Certified Public Accountant Essays (Examples)

An increase in the number of businesses, changing financial laws and regulations, and increased scrutiny of company finances will drive growth. In addition to openings resulting from growth, the need to replace accountants and auditors who retire or transfer to other occupations will produce numerous job openings in this large occupation."
Following a slew of recent accounting scandals (does Enron ring a bell?), federal legislation was passed to increase penalties, and make company executives individually responsible for falsely reporting financial data (U.S. Department of Labor Bureau of Labor Statistics, 2004). These changes should lead to greater scrutiny of company finances and accounting procedures, and should create more opportunities for accountants and auditors, particularly CPAs, to be more thorough in auditing financial records.

eferences

CPA.net. (2004). Colleges and Universities Offering Accounting Degree Programs. etrieved from the Internet at http://www.cpanet.com/education/site.asp?AID=10&LIST=0020&UL=http%3A%2F%2Fwww%2Eaicpa%2Eorg%2Fnolimits%2Fbecome%2Findex%2Ehtm&Site=01%2E+Becoming+a+CPA.

CPA.net. (2004). What is a CPA? etrieved from the Internet at http://www.cpanet.com/education/site.asp?AID=10&LIST=0020&UL=http%3A%2F%2Fwww%2Eaicpa%2Eorg%2Fnolimits%2Fbecome%2Findex%2Ehtm&Site=01%2E+Becoming+a+CPA.…

In addition, there is no requirement, per se, for a master's degree; Within the total hour requirement, 36 semester hours of accounting and/or tax courses above the principles level and 39 semester hours of general business courses, including six semester hours in business law (Uniform CPA Exam).
The Uniform CPA Examination consists of four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG). The exam is offered up to six days a week during January, February, April, May, July, August, October and November each year.. After the state board determines a candidate is eligible to sit for specific sections of the CPA Examination, the candidate will receive a Notice to Schedule (NTS). The candidate can then register directly with a Prometric testing center to take one or more sections. The CPA exam is a closed book, secured examination. Candidates are required…

deceitful profession, certified public accountants would most certainly not be the first to come to mind. That is because CPAs are known and respected for their honesty. The profession goes out of its way to project that image, and there is a certain amount of truth to it. However, not all CPAs are squeaky clean and respected for their honesty. Some are quite dishonest and are putting a black mark on the image of the entire profession. There is one area where the CPA profession has fallen short of protecting the public interest. There is a general duty that accountants owe to their clients and the other persons who are affected by their actions. Two elements compose the general duty of performance: skill and care. Another element and responsibility is owed to clients and other persons, which is that accountants should observe a standard of ethical or social responsibility.
One…

American Institute of Certified Public Accountants (AICPA) pioneered and mulled over a set of standards for auditing professionals. These eventually became recognized as the 10 generally accepted auditing standards. The 10 generally accepted auditing standards fall under three main categories:
General standards -- Audits must be executed by a qualified and adept auditor.

All matters relating to the project should be addressed with autonomy in mental attitude.

Professional care is to be exercised at all times.

Field work Standards -- work is to be sufficiently planned and appropriately managed.

To evaluate the risk of substantive misstatements, a satisfactory understanding of the entity is essential. knowledgeable auditing skills must be demonstrated through auditing measures performed to afford a reasonable basis for an opinion.

Reporting Standards -- Report whether the financial statements are presented in harmony with generally accepted accounting principles. Report the conditions in which principles have not been consistently observed…

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…

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…

Ethical Issues Affecting Accountants
The need for ethical standards within the corporate accounting field is urgent, and this paper delves into ethical issues. Given the fact that rules can be bent and manipulated, this paper also points to potential ways in which ethics can become as important as rules.

hile there has apparently been a "shift in the ethical behavior of management" -- which is related to the corruption and convictions of accountant-related individuals with Enron and Author Anderson -- the literature indicates that there are still ethical issues to be addressed within the industry (Bolt-Lee, et al., 2010, p. 38). Research presented in the peer-reviewed Journal of Accountancy shows that subsequent to the Enron and other scandals, there is a movement toward a "…more heightened state of ethical awareness" that is apparently due to "…the greater likelihood of punitive consequences" (Bolt-Lee, 38).

In the Bolt-Lee article, the authors allude…

Self-Assessment
The initial step starts with self-assessment. Various territories of self information are imperative in establishing a framework for a career plan. I initially need to comprehend my particular identity e.g. Am I active or bashful, latent or forceful, mindful or passionate. What's more, I should be clear about my mentalities toward life and work. For instance, an inspirational state of mind about work characterizes who I am and may turn me toward a career that gives the chance to take part in a driving enthusiasm however it would not intrigue somebody for whom work is just a fundamental malevolence to give stability and salary. (Andolsen, 2008).

Using the MTI personality type analysis, I can determine 4 levels of my personality; namely introversion, sensing Or sensitivity, thinking ability and perception. this can then allow me to determine whether I am logical, practical, adaptable l, observer or a problem-solver, leader or…

Accountant
hy I Chose Accounting

"I hate math." Ever since I can remember people have approached me to tell me how much they loathe math, when they hear that I love it. However, I have always been fascinated by the order mathematics can bring to a chaotic world. Sometimes when life seems hard, it is very comforting to be able to look at numbers. This is not to say, of course, that accounting is not challenging. In fact, like many prospective accounting majors, I initially struggled with the discipline in my fundamentals courses ("Top 10 Easiest and Hardest College Degree Majors of 2016"). There is a reason that introductory accounting classes are often considered weeding-out, gatekeeping classes for the profession. Many people decide they want to be accountants because they think it is a lucrative profession that does not require as much additional schooling as law or medicine but then…

ole of Accounting on Business and Our Society
Financial statements play a key role in reporting the financial performance of a business besides helping managers to make better decisions. Business leaders often would interpret the different financial statements in order to understand the position of their business, the necessary risks that their businesses are facing, and the financial actions that should be taken to make the business to grow. All the financial statements developed for the operation of a business are critical in providing necessary information on the accounts. They allow business leaders to understand the business and take of necessary investment or controls needed for the success of the business.

Financial statements have unique roles since they are essential in determining the extent of success in an organization. A cash flow statement is helpful in analyzing the amount of cash available and those needed to meet the operating costs…

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,…

For individuals with a political bent, the AICPA also acts as a lobbying group and activist body. The website offers information about its stance on political issues, such as Congress' current attempt to put an additional legal burden upon professional tax preparers above and beyond the standard of ordinary preparers. This is called the "more likely than not" provision and the AICPA feels it causes a conflict of interest between a clients and professional tax preparer.

Finally, the AICPA website provides links to featured software products on a weekly basis, to help accountants gain a sense of the best types of helpful office products in production that can be of use to the profession. Although it is hard to believe right now, because modern technology is moving so fast, older accountants might want to use the site to become aware of new and helpful technological tools to make their work…

The relationship between Employee 2 and the accounting manager is one where the manager experiences a greater degree of dependency, because of the employee's expert power. Hence the manager is as it were obliged to comply with Employee 2's requirement in order to ensure that the employee provides the necessary services to the company. On the other hand, were the manager to appoint an additional certified public accountant, the expert power of Employee 2 would be considerably diminished, especially once the new employee becomes well versed in his work. This would provide a stronger basis of formal power to the accounting manager, and Employee 2 in turn would be obliged to work a normal week, like all the other employees in the department.

Employee 3 also exercised personal power, and specifically the element of referent power, in terms of her personal traits. Because of the employee's personality, others are naturally…

SOP Major
Despite of a global economic recession, China surpassed Japan in GDP to become the second-largest economy. This is great news but it disguises the real impact of China's economic growth on social and political affairs in the country. Housing prices are so high that most young Chinese people cannot afford to buy even the smallest house. ncome disparity has grown between the rural poor and the comparatively wealthy urbanites. Compounding the problem are quality of life factors, such as water and air pollution.

have myriads of questions and concerns related to my country's role in the world, and how it is addressing its domestic problems too. My interest in economics as a field of study stems from a personal understanding of the links between issues like GDP and growth to the underlying social and political problems in a country like mine. My parents helped me to see this…

supplied in Chapter 25 is dense, and full of key facts and ideas that are useful in guiding a board of a non-profit organization into a prudent position when discussing the ideas of growth through investment. The myriad of options and terms also suggests that a certified public accountant is best able to pinpoint the most satisfactory approaches to an economic and efficient investment program that may be used to fuel and fund projects to new levels of success.
The chapter begins by discussing the different types of investments available to a board when considering the options to grow the organization in an beneficial manner that is aligned with the greater organizational strategy. The authors are not hesitant to offer their opinions when guiding the reader to a certain conclusion. Throughout the reading, they offer concrete examples of how the principles introduced can be practically applied in real world example.…

(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…

This attention to detail is one of the most fundamental skills to being a great accountant.
Another personal skill that is necessary for public accounting is the ability to communicate effectively with others. This is one of the most crucial skills that any individual must have in public accounting because auditors will have to work with many different types of people across different backgrounds and work cultures. Inter-personal skills are very hard to develop because it requires consistency, any individual can have friends or close relationship, but to constantly be a good and caring person is very difficult. Since I understand the importance of developing strong interpersonal communication skills as well as ability to work in team environments, I attempt to have helpful and caring relationships with everyone I meet. This extends not only to those who are closest to me, such as my parents, relatives, close friends, etc. But…

he article also focuses on the differences in decision making of senior accountants based on the type of education they received vs. he amount of practical experience they had. he article focuses on these issues as it pertained to the value of accounting education and experience in the stock market. Overall this resource is well written and seeks to provide a point-of-view from the epicenter of the finance world -- the stock market.
Outline

I. Introduction

hesis: Accountants with a CPA license rather than an MBA degree have a better chance of getting hired, advance and succeed in the public accounting field.

II. Certified Public Accountant

A. Steps required to become a CPA

B. Certification requirements for public accountants

C. Job Prospects/Demand for CPAs

D. Global need for CPAs

E. Career Advancement for CPAs

III. Compare and Contrast demand for CPAs vs. MBAs

A. CPA as a highly specialized certificate…

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…

ETHICS plays an important role in many areas of our business world. Take direct selling, for instance. How can you tell the difference between a legitimate business and a disguised pyramid scheme? To answer this question, we need to back up and look at what "ethics" are all about and, why they are important. Then we will look at the legitimacy of the two direct selling methods.
What are ethics? Here is the most recent textbook definition from a college MA (Masters in usiness Administration) updated required reading selection, "Ethics are the moral principles that govern the actions and decision of an individual or group," Marketing 7th Edition (Kerin, 2003, 100). In other words, to choose a course of action in moral situations, we use ethics, our cornerstones or guidelines to follow.

Why are ethics important in the business arena? ecause every person is a part of the whole and…

ecause the $750.00 was given as a donation to the non-profit organization, it will be viewed as an asset. Since the preparation of the tax return was given in exchange for the donation, it is considered a gift and thus not an asset.
Next, one must inquire as to whether the firm of Good and Good's liability should be measured at out of pocket cost, at full costs, or at market value? As has previously been explained, if sued for professional malpractice, the court is most likely to hold Good and Good liable for the full amount of damages to Mr. Pinchpenny that was caused by their professional negligence. Thus, Good and Good's liability is likely to be measured at market value.

The final question that needs to be asked is whether or not any amount in excess of what the firm of Good and Good intended to contribute to…

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…

A the direct support or supervision of individuals who deliver all, or any portion, of the personal financial planning process to a client.

A teaching all, or any portion, of the personal financial planning process.

Finally the applicant must agree to adhere to the CFP Code of Professional Conduct and submit to a background check. Any pending litigation must be disclosed.

The Financial Planner typically operates in four major areas: investment planning, estate planning, retirement planning and business succession planning. All of these areas are highly specialized and a planner may decide to specialize in one or more areas. Major firms will offer all of these services to clients, but the delivery method may vary by company. Firms such as Lincoln Financial Advisors, American Express Financial Services and AXA Advisors offer all of these services.

Another group of firms includes brokerage firms, also called wire houses, that may offer some…

The program focuses on building an ethical culture, but does not appear to specifically address fraud risk assessments, controls over fraud prevention or other SOX provisions.
3) the company currently focuses on training and enculturation to sensitize its employees to ethical issues. One suggestion would be to align executive compensation with the objectives of the shareholders. Options only bring about temporary alignment, so shares or other long-term strategies should be used instead. This will help management to focus on both ethics and profitability. Another suggestion would be to build upon their existing program by creating job-specific training as well as corporate-wide training. This way the scenarios that the workers are exposed to are specific to situations they might see, which will bring the message closer to home.

orks Cited

No author. (2008) Sarbanes-Oxley. American Institute of Certified Public Accountants. Retrieved December 16, 2008 at http://thecaq.aicpa.org/Resources/Sarbanes+Oxley/

No author. (2008). Federal Sentencing…

United States. I feel that auditors should be held to the highest standards and any implication of illegal behavior should be punishable under law.
Supreme Court aside, Congress has done much within Sarbanes-Oxley to address the legal ramifications concerning auditor misrepresentation. The principles regarding the elimination of conflict of interest remove one of the most significant motivations for the commission of fraud. I feel that overall, the legal framework for prosecution is strong. I do, however, feel that the industry should hold itself to a higher standard. The PCAOB can make life difficult for auditing firms, and this acts as a means of control, but surely an auditor willing to commit fraud will not be discouraged. Even the threat of being removed from the profession may not suffice.

There needs, in my opinion, to be a comprehensive degree of legal recourse. This should include but not be limited to civil…

Professional health care providers in direct contact with patients have been required to be licensed and credentialed demonstrating current competencies of quality and safe healthcare practice. Should similar licensing and credentialing requirements be imposed on collaborative workers in the health care industry who may not be directly serving patients (e.g., business office personnel, CEOs, CFOs, or other administrators)? Why or why not?
Collaborative health care workers should not be generally required to obtain similar licensing and credentials as their direct-patient care provider counterparts for two main reasons: redundancy and excessive costs First, requiring collaborative health care workers to obtain licensing and credentialing similar to direct patient care providers would be redundant because some collaborative health care industry executives who perform administrative tasks that do not involve direct patient care already possess professional licensing and credentials by virtue of their current occupational status and previous work experience (e.g., physicians or advanced…

training is sometimes necessary in order to provide the company a skilled enough worker to handle even the toughest work. However, sometimes, one does not have to seek the highlight training available to perform well on their job tasks. Sometimes training and education can be more of a hindrance than an aid. Public accounting firm personnel often have a difficult time with the various job responsibilities that have. Some believe additional training and education may help. Some believe it is a waste of time and resources to seek anything higher than CPA certification. Should public accounting firm personnel responsible for auditing information systems be required to have additional certification beyond the CPA? The answer is no.
Body

hy say no? It is first important to look at the reasoning behind the answer. One can do this by examining what CPA is and what it stands for. CPA is an acronym…

.." And "The probability that my peers would undertake the same action is...." It is the difference in the responses given to these two questions, as captured on a seven point Likert scale, that is the measure of the social desirability response bias. (Tyson: 1992; Cohen et al.: 1995, 1996, 2001).
Many studies have been done on the role and correlation between moral development and ethical decision making as it applies to various professionals. A majority of these research studies have found that such things as gender, education, age and taking ethics courses in school have some affect on one's moral reasoning developments (Armstrong: 1993; Elm, Kennedy & Lawton: 2001; Jones & Hiltebeitel: 1995; Ponemon & Glazer: 1990; Shaub: 1994). However, many studies have also found exactly the opposite, in that no significant relationship exists. (Ma & Chan: 1987; Rogers & Smith: 2001; Thorne, Massey & Magnan: 2003).

Studies have…

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…

Sarbanes-Oxley.
The political pressure of the past several years following the dot.com bubble and the collapse of several major companies created a need for new securities legislation, which culminated last year in the Sarbanes-Oxley Investor Protection Act, which establishes new guidelines for the securities industry. Initially a Democratic brainchild, the act became favored by epublicans in the House when it was realized that such adjustments would be of great benefit to shareholder value in that they enhanced general financial stability. This is the most prominent piece of financial legislation since the establishment of the Securities and Exchange Commission in the early 1930's. The most widely recognized feature of the new legislation, which was introduced in 1992, is that board members are held personally and criminally liable for the accounting practices that the company employees. This act also establishes guidelines as to the coverage of securities by sell-side analysts who face…

In relation, this is also because the responsibilities of a CPA is chiefly based on financial and economic aspects of every organization around him as well as the economic standing of the entire nation.
The Importance of CPA to the Society

CPA plays a very important role to the society. Let's start in the general and most important area where CPA can greatly affect the entire society. That is, the role of CPAs in a nation's government. CPAs working for the government has the responsibility of maintaining a good financial condition of the country. Without them, it is possible that the financial budget of a nation may go out of what is necessary.

From the history of the United States' public accounting, Flesher and his colleagues, from their article The First Century of the CPA, indicates the significant role that certified public accountants have played in the industry of banking…

Other industry concerns and costs that would have affected both stakeholders and investors is the overall cost of updating computer accounting systems and process to account for the new methodologies. The airline industry most likely would have had to drop the frequent flier campaigns even though they were very successful marketing campaigns due to the fact that the new deferred revenue method would have implied too many costs to make the programs worthwhile.
Conclusion

In conclusion, this essay involved collecting and summarizing research in regard to a specific company or industry that experienced accounting issues or an accounting issue. The focus of the essay was on United Airlines but it could have been applied to any other major airline. The main research came from a December 1991 story by Charles W. Taylor entitled "Airline Accounting: AICPA vs. FASB," which was on the December CPA Journal Online. The paper incorporated an…

ethics in the business and accounting communities has been a topic of broad discussion. From the collapse of Enron to the mishaps of Andersen the country has seen the most tumultuous ethical behavior in the history of our nation. The purpose of this discussion is to define ethics and the reasons why ethical behavior is important among accountants and business leaders. e will also explore ethical codes within the accounting and business communities. In addition we will provide examples of corporations that have performed both ethically and unethically. Finally we will focus on what changes need to be made to encourage ethical behavior.
Defining Ethics

Ethics is defined as the science of morality. (The Macmillan Encyclopedia) The Oxford Dictionary of Business defines ethical behavior as "Behavior judged to be good, just, right, and honorable, based on principles or guides from a specific ethical theory. However, ethical theories may vary from…

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…

Enron could engage in their derivative trading strategy with no fear of government intervention because derivative trading was specifically exempted from government regulation. Due in part to a ruling by the Commodity Futures Trading Commission's (CFTC) chairwoman, Wendy Graham, derivatives remained free of regulatory oversight. Ms. Graham, wife of Texas senator Phil Graham, made this ruling 5 weeks before resigning as chairwoman of the CFTC and joining the Enron oard of Directors in 1993.

Derivative accounting is further complicated because there is no consistent way to fairly report their value and risk in a company's financial report. In 1998 Rule No. 133, "Accounting for Derivative Instruments and Hedging Activities" was developed by the Financial Accounting Standards oard (FAS), an independent agency that sets guidelines for corporate auditors. Rule 133 contains more than 800 pages, which further complicates its adoption and consistent interpretation by various companies. SFAS No. 133 was subsequently…

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…

462). It is small wonder that some insurance companies understand the risks of insuring lives and the accompanying cash surrender values of a life insurance policy.
In a prime example of how some insurance companies were caught up in the evaluation game is the case of AIG, the company that forgot that the value of its stock, or the value of the company was based primarily on a fair value, that might not have been fair at all. The harbinger of disaster was when the financial marketplace placed a fair value on AIG that was far below what the company believed it should be. This scarcity could be one of the primary reasons why the financial industries around the world are in the torrents they are currently swimming.

Some of the literature available touched on the primary causes of the current financial crisis before it took place. One recent study…

Small Business Success
The author of this report is asked to offer a small business and human resources plan given a certain scenario. A small business with close to one hundred employees is still lacking a distinct and separate human resources department. This is where the author of this report is asked to step in and fill that void. The author of this report will use a company with which the author is familiar as a basis for this review and analysis. Overall, the points of analysis will include the direction and strategy of the company over the next five to ten years, an overall human resources strategy that will be used, the competitive advantage that can be associated with that strategy, and a human resources scorecard that includes the proper four dimensions of financial, customer service, internal process and learning/growth/sustainability. While human resources is not a distinct and focused…

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…

Healthcare Financial Statements emphasizes on how accountants belonging to a healthcare organization make use of the accounts rule to evaluate their organization's financial statements. This paper also outlines the troubles a company could be into if its manager has no knowledge of interpreting the financial statements. This paper also highlights the steps taken by managers who have no background of finance.
Healthcare Financial Statements

All organizations whether they are linked to business, education or healthcare make excessive use of Accounts and Financial Statements to keep a check on their finances. If financial statements are not maintained then a check on the company's profit or loss or simple money expenditure cannot be analyzed. Hence, it is extremely important for healthcare organizations to acquire professional accounting services. Personnel who are in charge of the accounting department need to establish what and how the procedures will be carried out. An organization that is…

For example, managers can increase productivity by assigning the right number of employees to each project, avoiding over- or understaffing. Managers should also be sensitive to interaction problems between employees. When managers are aware of personality conflicts between employees, they should avoid assigning them to the same team.
Increasing productivity involves a careful study of employees' work performance and of managerial decisions, a daunting process in which individuals may feel unfairly singled out or victimized. While this process is painful, it is appropriate when responsibility for low productivity clearly lies with certain individuals. if, however, it is not obvious who the culprits are, the best approach to take is to consider not only individual responsibility, but also search for larger systematic factors behind the low productivity. The problem may be a result of poor management of people and inadequate allocation of resources. Alternatively, it could be the result of an…

Auditing; Topic: Materiality in Auditing
With respect to the field of auditing, materiality is a critically important concept addressing the significance of discrepancies, amounts, and transactions. Specific materiality guidelines are required in accounting practices to avoid judgmental (legal) decisions. Materiality is applied for most, if not all, economic decisions, and the topic of materiality is not a new issue. Disclosures in re financial statements have been emphasized by courts in the United Kingdom since the 1800's, whereas materiality initially rose to importance in the United States following 1933's Security act. The significance of the materiality concept and its implications are pertinent to business decisions, as well as for analysis and preparation of financial statements and in order to apply GAAP, generally accepted accounting principles.

For the accounting field, as well as for all fields of management, the concept of materiality is central to decision making. If something is considered to…

Financial Analysis
Compilation Report

I (We) have compiled an accompanying Statement of Financial Performance and Statement of Financial Position as of (at) June 30, XXXX, in accordance with the Statements of Standards (Putra, 2012) and Review Services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statement information that is the representation of management (owners). I (We) have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or other form of assurance on them (Putra, 2009).

The sale of the appliance is recorded by transaction date in the general ledger, cash receipts journal, sales journal, and have a dated cash register receipt and sales receipt. The general ledger has a debit of cash for $800 and a credit to sales for $800. Transactions are recorded by the Accounts Receivable Clerk and verified and…

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…

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…

Admission to graduate school depends on the test takers scores on the verbal and quantitative sections of the GRE.
ackground of the GRE

Historically speaking, there has been widespread criticism of the GRE, as some have argued for decades that GRE scores do not constitute a meaningful measure of a potential graduate student's knowledge or capability for success. Many schools and universities have disagreed with the subject test requirements, and the GRE has been considered in certain historic times as irrelevant. In fact, recent reports and questionnaires indicate that the GRE is not as significant in determining graduate admissions as once believed. Researchers have suggested implementations and changes in the GRE that would make it more realistically predictive, such as the development of improved versions of GRE test subjects in more areas of the social sciences. The graduate schools could use these social science scores to as a better gauge…

performance indicators and internal budget controls like reviewing staff hours can be used to assess individual and organizational accountability. Strict AICPA standards are required for the peer-review process. In addition, internal budget controls are also effective performance indicators.
The American Institute of Certified Public Accountants (AICPA) has published extensive and strict guidelines regarding the CPA peer review process (AICPA). The standards for membership in the AICPA are strict, "to retain their membership in the American Institute of Certified Public Accountants (AICPA) members of the AICPA who are engaged in the practice of public accounting in the United States or its territories are required to be practicing as partners or employees of firms enrolled in an approved practice-monitoring program..."

In accordance with the AICPA standards, the firm will chose a single, qualified CPA from a list provided by the AICPA to conduct a peer review. This person will review working conditions,…

GAAP is a set of specific common guidelines, provided by the institutions such as the Financial Accounting Standards oard, the American Institute of Certified Public Accountants and the Securities and Exchange Commission, about "acceptable accounting practices"
These acceptable practices should not necessarily be regarded as a set of ground rules. In fact, it is a common denominator, useful when foreign firms, especially auditing companies, proceed to financial verifications. The GAAP provide for an easier task from the auditing companies and anybody else who interprets the financial statements.

In the case of Legal Plan Services, the GAAP guidelines will provide the necessary information that will permit a common evaluation, a common ground on which revenue and expenses can be considered. esides being interpretable by more than one side, the GAAP guidelines are, in this case, rules which allow for the company's accounting methods to be understood by others and would permit,…

Internal evenue Service's Use of Circular 230 to egulate Tax Preparers
An oft repeated maxim in American history states sardonically that "in this world nothing can be said to be certain, except for death and taxes" (Franklin, 1840), and under the modern statutes of federal tax code that observation has never been more prescient. With taxes imposed by local, state and federal governments throughout the entirety of our natural lives, Americans living in 2012 may be facing the most extensive excises ever levied by one nation on its citizenry. Considering the dreaded annual income tax, the sales taxes added to the cost of consumer goods, and property taxes attached to home valuations, the average person is compelled to contribute thousands of dollars annually to support the revenue shortages of a mismanaged federal government. Even the choice to gift a sum of money to your child, spouse or lifelong friend, perhaps…

Then again, even the sites that allow for such commentary often don't receive any. PwC IFS hasn't received any comments in the past month on any of its articles, for instance, though it does provide accurate and fairly up-to-date information. Part of the reason for this could be the fact that this blog, like many others in the accounting world, are run by large firms -- Price Waterhouse Coopers, in this case. Though this does not mean there is necessarily a bias at work in the blog, and indeed certain differing opinions are allowed, the fact that the information on such blogs is so directly under the control of a single for-profit entity means it must be regarded as at least slightly suspect. As these resources are also free, however, there is no harm in regularly browsing them.

eferences

Accounting and Business esearch. Accessed via EBSCO 8 October 2009.

Accounting…

One such exemplary resource is Epicor's recent guide, "Managing Today's Professional Services Organization: How to Improve Efficiency and Increase Profits" (2011). Although the guide contains some self-serving information concerning Epicor's own IT product line, the bulk of the guide is devoted to timely and informative insights concerning how IT can facilitate project delivery in professional services organizations. For instance, according to Epicor's guide:
Ultimately, a successful operational model demands higher-order tools such as resource, opportunity and knowledge management to achieve operational best practices. The reality facing most organizations, from small, specialized firms to the largest, most sophisticated multinational consulting agencies, is the same -- each faces significant challenges related to accurately and efficiently capturing time and expense, managing work-in-progress, generating and approving invoices, and reporting on project and client status. (Managing today's professional services organization, 2011, p. 1)

Given the wide array of enterprises that now fall under the umbrella…

My work experience and responsibilities have included retail and sales, and working at the Blackwell Hotel. The hotel is affiliated with the Fisher College of Business. In this job, I have had opportunities to meet many professors and graduate students from the College while working as a server for the Grab 'n' Go sandwich shop. This work experience has helped to increase my knowledge of service-related business practices and of people in general, professionally and personally.
In addition, I have worked in the past for my aunt, who is an accomplished, and very experienced, business entrepreneur. My aunt has taught me a great deal about the business world and about interfacing with varied and diverse groups of people in a constructive business capacity. She owns a business that focuses on helping women from all walks of life begin their careers through investing in their own businesses, and themselves.

In applying…

These interests underscore a premise concerning my professional development in a larger sense, which denotes that it is not simply advancement that will be gained through a continued acquisition of knowledge but that, indeed, such development may be necessary to simply remain competitive and competent in the field.
This is underscored by the premise arguing that "knowledge in many fields is doubling every two to three years, and your personal interests and needs are changing constantly. Being a motivated lifelong learner will allow you to ride the waves of change, remaining able to manage and achieve your evolving career and personal goals." (Carter et al., 3) Drawn from the report entitled Keys to College Studying, this offers the sentiment that my future is likely to be considerably more open to opportunity if I continue to strive to be knowledgeable and to remain active in my professional education.

Perhaps more than…

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…

On the other hand, Enormo Corp is a big client for CPA, and exposing its case to authorities, would mean losing it.
As an alternative, CPA can refuse to work with Enormo Corp in this case and Enormo would be forced to resort to a different auditing company.

3. ecommended course of action. CPA has the right to handle this situation with the client, while trying to continue to have a professional relationship in the future. So, the suggested course of action would be to address the issue to a higher authority, start documenting it and explain to the client the implication of such documentation. The auditing firm also has the right to protect its integrity, so in this case it is essential to document the findings. However, since there is no rule that forces the auditor to report such discrepancy, the auditor will chose to restrict its actions to…

edesign and Workplace Assessment
What goes into the accountant profession? Are many responsibilities placed on the individual as well as the business? How does one remain motivated through his or her daily work activities? Will he or she become a success through these endeavors? One will discuss job redesign and workplace rewards.

Certified Public Accountants (CPA) have an impact at every organization they work at on a regular basis. Many in this profession rely on their firm to teach them the necessary information needed in order to understand what is required of them, such as ethics and culture. Training is involved for a new employee as well. In order for a CPA to do their job effectively, he or she has to follow a code of ethics. This lies with the individual rather than the company (Colson, 2003). "Professionals are expected to follow their profession's ethical codes even when these…

Success cannot be genealized; too often the wod is used as a tem efeing to financial independence o owning one's own company. Yet the sanitation woke who goes to bed each night with a smile on he face also connotes success in the moden wold. I suppot a multiplicity of success, a divesity of deams fulfilled.
My success, howeve, definitely includes financial independence and caee ecognition, but it also includes the clea conscience that comes fom knowing that I did it all by and fo myself, with confidence and conviction. Like Roak in Rand's book, I got whee I am today due to my had wok and not hand-outs. Thus fa I have not compomised my beliefs o goals to fit with pevailing noms, just as Roak would not deign to design that which disgusted him o sell out. Like Roak I listen to intenal cues and heed not the…

family influenced your career direction in both subtle and direct ways?
My grandparents, parents and siblings have all influenced my career direction in direct and indirect (but sometimes not so subtle) ways. For instance, my paternal grandfather always insisted that I should attend college and "make something of myself" because he never had the opportunity. Likewise, my maternal grandmother consistently encouraged me to pursue a career in art because I liked to draw and once drew a picture when I was 10 years old that looked vaguely like her (she still has it framed and hung on her bedroom wall). My father is adamant that I should become some type of professional ("It doesn't matter what kind, just learn how to do something people will pay you a lot of money to do"). In addition, my older brother (a certified public accountant with an insurance company) has encouraged me to…

Accounting - CPA Letter to Client
John Smith

Certified Public Accountant

Pine Accountants Company

Dear Sir/Madam,

E: CAPITAL STUCTUE OF A NEW COPOATION

When starting a company, there is need for financial capital, which is necessitated for the operation of the business. This financial capital is done either through debt or equity, which make up the company's capital structure. The main issue here is to determine which of these two options are best for your start-up company.

Equity financing does have its benefits. For starters, the funding will be dedicated to your business and the intended business operations. In addition, there will be no hassle for keeping up with the costs of debt finance, which will allow you to use the capital acquired for business activities. More importantly, the equity investors, similar to you, will have a vested interest in the success of the business. Equity financing does not face…