Accounting Profession Essays (Examples)

Accounting

This discussion contains research pertaining to the impact of cash-basis accounting on the distortion of the financial position and operating results of a business.

We began our discussion with a definition of cash base analysis. We concluded that this accounting tactic is used to examine cash and cash equivalents. This is done by separating cash flow transaction into one of three activities which include; operating, financing and investing activities.

Our investigation then explored why and how financial statements completed using cash-basis accounting can be distorted to present a misleading picture about the financial position and operating results of a company. Our investigation found that these distortions exist when accountants fail to provide a report of additional information that may not appear on the face of the financial statement. Additionally, we found that inconsistencies in the presentation of a financial statement can greatly influence the distortion of information that is…

Reference List

Financial Reporting under the Cash Basis of Accounting (2000) Standards Report International Federation of Accountants.

Live on the Lakeshore Financial Statements. (2003) Retrieved August 19, 2003 at http://aliveonthelakeshore.gospelcom.net/aotlfinancial03.pdf.

Navani, Vinay S. (2002) IRS eases cash-accounting rules for small businesses

Journal of Accountancy, Vol. 193

(5) Auditors and CPAs should consider several ways that the Sarbanes-Oxley Act and SEC implementation rules as a whole impact accountants and work closely with regulators to address these effects. (6) Public accounting firms need to reconsider external auditors' participation with their client's internal audit function and control structure. This reporting on the internal controls can be very useful and add value to the integrity and quality of the financial reporting process. However, management accepts full responsibility for the design and maintenance of the adequate and effective internal control system. (7) Auditors should advise their clients and make recommendations for the appropriate disclosures of financial information. A more timely, relevant, objective, and transparent financial reporting process should improve the quality, integrity, and reliability. (8) it is necessary to use more effective and objective audit procedures and related standards to improve audit efficiency. The role of independent auditors on financial statements…

Journal of Accountancy. 199(2) p. 74-75.

Rezaee, Z. (2004) Restoring public trust in the accounting profession by developing anti- fraud education, programs, and auditing Managerial Auditing Journal. 19(1): 134-148

Walker, D.M. (2005) Reclaiming public trust in the wake of recent corporate accountability failures International Journal of Disclosure and Governance 2(3):.. 264-271-279

Accounting report generation, tackling exercises and answering exams is vital, especially when testing the competency of each student. The accounting profession is a demanding course and requires accuracy in the presentation of information: almost all skills taught in class are implemented directly in the field. This analysis presents some findings in favor of three integral exams-based learning methodologies. The ideas are extracted from chapter twelve of "Effective Writing: A Handbook for Accountants" as written by May and May (2012). The first section focuses on essay exams, which may be handwritten, or in computer-generated documents whilst appreciating the importance of cognitive reasoning in responding to essay exams. The second section- professional exam- attempts to expose a handler into real accounting situations. In most cases, the handler will tackle similar assignments as those in a real company in the form of reports.

Main ideas

Essay Exam

This chapter commences with a clear…

References

May, C, & May, S. (2012). Effective Writing: A Handbook for Accountants. New York: Pearson Prentice Hall

The management accounting leads candidates into finance, risk management and even production management. hile CMA certification is not necessary to pursue a career in management accounting, it is recommended. The IMA claims that certified management accountants earn on average $25,000 more per year than non-certified peers (IMA, 2011).

As with the accounting profession in general, there is increased demand for management accountants. CMAs are in demand because of their ability to contribute to the profitability of businesses, and demand for CMAs is expected to grow in coming years. Because CMA job duties are less structured than those of financial accountants or auditors, CMAs enjoy greater career flexibility.

Both types of accounting positions are poised to enjoy significant growth. There is also a trend in business, particularly since Sarbanes-Oxley, of looking to accounting professionals to lead firms. More CEOs are coming from the accounting stream than ever before, which highlights the…

Works Cited:

Bureau of Labor Statistics. (2011). Occupation outlook handbook 2010-2011: Accountants and auditors. BLS. Retrieved March 20, 2011 from  http://www.bls.gov/oco/ocos001.htm 

IMAnet.org, various pages. (2011). Institute of Management Accountants. Retrieved March 20, 2011 from  http://www.imanet.org/ ima_home.aspx

Taub, S. (2003) Now playing: CFO as CEO. CFO Magazine. Retrieved March 20, 2011 from  http://www.cfo.com/article.cfm/3007934

Accounting Profession: New Scrutiny and esponsibilities

While many people treat the accounting profession as something which lacks glamour and prestige, ordinary civilians often don't realize how crucial the accounting profession is to the world at large. The accounting departments in major firms are often what provides a foundation for most companies to be able to do what they do and accomplish tasks as needed. Accountants are the ones who are able to keep track of all the finances that are going out vs. what is coming in. Given the "new normal" in the world of corporate finance in light of the more recent corporate scandals, the work that accountants do have a greater level of importance. Accountants are now under greater scrutiny and have greater levels of responsibility: the accounting departments in major firms are now seen as ethical watch-dogs.

The skills and knowledge required in being an accountant are…

References

Balassone, J. (2014). Ethical Meltdown: Red Flags for Directors. Retrieved from scu.edu:

 http://www.scu.edu/ethics/practicing/focusareas/business/red-flags.html 

Einhorn, W.M. (2003). Ethical Accounting Practices and the Pressures on CPAs.

Retrieved from nysscpa.com:

Accounting has been nothing if not a dynamic, global discipline over the last two decades. The role of the accountant has changed dramatically during that time and will continue to do so -- as will the nature of the challenges that the accounting profession faces"

Over the past twenty years, the modern business community has been faced with the challenges of globalization, the new predominance of technology in business affairs, and the creation of a service-based 'knowledge economy' versus a manufacturing-based one. The profession of accounting has had to adapt to this new environment. "Business internationalization and globalization has facilitated the transfer of capital and information across national borders, with economic power residing in holders of particular knowledge sets. Business and management location is becoming increasingly irrelevant and management and accounting work is becoming multidisciplinary" (Parker 2002).

Globalization has lead to more uniform regulations in accounting. Until recently, U.S. accountants…

References

GAAP'S Last Stand IFRS is no rumor -- welcome to the next phase of financial reporting.

2011. Periso. Accessed:

http://perisho.com/keeping-current/gaaps-last-stand-ifrs-is-no-rumor-welcome-to-the-next-phase-of-financial-reporting / [June 23, 2011]

Parker, Lee D. 2002. Reinventing the managerial accountant. Glasgow University.

They then proceed to detail their selected sample (76 NYSE firms that reported at least three annual losses in period's 1980-1985 and that reduced cash dividends. They then implemented various conditions to test their hypothesis that it is the troubled firm's aim to retain preservation of their company, rather than to make a bonus, that causes them to select a certain accountancy plan.

In section 2, the authors describe their methods used in selecting a sampled population and their bias controls. There is a great deal of numerical data, and the material is dense particularly when they elaborate on the earnings and cash flow performance of the various firms. Each unit is broken up into subunits. Scholarly tables condensed with data that for instance report accrual levels and changes for the 76 firms support their written text and the Tables are alluded to in the text. Statistical analysis of these…

References

DeAngelo, H. DeAngelo, L. & Skinner, DJ (1992) Accountign choice in troubled companies. Jour. Of Account. & Econ. 17, 113-143

Elliot, Barry & Elliot, Jamie: Financial accounting and reporting, Prentice Hall, London 2004

Gray SJ (1988) Towards a Theory of Cultural Influence on the Development of Accounting Systems Internationally Abacus, pp.1-15

http://folders.nottingham.edu.cn/staff/zalzae1/ATP/articles/Gray.pdf

It also publishes interpretations about certain rules.

WHEN AN ACCOUNTANT FAILS

The AICPA's Code of Professional Conduct is considered to be a binding agreement for every CPA in America.

As with other professions most accountants are ethical and honest in their dealings with their clients, however every so often a problem arises that must be disciplined. This can happen in a purposeful attempt to be deceitful, or it can happen by an error in judgment or an error in practice. egardless of how or why it happened a review is called for and a sanction or discipline course of action is decided upon (Badawi, 2002).

Most of the violations that occur are ethical dilemmas that are relatively easy to solve but some of the problems become quite in depth and resolution is more difficult to reach.

A study of conduct violations in a ten-year period produced the following result.

The…

References

Badawi, Ibrahim M.(2002) Accounting codes of conduct, violations and disciplinary actions. Review of Business; 1/1/2002;

Carey, J.L. The CPA Plans for the Future. New York, NY: AICPA, 1965.

Demski, J.S. And J. L Zimmerman.(2000) "On Research vs. Teaching: A Long-Term Perspective." Accounting Horizons

Accounting Careers

Accounting is a common function in virtually every organization, irrespective of size and industry/sector of operation. The function is generally concerned with documenting business transactions and preparing financial statements. The accounting field offers numerous career paths. These include financial accounting, managerial accounting, internal auditing, tax accounting, financial analysis, payroll clerking, and forensic accounting (Bureau of Labor Statistics [BLS], 2015; American Institute of Certified Public Accountants [AICPA], 2017). Though related, each of these careers is unique in its own way. A financial accountant is involved in making and receiving payments, recording transactions, and preparing financial statements. Closely related to financial accounting is managerial accounting. While a financial accountant prepares financial statements for use by outsiders such as shareholders and lenders, a managerial accountant prepares financial records for internal use. The work of a payroll clerk is to ensure employees are paid accurately and on time. The clerk prepares, processes,…

.....ethical for an employer to use social media information as a factor when considering whether to hire an employee? What about monitoring social networking activities of employees while on the job? Use ethical reasoning in answering these questions.

The wide-ranging use of social media in the workplace gives rise to serious moral and ethical concerns. Kantian ethics lays emphasis on the form of an action in ascertaining its morality. Kant insists on the Categorical Imperative. Kant implies that this ethical principle is the superlative and outright and proper test to morality, whereas imperative implies that from time to time one must command oneself to be moral and undertake the right thing, even and particularly when one's self-centeredness may be infringed by acting ethically (Mintz, 2015). As an overall moral rule, for an employer to impose into an employee's private life on social media devoid of consent or in a clandestine…

Accounting: Ethical Issues in Budgeting

What should an employee do when he or she discovers that there is an error in a projection?

Accounting professionals have a duty to observe high standards of conduct and integrity in order to uphold the reputation of the accounting profession. For instance, if an error occurs in sales projections, the accountant has a duty to correct the error immediately and inform the head of the department or manager of the company. Sales projections are crucial to a company's budget because they give an idea of the amount of revenue the company intends to generate in future. Since they help determine the health of the company, majority of the decisions the company makes will based on the projected figures. If an accountant chooses to conceal errors in the projections, therefore, wrong decisions will be made and the overall performance of the company will be affected…

Once I have finished college, I will look for a junior position at an accounting firm. With my accounting job experience and good achievements, I am confident that I have good prospects. Once I have been hired, I will prove myself by delivering an excellent service. My hope is that the firm that hires me will offer advancement opportunities, towards which I will then work.

Once I have about one or two years of experience, it is my aim to start learning what I can about getting my CPA license and starting a business. Once I have my license, I will start a small business while I am still employed. This will ensure that I still have the security of my job income while I work on building my business.

Another challenge I will face in this quest is balancing my career and business choices with family life. While my…

Such adjusting entries will help to improve the accuracy of financial statements. Adjusting entries is necessary because accrual accounting systems demand that the events are recorded accurately. They are not to be recorded strictly on the basis of cash transactions, and all of these adjustments serve to translate the accounting figures that arise from the cash accounting to accrual accounting by incorporating all of the different non-cash transactions and ensuring that every element of the income statement and balance sheet is correct.

On a computerized accounting system, there might be software that can actually make these entries. If not they will need to be entered manually into the system.

As with any accounting, there are certain ethical issues that need to be understood. The accrual statements are where we report our profits and losses. It is important that they are completed accurately. Any fraud is illegal and cannot be tolerated.…

Works Cited:

No author. (2012). Adjusting entries. Accounting Coach.com. Retrieved November 29, 2012 from  http://www.accountingcoach.com/online-accounting-course/08Xpg01.html

As required under Statement of Financial Accounting Standards No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, WB must evaluate the carrying value of PC and T. against the fair value, as determined by the market capitalization of the two companies at the official spin-off date. In this case, both PC and T. will qualify as discontinued operations because after the confirmation of the transaction neither will be a part of the business or parent company.

WB maintains a March 31 end of year and the stock sale was dated May of 2000 which may cause a reporting concern. It is crucial that WB reports these events properly for the sake of accuracy. WB will be responsible to verify if any changes occur in their end of year reporting under SFAS No. 131. "The registrant, in consultation with its counsel, is responsible for determining whether a fundamental change…

References

SEC Regulations Committee. (June 12, 2001). Section C - Changes in Segment Reporting. Joint Meeting with SEC Staff. Retrieved on February 7, 2005, at http://preview.aicpa.org/belt/sec06_01.htm

Yungmann, George, & Taube, David. (Jul/Aug 2002). GAAP Net Income Measures Up. Retrieved on February 7, 2005, at  http://www.nareit.com/portfoliomag/02julaug/accounting.shtml 

Accounting

Career

According to the O-Net Online Summary Report, marriage and family therapists "diagnose and treat mental and emotional disorders, whether cognitive, affective, or behavioral, within the context of marriage and family systems." A systems approach is integral to the work that marriage and family therapists do, because they view individual psychological issues as inseparable from the greater family and social system. This enables a holistic approach to treatment interventions, and can be a culturally sensitive, culturally competent facet of psychological counseling.

The primary tasks of a marriage and family counselor include the following. First, communications skills are of the utmost importance because one of the central roles of the counselor is to listen and ask appropriate questions at the right time. A marriage and family counselor meets with more than one member of each family, too, making good communications skills a prerequisite of the profession.

Second, diagnoses should be based…

Works Cited

"Marriage and Family Therapist." AllPsychologySchools. Retrieved online:  http://www.allpsychologyschools.com/psychology-careers/career/marriage-family-therapist 

O-Net Online. "Summary Report for Marriage and Family Therapists." O-Net code: 21-1013.00. 2010. Retrieved online:  http://www.onetonline.org/link/summary/21-1013.00 

U.S. Bureau of Labor Statistics. "Marriage and Family Therapists." Retrieved online:  http://www.bls.gov/oes/current/oes211013.htm

For this reason, contract specialists do not need as rigid a background as, say, a neurologist does. A contract specialist usually develops his or her skills for the job while working for a large organization that engages suppliers in major contractual agreements. Devotion to an organization may precede the decision to become a contract specialist. or, a business student might decide that the communication-oriented nature of contract specialization suits his or her personality. Another person might find that while standard legal careers were disappointing, a career in contract specialization helps bridge the gap between the law, business, and the public sector in ways other occupations cannot possibly do.

Where I Am Now

In relation to the goal of becoming a contract specialist, I am well on my way towards achieving this core career objective. Currently, I am an Army Service member who is becoming familiar with various government-related contractual agreements.…

References

Central Intelligence Agency (CIA 2010). Contract specialist -- Entry level. Retrieved online: https://www.cia.gov/careers/opportunities/support-professional/contract-specialist-entry-level.html

"Contract Specialist," (n.d.). Career Planner. Retrieved online:  http://www.careerplanner.com/DOT-Job-Descriptions/CONTRACT-SPECIALIST.cfm 

Damewood, C.L. (n.d.). What does a contract specialist do? Wisegeek.com. Retrieved online:  http://www.wisegeek.com/what-does-a-contract-specialist-do.htm 

National Institutes of Health (NIH 2010). Contract specialist. Retrieved online:  http://www.jobs.nih.gov/positions/admin/contractspec.htm

Leaders can also increase self-leadership by withdrawing from the team leading function and by motivating each team member (perhaps privately) of the expectation and hope that each will develop leadership skills to his or her full potential. Finally, leaders can increase leadership among their followers by gradually increasing leadership responsibilities at appropriate opportunities.

Question 2b: How might an understanding of knowledge-based trust explain the reluctance of a person to change jobs?

People differ substantially in the degree to which they seek novel experiences or changes from established routines. People considered of self-described as thrill seekers, differ neurologically from people who prefer the safety and security of routines (Gerrig & Zimbardo, 2001). Naturally, anyone who prefers stable routines over changes or novel experiences is likely to be much less comfortable changing jobs than a person who relish excitement and change.

Apart from differences in personality and preference, skill-specific competence increases sharply…

References

Ross, a. (2002) No Collar: The Humane Workplace and Its Hidden Costs.

Basic Books

Greenstein, F.I., Lerner, M. ed (1971) a Sourcebook for the Study of Personality and Politics. Markham Publishing Company Chicago

Gerrig, R., Zimbardo, P. (2001) Psychology and Life 16th ed. Allyn & Bacon

Career Goals

Please discuss how you plan to achieve your short-term and long-term career goals. What challenges will you face and how will you leverage your professional and academic experiences to achieve these goals?

My very first short-term goal is to secure an admission into graduate school for a master in finance program, where I intend to enhance my current knowledge and build professional networks that will steer me to a supervisory position in the Structured Finance Group of an established financial institution such as Latham & Watkins or Sandler & O'Neill. I look forth to supervising a group of between 5 and 8 by the end of my degree program. This will not only give me an opportunity to market my skills within the company and beyond, but will also be a door-opener for the realization of my middle-term goal, which is to be the leader of the structured…

It wasn't until the 1920s and '30s that their blue-collar counterparts began to get paid vacations as well.

Americans in the late 20th century "worked more days per year than workers in other prosperous nations, such as those in Europe, yet on average, had less vacation time (Sabga, 2001)." Americans averaged two to three weeks off a year, in sharp contrast to many European nations which guaranteed up to six weeks a year. This is due to the fact "unlike in other countries, particularly Europe, vacations in the United States are not guaranteed by the government (Sabga, 2001)."

oles of Women

Women have played important roles in science and technology, however many times they have faced "social, economic, and intellectual obstacles (Kohlstedt, 2004)." In the early 20th century, the United States benefited from the efforts of "women of distinction like Anna

Botsford Comstock and Ellen Swallow ichards, while in Europe…

References

Asmar, Marwan. Dr. (31 December, 1999). "The makers of the 20th century." The Star (Jordan,

Middle East.

Cowen, Tyler. (January, 2000). "Who Says the Arts Are Dying?" USA Today (Magazine). (accessed 28 November, 2004). www.findarticles.com/cf_dls/m1272/2656_128/58576593/p1/article.jh).

Kohlstedt, Sally Gregory. (22 March, 2004). "Sustaining gains: reflections on women in science and technology in 20th-century United States." NWSA Journal.

This role is in response to clients' demands for a single trustworthy individual or firm to meet all of their financial needs. However, accountants are restricted from providing these services to clients whose financial statements they also prepare." (U.S. Department of Labor, ureau of Labor Statistics, 2009)

1. Public Accounting

The work entitled: "The Reality of the CPA's Role" states that modern CPAs work "behind the scenes as trusted advisors in nearly all significant business decisions. Successful accountants display the ability to think strategically and creatively and to be problem solvers and business advisors." (Douglass, 2006) Douglass states that the views of the CPA are widely varied "...whether from the viewpoint of the investing public or from the perspective of the companies that engage CPAs to audit their financial statements or perform other functions. In fact, many people not involved in the business management or accounting profession may perceive CPAs…

Bibliography

Douglass, Kevin (2006) the Reality of the CPA's Role New Jersey CPA Magazine, April 2006. Accounting and Auditing. Online available at:  http://www.amper.com/publications/amper-cpa-role.asp 

Erard, Brian (1992) Taxation with Representation: An Analysis of the Role of Tax Practitioners in Tax Compliance. Journal of Public Economics 52 (1993) 163-107. North-Holland. Online available at:  http://aysps.gsu.edu/isp/files/ISP_SUMMER_SCHOOL_2008_ERARD_TAXATION_WITHOUT_REPRESENTATION.pdf 

Financial accounting for Local and State School Systems (2005) Chapter 4: Governmental Accounting. National Center for Education Statistics. U.S. Department of Education, Institute of Education Sciences. Online available at:  http://nces.ed.gov/pubs2004/h2r2/ch_4.asp 

Garrison, Ray H. And Noreen, Eric W. (2009) What is Managerial Accounting/Cost Accounting. Accounting Management. Online available t:  http://www.accountingformanagement.com/

The reality was that a company which aspired to be "the No. 1 stock on all Street" was instead steadily bleeding money while claim growth in the billions.

The pressure placed upon accountants at ordCom was reflective of the pressure facing accountants throughout the economy during this period of widely absence securities oversight. Indeed, the relationship between regulation and accounting is essential, and this diminished link would have catastrophic implications for the profession as a whole. Such is shown by the Scott text, which tells that "efficient securities market theory has major implications for financial accounting. One of these is that supplementary information in financial statement notes or elsewhere is just as useful as information in the financial statements proper. Another is that efficiency is defined relative to a stock of publicly known information. Financial reporting has a role to play in improving the amount, timing, and accuracy of this…

Works Cited:

Kaplan, R.S. & Kiron, D. (2007). Accounting Fraud at WorldCom. Harvard Business School.

Scott, W.R. (2006). Financial Accounting Theory, 4th Ed. Pearson-Prentice Hall.

Skeel, D. (2005). Icarus in the Boardroom: The Fundamental Flaws in Corporate America and Where They Came From. Oxford University Press.

CPA Profession

The accounting profession has had more than its share of ups and downs in the last two decades. The business environment in this period, led by major technological innovations, has changed drastically and become infinitely complex -- making the job of accountants far more varied. hereas once Certified Public Accountants (CPAs) worked almost exclusively in accounting, auditing or tax preparation, now CPA firms have to handle fields such as financial planning, tax planning, business development, financial management, information systems, risk management, forensic and fraud auditing, among others. In addition, the highly publicized business scandals such as the Enron and the orldCom bankruptcies in 2001, the resulting public focus on the accounting profession, and the enactment of important accounting legislation such as the Sarbanes-Oxley Act of 2002 have forced the CPAs to respond to the changes. This paper takes a look at some of the recent changes in the…

Works Cited

Colson, Robert H. "CPA Journal Education Forum Anticipates Future." The CPA Journal. 72: 8. (2002): 20+.

Telberg, Rick. "Happy New Year! Yes, It Really Could Be." At Large Column. December 29, 2003 The AICPA Website. February 20, 2004  https://www.cpa2biz.com/News/Telberg/Happy+New.htm 

This is reflected in the popularity of the MBA degree, both among the students and the recruiting firms survey by Albrecht and Sack (2000) revealed that nearly 100% of accounting educators and 79% of accounting practitioners stated that they would not get an accounting degree if completing their education all over again

In June 2002, a federal jury convicted Andersen, Enron's independent auditor, of obstruction of justice, prohibiting the firm from practicing before the SEC and ending its audit practice.

That was the year that significant changes were made in the Securities Act and the rules for bringing class action lawsuits were adjusted and modified. Because of those changes, it became more important from a litigation standpoint to ensure that conservatism was used in accounting valuation. Because there are empirical differences between the contracting and litigation perspectives, there have been many discussions regarding them in the past and that will likely continue well into the future. Each accounting firm must do what it feels is in the best interest of both itself and its clients, but the avoidance of lawsuits is a highly significant issue to consider when a company is planning to focus on a particular accountancy option.

C. Income Tax Perspective

Because income taxes are so closely tied to earnings, it only stands to reason that there would be an accounting valuation issue as it relates to conservatism…

References

Ahmed, A.S., B. Billings, M.S. Harris and R.M. Morton. 2001. Accounting conservatism and cost of debt: An empirical test of efficient contracting. Working paper, Syracuse University.

Ahmed, A.S., R.M. Morton and T.F. Schaefer. 2000. Accounting conservatism and the valuation of accounting numbers: Evidence on the Feltham-Ohlson (1996) model. Journal of Accounting, Auditing & Finance 15 (Summer): 271-292.

American Institute of Certified Public Accountants, Committee on Accounting Procedures (AICPA). 1939. Accounting Research Bulletin 2.

Antle, R. And R. Lambert. 1988. Accountants' loss functions and induced incentives for conservatism. In Economic Analysis of Information and Contracts: Essays in Honor of John Butterworth, edited by G. Feltham, A. Amershi, and W. Ziemba. Boston, MA: Kluwer Academic Publishers.

" (2004)

Ricol states in relation to the audit area that "...actions were recommended in two primary areas:

1) Reducing threats to auditor independence; and 2) Strengthening audit quality control processes. (Ricol, 2004)

In regards to corporate management and governance, it is related in Ricol's speech that the task force called for corporate boards to "demonstrate greater accountability for the information, financial management and internal controls necessary to produce trustworthy information. Sound corporate governance policies are especially important in emerging economies, directly impacting investor confidence and economic growth." (Ricol, 2004)

V. ACCOUNTING'S CENTRAL ROLE in the ECONOMY

Accounting clearly plays a central role in the economy through "building confidence in financial information and financial infrastructure." (Ricol, 2004) According to Ricol the accounting profession "cannot afford to look the other way and focus on capital markets in developed countries." (Ricol, 2004) Additionally stated by Ricol is that the accountancy profession needs…

Bibliography

Hoggett, J.R., Edwards, L. And Medlin, J. (nd) Decision Making and the Role of Accounting. Accounting in Australia, Fifth Edition. Chapter 1. Online available at  http://www.johnwiley.com.au/highered/accounting/aia5e/student-res/study_guide_sampler.pdf 

The Role of Accountancy in Economic Development (2004) presented to the United Nations Conference on Trade and Development (UNCTAD)

Rene Ricol, President International Federation of Accountants June 16, 2004.

Yinglang, Edward L. (2008) Improve Accounting Standards, Improve the Economy. Mark to Market Watch. The American Spectator. 11 Dec 2008. Online available at  http://spectator.org/archives/2008/12/11/improve-accounting

Information System holds in Accounting Industry's future?

Looking through the glass and estimating what the future holds for any individual or profession is always a difficult exercise as the trends in any business or profession may change and so the path of development. It is better to look at the experience of some companies whose systems have changed over the past few years and thus try to estimate what is likely to happen.

There are many changes that have come to the world through the development of Information Technology and Computers. All the changes have come over a relatively short period of twenty years, and in many cases both industry and concerned humans are yet to adjust to the changes. There are many changes which have come in the accounting industry also, and those changes give an idea of what is likely to happen in the future.

The organization where…

REFERENCES

Anders, Susan B. (February, 2005) "Website of the Month: Legalbitstream" The CPA Journal.

Retrieved from  http://www.nysscpa.org/cpajournal/2005/205/essentials/p70.htm  Accessed on 12 July, 2005

Anders, Susan B. (July, 2005) "Website of the Month: Kaplan CPA Review" The CPA Journal.

Retrieved from  http://www.nysscpa.org/cpajournal/2005/705/essentials/p70.htm  Accessed on 12 July, 2005

Managerial Accounting: Organizations and Expectations

The profession and practice of accounting has become increasingly prominent and increasingly scrutinized over the past decade or so, in the wake of major scandals and upsets in the business world that can be traced in part to nebulous and unethical accounting practices or outright frauds. Because of this increased prominence, accountants today need to be more concerned than ever with not only the standards to which they hold themselves and their work, but also the appearance of these high standards and performance capabilities. This is one of the major benefits, along with many others, of belonging to a professional organization. The authority and austerity that the right professional organization carries provides these abstract as well as concrete benefits to member accountants, from increasing confidence and camaraderie to detailing the actual expectations and requirements of the task of accounting.

The Institute of Management Accountants is…

Reference

IMA. (2012). Institute of Management Accountants. Accessed 10 January 2011.

 http://www.imanet.org/

For its part, ethics is an overarching issue that lies in the background. Understanding different ethical issues can help to resolve dilemmas, for example. Also, ethical conduct is something that must be done at all times, not just some of the time. As such, this is something I learned in my coursework that will always provide me with a means of framing different issues. Ethical studies might not answer why we need to have convergence of accounting systems, but it can still guide the means by which a company will implement such changes and how it will communicate such changes to the different stakeholders.

3. For the most part, the courses that I took fit well within my major of Accounting. The pathway I chose is to learn all of the major issues in business and apply them to the accounting context. It is important that accounting is not just…

transparency seems to be a huge concern for the accounting profession and that many specialists (e.g. professionals and organizations in the accountancy profession such as Tilley (2010)) see transparency as remaining the next huge issue in the next decade, particularly as businesses outsource, become more complex, and powerful.

Regulations that are in order include the arbanes-Oxley Act (2002) that came into effect due to major accounting and corporate scandals that occurred in the last century such as from WorldCom, Tyco, Peregrine ystems; Adelphia, and Enron, each of which effected share prices of numerous impacted companies and caused the public's trust in security markets to falter (Greer. & Tonge, 2006).

Importance of the OX consists in the fact that it has restored public security in American capital markets and corporate financial statements as well as making corporate accounting more accountable for its actions and strengthening its responsibility. The OX has led…

Sources

Fombrun, C. & Foss, C. 2004, 'Business ethics corporate response'. Corporate Reputation Review, 7, pp.284 -- 288

Greer, L. & Tonge, A. 2006, 'Ethical foundations: a new framework for reliable financial reporting' Business Ethics: A European Review, 15(3), pp. 259-270, Wiley Online Library [Online].

Roslender, R. & Stevenson, J. 2009 'Accounting for people: a real step forward or more a case of wishing and hoping?' Critical Perspectives on Accounting, 20 (7), pp.855-869, ScienceDirect [Online].

Tilley, C. 2010 'Beyond 2010: Accountants in the next decade.'

The Whatever School of Business at Whatever University prepares its students well for the accounting profession but also encourages them to engage in critical debate about how to honor the different interests and demands of stakeholders at a corporation, and to balance the law with the needs of the client, regardless of whether the client is a 'real' individual or the fictional individual of a corporation. On a larger level, I believe that my experiences as an international student at Whatever will help me as an accountant student and eventually as a CPA. I am used to balancing a variety of different perspectives, as I have had to learn about the United States while learning about American and world economic systems in my classes.

In my classes at Whatever many of the students are interested to hear about the additional life experiences that I have had because I am several…

International accounting - Evaluate research theories and methodologies to classify accounting systems internationally

The necessity of accounting standards is given by the fact that financial statements should describe financial performance in a fair and consistent manner. Lacking standards, users of financial statements would be required to master the accounting rules of each company, and any comparison between companies' performances would be almost impossible.

Accounting standards are essential to the healthy development of an international financial reporting structure. Around the world several accounting traditions have been developed as a response to the needs of users who are in need of the financial information. Some countries, for instance, chose to build the structure of accounting standards around the needs of private creditors, while other countries were more concerned with the needs of tax authorities or central planners. As a characteristic of the United States, the needs of participants in the capital markets…

Bibliography

1. SEC Concept Release: International Accounting Standards

SECURITIES AND EXCHANGE COMMISSION

17 CFR PARTS 230 and 240

RELEASE NOS. 33-7801, 34-42430; INTERNATIONAL SERIES NO. 1215]

disclosure principle in accounting is the standard adopted by the accounting profession, which "calls for financial reporting of any financial facts significant enough to influence the judgment of an informed reader" (Kieso, Weygandt, & Warfield, 2007). Obviously, this definition is a very subjective one, because the reporting entity makes the determination of what facts are significant enough to influence an informed reader. "To reduce the amount of disclosure, it is customary to only disclose information about events that are likely to have a material impact on the entity's financial position or financial results" (Accounting Tools, 2011). However, the principle is not meant to be narrowly interpreted, and may require a company to report things that cannot be reduced to numbers on a balance sheet. For example, "this disclosure may include items that cannot yet be precisely quantified, such as the presence of a dispute with a government entity over a…

References

Accounting Principles. (2011). The full disclosure principle. Retrieved from http://www.accountingtools.com/full-disclosure-principle

Kieso, D.E., Weygandt, J.J., & Warfield, T.D. (2007). Intermediate accounting (12th ed.).

Hoboken, NJ: John Wiley & Sons.

Financial Accounting

Accounting Concepts

Financial Statements (Regulatory oversight)

The rapid failure and bankruptcy of Enron has prompted severe criticism of the nation's financial reporting and auditing systems, which are fundamental to maintaining investor confidence in U.S. capital markets; there are four areas in which the Enron failure revealed serious problems: corporate governance, the independent audit of financial statements, oversight of the accounting profession, and accounting and financial reporting issues (GAO, 2002). The financial statements are the frontline in determining a company's integrity and accountability. hen a company makes its financial statements public, then they can be scrutinized by many external entities to be used in the market.

However, before financial statements are made public, they should be examined by an external auditor. Auditing is one of the most essential functions in the entire accounting business function and mistakes made in accounting can cost an organization everything. Therefore the auditing process…

Works Cited

GAO. (2002, March 5). Protecting the Public Interest. Retrieved from U.S. Government Accountability Office:  http://www.gao.gov/products/GAO-02-483T 

Guilding, C., Drury, C., & Tayles, M. (2005). An empirical investigation of the importance of cost-plus pricing. Managerial Auditing Journal, 20(2), 125-137.

.....mission of the Emerging Issues Task Force (EITF) exerts upon the Financial Accounting Standards Board (FASB)

The Emerging Issues Task Force (EITF) was established with the main purpose of addressing and coming up with resolve for current issues being faced by professionals in the accounting field, which were not addressed by announcements of the Financial Accounting Standards Board (FASB). Prior to the establishment of ETIF in 1984, the FASB constantly faced challenges of not being able to offer well-timed and sensible solutions to developing practice problems. The EITF was therefore designed to disseminate and propagate carrying out guidance within the structure of the Accounting Standards Codification to decrease multiplicity when it comes down to it on a well-timed basis. In their field of profession, accountants experience a wide range of issues that are not comprehensively addressed in accounting pronouncements, and, which necessitate prompt resolve. In addition, such professionals insist that…

Another challenge facing the industry today is the important legal issues that surround the Sarbanes-Oxley Act (Koehn & Del Vecchio, 2004). One of these is the fact that the process of due diligence practiced by many companies is now taking much longer (Koehn & Del Vecchio, 2004). There is a higher degree of caution than was previously utilized and because of this many companies are discovering information that would have gone unnoticed before the Act was passed. This is, however, not the only legal issue that the Sarbanes-Oxley Act has caused (Koehn & Del Vecchio, 2004). Another concern is that accountants and attorneys could now be required to report the known wrongdoings of corporations that they have business with to authorities.

Since lawyers are now required to disclose these types of issues, the attorney-client privilege has been compromised by this Act (Koehn & Del Vecchio, 2004). However, the Act was…

Bibliography

Bradley, C.F. (1994). An empirical investigation of factors affecting corporate tax compliance behavior. Ph.D. dissertation, the University of Alabama.

Koehn, J.L. & Del Vecchio, S.C. (2004). Ripple effects of the Sarbanes-Oxley Act. The CPA Journal: 36-40.

Roper, J.C. (2006). Expert backs Enron's accounting practices. Houston Chronicle. Retrieved from  http://www.chron.com/disp/story.mpl/front/3839212.html .

Master's In Accounting Program

I can still see myself there, atop the stage, moving in slow motion, everyone watching my every step. My gown is bright; a tassel dangles loosely from my cap in the sun. A welcome breeze floats across the platform, seemingly mirroring my mood as I reach the speaker. Then, in a moment I have yet to forget and which reverberates in me to this day, I take the document with a firm handshake, pausing to bask in the adoration of my friends and family, some of whom have traveled from as far away as India.

It was approximately this time last year that I earned my Bachelor's of Science degree from the University of Central Oklahoma in the Spring of 2015. Accepting that diploma represented the culmination of 22 years of hard work and determination. However, even then, I realized that it meant something more --…

IAS 17 Leases

Explain the key features of the current accounting standard. You should use at least one illustrative example for lessee accounting from a published set of financial statements to illustrate the effect of the standard

IAS 17 accounting standard establishes and elucidates the pertinent accounting procedures and also disclosures that are supposed to be employed in accounting by lessors and also lessees. The lessor is the owner of the underlying asset while the lessee is the party that opts to make use of the asset at that point in time. One of the key features of the accounting standard is the classification between an operating lease and a finance lease. A financial lease is a contract or agreement whereby all of the risks and the rewards that are characteristic to the ownership of the asset are transferred to the lessee. On the other hand, an operating lease is…

References

IFRS, May 2013, Exposure Draft Leases, IFRS Foundation.

IFRS, May 2013, Exposure Draft Leases: Illustrative Examples, IFRS Foundation.

International Accounting Standard 17: Leases. IFRS Foundation.

Epstein, B.J., Jermakowicz, E. K, 2008, Wiley IFRS 2008: Interpretation and Application of International Accounting Financial Reporting Standards. Hoboken: John Wiley and Sons, Inc.

This leads to the inability to compare financial statements reliably with each other (Seay & Ford, 2010). A second concern is that the income statement will reflect increased volatility due to fair market writeups or writedowns. The third concern is the inconsistency in valuing some assets and liabilities at the current exit price. The fourth concern is whether price reflects the intrinsic value of the asset. It is suspected that price and value will differ, particularly in a downward trending market (Seay & Ford, 2010).

These concerns will affect the acceptance of fair value accounting and its ability to restore trust in the transparency and accuracy of accounting statements. According to Seay & Ford, many blamed fair value accounting for the collapse of the banking industry. However, they remind readers that the accountant only reports the information and that they were not to blame in the banking industry collapse.

As…

References

Bedard, J. & Gendron, Y. (2010). Can audit committees deliver? CA Magazine; Sep 2010; 143 (7). 50-53.

Gates, S., Lowe, D. & Reckers, P. (2007). Restoring public confidence in capital markets through auditor rotation. Managerial Auditing Journal. 22 (1): 5-17.

Seay, S. & Ford, W. (2010). Fair Presentation -- an Ethical Perspective on Fair Value Accounting Pursuant to the SEC Study on Mark-to-Market Accounting. Journal of Legal, Ethical and Regulatory Issues, 13 (1): 53-66.

Thomason, M. (2009). Auditing the PCOAB: A Test to the Accountability of the Uniquely Structured Regulator of Accountants. Vanderbilt Law Review. 62 (6): 1954-1989.

Social Accounting

Socio-economic accounting as a term and as a subdiscipline of accounting is a relatively new phenomenon. It is sometimes confused with social accounting, which is an established field of accounting and economics. Social accounting was first introduced by J.R. Hicks of Oxford University in The Social Framework: An Introduction to Economics, published in 1942. The accounting research of the time interpreted it as the whole system of accounts and balance sheets of a nation or a region, the price and quantity components of these accounts, and the various considerations to be derived there from. Social accounting was basically associated with national income accounting. An examination of the early publications in the accounting literature proves that point. A general theme in the early literature is the failure of the accountant to be involved in social accounting. The presence of business in initiatives implicating social accounting is so pervasive today…

Bibliography

Bailey, D., Harte, G. And Sugden, R. 1994, Making Transnationals Accountable: A Significant Step for Britain, London: Routledge.

Carroll, A.B., and Buchholtz, A.K. 2000, Business and Society: Ethics and stakeholder management, 4th ed, Chapter 4, Cincinnati: South-Western Publishing, .

Easterly, William, and Ross Levine. 1996. Africas Growth Tragedy: Policies and Ethnic Divisions. World Bank. April.

Elkington, J. 1998, Cannibals with Forks: The Triple Bottom Line of the 21st Century, London: Capstone.

Coporate Finance/Accounting

he first area of dispute in the Kansas City Zephyrs accounting disagreement between the owners and the players is roster depreciation, which the owners claim causes them a loss of 2 million dollars and which the players do not recognize. It appears as though the players are correct for not recognizing this loss, since the only time that expense occurs is when a team is bought by someone else. Additionally, by mitigating this possibility with the effect that players improve with experience and training and the players are right.

In terms of current roster salary it appears as though the players are right in the case of the Zephyrs. heir rectitude is based on the fact that the owners are actually paying part of the player's salary much later (10 years) than they are recognizing losses for. he Zephyrs are not paying that money now, although other teams…

The phenomenon in accounting practices that was dubbed the Earnings Game in the 1990's article by Justin Fox is the clever manipulation of earnings in order to consistently meet the projected earnings of a publicly traded company by the myriad of analysts who evaluate it. The goal, of course, is to not fail to meet your earnings by a penny, as well as to not exceed expectations by too much -- since doing so could dramatically later future expectations and throw off the smooth, regulated meeting of earnings. Companies play this game, of course, because it helps to bolster their stocks. The public and the financial community in general is greatly impressed by companies that meet their earnings over a sustained period of time. There are many different ways in which companies can subtly manipulate their earnings to meet the expectations of analysts. One is to defer recording revenue until it is advantageous to do so -- a similar process may involve losses. The point, of course, is to keep investors pleased by demonstrating stability.

I was astounded to find out that the history of writing and record keeping can be traced back to accounting and the management of pecuniary resources. I always thought that writing was created for some high literary pursuit of which I could not conceive. Moreover, I was almost certain that record keeping was began for the purpose of history -- such as to denote the fact that an ancient king had 27 wives or to trace the lineage of such a person. The bible certainly alludes to the latter fact, although that was written well after most of the events described in the article "Antecedents of the Accounting Profession."

I also believed that this same concept applied to Scribes, and was shocked to see that they dealt less with history than with pragmatic, monetary affairs.

Strategic Perspectives in Management Accounting and Finance

The main reason for differentiation in the accounting studies seemed to occur due to the functionalist perceptions in the expertise of social studies. According to Dellaportas and Davenport (2008) professions are being separated by occupation on the basis of the level of distinctiveness one occupation has from another; a model first designed by Greenwood in 1975.

Abercrombie et al. (1994, p. 335) in their study explained that such distinctiveness is surrounded by the concept which results in more beneficiary outcomes for the public than for an individual's professional interest in providing services. This simply means that it was an original human demand that gave birth to all professions. There's an equality on profession's social compulsion i.e. there is a balance between a professional's job and his obligation to serve the public. In this regard Carey (1965, p. 376) asserted that it was in…

References

Abbott, A. The system of professions: an essay on the division of expert labor. Chicago: University of Chicago Press (1988).

Abercrombie, N., Hill, S., Turner, B.S. The penguin dictionary of sociology. 3rd ed. Ringwood: Penguin Books (1994).

Bedard, J. The disciplinary process of the accounting profession: protecting the public or the profession? The Quebec experience. Journal of Accounting and Public Policy; 20 (2001) (4/5): 399 -- 437.

Bivins, T.H. Public relations, professionalism, and the public interest. Journal of Business Ethics; 12 (1993) (2): 117 -- 26.

Education on ethics must be wider compared to "moral development" in that it must tackle the broader consideration of a wide-ranging vocation, and constricted in that it must tackle problems particularly to the accounting vocation. (esearch on Accounting Ethics)

Definite duties of the accounting profession are put forth in the different code of ethics circulated by important establishments like the AICPA. The AICPA's foremost rule of professional conduct declares: In discharging their duties as professionals, associates must implement responsive professional and moral views in all their works. (Business and Accounting Ethics) the failure of auditor sovereignty infringing ule 101 of the AICPA Code of Professional Conduct was the topic of a research project using 2,000 arbitrarily chosen AICPA members in public accounting profession as a staff auditor, senior, or manager. These executives were offered with 15 roles that are an infringement of ule 101 and were directed to give their…

References

Accounting and Accountability: A Challenge for corporate culture. The 13th International Symposium on Ethics, Business and Society. IESE Business School, University of Navarra. Barcelona, Spain. May 7-8, 2004. Retrieved at  http://www.iese.edu/en/files/6_6343.pdf . Accessed on 25 April, 2005.

Schachter, Joseph. Research on Accounting Ethics. CPA Journal. April 1999. Retrieved at  http://www.nysscpa.org/cpajournal/1999/0499/News_Views/NV12.HTM . Accessed on 25 April, 2005.

Smith, Katherine T; Smith, Murphy. L. Business and Accounting Ethics. 21 June, 2003.

Retrieved at http://acct.tamu.edu/smith/ethics/ethics.htm. Accessed on 25 April, 2005.

Values and Morals in the Accounting Industry

The important questions to be addressed are taken from the "…business ethics/corporate social responsibility literature, oriented towards business enterprises but also of relevance to professional bodies: whether being ethical 'pays' in financial terms; and whether formal codes are useful in promoting ethical behavior…" (Cowton, 2009, p. 177).

Accountants are charged with carrying out ethical and moral decisions in their everyday work, but judging from some of the scandals in recent years (Enron, orldCom, the Anderson Accountancy, etc.) not all accountants are up to speed with those ethical and moral decisions. This paper reviews the judgments that accountants should be making based on morality and ethical values, whether the accountant is working for a multinational corporation or for a small business with only half a dozen employees.

Accounting Students and Moral Decision-Making

Deborah Leitsch writes in the Journal of Business Ethics that auditors are…

Works Cited

Brown-Liburd, Helen L., and Porco, Barbara M. (2011). It's What's Outside that Counts:

Do Extracurricular Experiences Affect the Cognitive Moral Development of Undergraduate Accounting Students? Issues in Accounting Education, 26(2), 439-454.

Cooper, Barry J., Leung, Philomena, Dellaportas, Steven, Jackling, Beverley, and Wong,

Grace. (2008). Ethics Education for Accounting Students -- a Toolkit Approach.

Introduction
In the business actuality of the present day, where knowledge management together with intangible assets are fundamental sources of competitive advantage, the individual action and behavior of employees ranging from first-line personnel to management can facilitate the success or downfall of an organization’s reputation. This has a substantial effect on share value, the capability to attract and sustain consumers, investors, personnel, or clients, and the risk of violating compliance (Jamshidinavid and Kamari, 2012). Addressing business ethics and responsibility issues within a business entity begins the compliance of the pertinent legislations and codes of practice. As a provider of business needs with scarce resources, there is the need to have the capability to make a distinction between the appropriate and inappropriate way of taking expense into account when making decisions regarding practices and processes of clients. In the contemporary business setting, the role that is played by accountants is significant.…

If the decision is made to remain affiliated with the taxpayer, the member should ensure that the error is neither repeated nor perpetuated.

Conclusion

The rules and regulations implemented for tax service providers and other officials working with taxpayer clients are established in order to ensure the stability and ethical values of the position. Taxpayers are very important, as they uphold the economics and financial health of their community and their country. In this regard, it is the obligation of the tax service official to respect both the system and the client by upholding a high level of ethics.

In turn, the taxpayer should assist the preparer in the mission to provide accurate information that is free of errors. In the case of errors, it is important to emphasize that the system does provide for human error. If either the tax preparer or the taxpayer can be shown not to…

career interest is accounting. Accountancy is the process of evaluating the financial information about business entities to users such as the managers of the shareholders (Elliot, & Elliot, 2004). Accountancy falls into three areas: accounting, bookkeeping, and auditing.

I choose accounting since it will give me a solid employment with a lucrative wage and this is what is important to me. I have also learned that it can be fun in the investigative way if I se it as such. The work conditions are fine -- not too tedious and best of all I can structure them at my convenience. I can work either for an institution or be self-employed. Chances for advancement also depend on myself and, best of all, I can find global opportunities in any and every business..

• Career goals and career strategy

The kind of job that I am most interested in is working in…

References

Accountants and Auditors. Career Information. CollegeGrad.com

Accounting Jobs Today.com Controller | Sample Resume 5

 http://www.accountingjobstoday.com/cm/Resumes/controller5.html 

Alba, J. Vault career guide to accounting. New York: Vault, c2002.

This means that the country will have enough 'supply' of accountants at the time demand will be greater (in the future). Interestingly, this increase in demand for accountants will also correspond to an increase in projected median annual earnings for the profession. While the highest earnings belong to accountants who are involved in "tax preparation, bookkeeping, and payroll services," (at $57,000 per annum), management accountants -- that is, accountants involved in "management of companies and enterprises" -- placed as the second most highest per annum salary among accounting categories, at $55,000 per annum (U.S. BLS, 2007).

This positive outlook to management accounting is supported by Ms Dale, who believed that accounting is one of the professions that is recognized as financially rewarding and intellectually stimulating, across societies and cultures all over the world. She likened the profession as a high-low job, where working conditions are usually located at the extreme…

References

Accountants and auditors." (2007). Occupational Outlook Handbook, U.S. Department of Labor- Bureau of Labor Statistics web site. Available at  http://www.bls.gov/oco/ocos001.htm .

Johnson, S. (2003). The Present: the secret to enjoying your work and life, now! Doubleday.

Personal interview with N. Dale. Interviewed last February 13, 2009.

ccounting CP. Ideas 1- My story: I a young, my father gave responsibility manage budget house. School I control budget Volunteer

Personal statement: Why I want to obtain an MSc in ccounting

Ever since I was young, I have had the responsibility of balancing a budget. My father encouraged me to manage some of the household finances, and by the time I was selected in school to oversee the treasury of the volunteer club, I felt very comfortable and confident with bookkeeping. Majoring in accounting when I went to college seemed like a natural extension of my interests and aptitudes. I graduated with a B.. In accounting from King Saud University in 2009. However, even then I knew that obtaining a B.. was only the first step in gaining mastery of the profession. I already knew I wanted to go on to get my MSc in ccounting but decided to…

After graduating, I obtained a job at the Saudi Arabian Monetary Agency, where I am currently employed. I am charged with supervising the Agency's financial statements and the accounting details of insurance companies. My work has enabled me to put my academic knowledge into practice, and has been a constant, daily education in the need for rigor, efficiency, and wide and deep knowledge of international accounting standards and ethics. But like all positive experiences, my work life has also showed me what I do not know about the accounting field. I wish to gain a broader and more flexible skill set to be better able to cope with the demands of the profession. The profession is changing at a rapid rate. I have been amazed how quickly my nation and the world have evolved in terms of accounting standards and ethics since 2009.

My work experience whetted my appetite for more knowledge about the field of accounting. I have come to better understand the different ways in which modern global business demands new forms of accounting and monitoring business processes. Government regulations are constantly changing regarding how financial statements must be prepared, as are the needs of businesses in the new global economy. Accountants must meet these challenges head-on, and obtaining my MSc would better equip me to do so. Becoming a part of a formal MSc program would also connect me with a network of fellow professions, whose diverse work experiences would instruct me.

I have chosen to purse an MSc in Accounting at University which emphasizes team-based learning and will offer a flexible curriculum so I can tailor my education to my needs. I believe that I have enough experience to know how to guide my education, while supported by the outstanding faculty of the school. Because of my experiences I am confident I would be an asset to any classroom. I would be able to offer my knowledge to support what was being taught in class with real-life experiences. After obtaining my MSc, I intend to become a CPA and open my own business. Obtaining an MSc would give me the knowledge and platform to act independently as an accountant and to serve in my profession to the maximum extent of my abilities. Much as I have enjoyed working for a government agency, I believe it is in private practice where my full ambitions can be realized. My MSc would thus also give me a needed grounding in managerial theory that I would require to manage my own office of fellow accounting professionals.

ystems of income and financial position would superimpose standards of normalization upon everyone within the firm. Accounting, thereby, had achieved Foucault's definition of knowledge as power over people per excellence. By the 1950s, however, person as decision-maker replaced this vision of person as machine, and accounting still has power in our society, but a different sort of power. Likewise, accounting still possesses its constructivism (i.e. manner of perceiving a certain stranglehold on reality by emphasizing certain construct and demoting others), although its constructivist paradigm may have differed from that of, say, a century ago. Individuals are viewed, measured, and criticized within programmatic frameworks, and Miller and O'Leary (1987) suggest that accounting today can still be viewed as part of the heritage and structure (albeit slightly changed) of the traditional mode of power that it was in the early decades of this century. In other words, the slanted domination of accounting…

Sources

Armstrong, P. 2002, "Management, Image and Management Accounting. Critical Perspectives on Accounting, 13, pp. 281-295

Bryer, R. 2006, "Accounting and control of the labour process" Critical Perspectives on Accounting, 17, pp 551-598.

Chwastiak, M. & Young, J.J. 2005, "Silences in Annual Reports, Critical Perspectives on Accounting, 14, 533- 552

Ezzamel, M., Lilley, S. & Willmott, H. 2004, "Accounting representation and the road to commercial salvation." Accounting, Organizations and Society, 29, pp. 783- 813.

Professional Plans and Career Objectives

Goal Statement for Insert Name

My career mission is to work in a dynamic team-oriented company performing financial analysis and helping to guide key decisions related financial projections that direct capital expenditures. I enjoy the mechanics of small details and insuring compliance to specific budgets, report types and the impact that this type of granularity has on recommendations for major decisions within a company.

My pre-college work experience taught me the differences between customer service, labor, and accounting and finance. The hands-on work I performed in a service industry provided me with an appreciation for customers and the need to efficiently do a good job but this type of career left me without a sense of challenge. Eventually I felt drawn to the back office as I learned that the payments and processing and efficient entry of data surrounding transactions was the lifeblood of the…

Salaries within two distinct geographic regions often vary substantially. Employers within a market economy must compete for talent and labor in the same manner in which they compete for customers. Employers must therefore entice perspective candidates with a compelling value proposition relative to peers. This proposition often includes aspects such vacation, retirement plans, and special rights and privileges. A major component of the ability of a company to attract and retain talented candidates is salary. Two economic forces heavily influence pay differences within respective regions of the country. One of which is cost of living within the particular area. Cost of living in particular has many variables that comprise it (Dohrn, 1996). Aspects such as living expenses, taxes, inflation, and transportation are all components within the cost of living calculation. A higher cost of living often demands a salary premium when compares to other, less expensive areas. The second economic…

References

1) Dohrn-van Rossum, Gerhard,, (1996). History of the hour: Clocks and modern temporal orders. Thomas Dunlap (trans.). Chicago: University of Chicago Press.ISBN 9780226155104.

2) Finley, Moses I. (1973). The ancient economy. Berkeley: University of California Press. p. 65

3) Thompson, E. P. (1967). "Time, Work-Discipline, and Industrial Capitalism." Past and Present 38: 56-9

profession give some right ideas and some wrong ideas. Accounting is a process through which persons come to know the state of the business. It is used by the owners to find out their own performance in the activity they have taken up, by the government to collect the amount of taxes that are due by the investors in order to decide as to whether they should invest in the business, by the lenders to find out whether it is safe and secure to give the business credit, and many others for various needs or purposes. At the same time, it is not essential that all accounts give the right ideas as we can see many big businesses being penalized for wrong statements and manipulating their own accounts. Ultimately they have an objective -- pay as low a figure of taxes as you can. The government also tries to catch…

REFERENCES

"Accounting Terminology Guide" Retrieved from  http://www.nysscpa.org/prof_library/guide.htm  Accessed on 22 July, 2005

"Basic Accounting Principles" Retrieved from  http://www.entrepreneur.com/article/0,4621,265198,00.html  Accessed on 22 July, 2005

"Bookkeeping and Accounting - From Start to Finish" Retrieved from http://www.onlinewbc.gov/docs/finance/bkpg_basic1.html Accessed on 22 July, 2005

"Bookkeeping and Accounting" Retrieved from http://www.onlinewbc.gov/docs/finance/bkpg_acct.html Accessed on 22 July, 2005

.....personal marketing plan with the intention of marketing myself to my future employer. This is my first step into the management profession and I am excited to settle into a job in this field. This Personal Marketing Plan (PMP) will guide me on the areas I need to focus more as far as my career is concerned.

I am an American resident having completed all my studies here. Throughout my elementary and secondary years, I held various positions such as class representative. Later, I got an admission in the University and since I was inclined to the commerce side, I opted to major in management. After completing this course, I intend to sort out today's market needs and the employment opportunities just within the country (Herrick 50). My belief is that improvement and continuous innovation are the keys for competing in the currently challenging market. I have done extensive research…

The salary ranges from $80,000 to $110,000 (Kalbach 45).

Advancement

Rank advancement relates to the level of experience of the employee and the amount of years of services within the context of the business entity. For individuals or experts to command rank advancement within this field, they must develop large pool of experience and qualification to be able to serve in the higher ranks. The employee must also serve within the company for certain duration in order to merit promotion. This type of rank advancement or promotion depends on the performance and personal or character traits (honesty, loyalty, and obedience) of the employee. The company must be convinced on the performance levels of the user experience designer to guarantee or facilitate promotion to higher ranks with better remuneration or wages.

Companies that hire User Experience Designers

Some of companies hiring user experience designers include San Diego, Asana, Red Giant, Nerdery,…

Works Cited

Mader-Clark, M. The job description handbook. Berkeley, CA: Nolo. 2008. Print.

United States., & United States. Occupational Outlook Handbook, 2009. New York: Skyhorse

Publishing.2009. Print.

Chandrasekharan, V.C. Network marketing: Is it for you?. New Delhi: Sterling Publishers. 2008.