, by the "company law". In addition, countries have their own organizations which regulate accounting. For example, Sweden has the Bokföringsnämden (BFN - Accounting Standards Board), Spain the Instituto de Comtabilidad y Auditoria de Cuentas (ICAC), and the United States the Financial Accounting Standards Board (FASB).[7]