answersLogoWhite

0

Accounting aims to provide useful information for decision-making. For information to be useful, it must be trusted. Trustworthiness of information demands ethics in accounting.

User Avatar

Wiki User

13y ago

What else can I help you with?

Continue Learning about Accounting

What subject are includes in Accounting course?

An Accounting course typically includes subjects such as financial accounting, managerial accounting, taxation, auditing, and cost accounting. Students also study topics like accounting principles, financial statement analysis, and the use of accounting software. Additionally, courses may cover ethics in accounting and regulatory standards. Overall, the curriculum aims to equip students with the skills necessary for financial reporting and decision-making in business.


Fraud and ethics in managerial accounting?

A managerial accountant is a person who controls the financial information for a company. Ethics require that managerial accountants keep company financial records completely confidential, and they should objectively inform their clients of all relevant financial information.


What does accounting services have to do with business to business services?

Accounting services are a crucial part of business to business service. This ensures that all of your bookkeeping is done in a fair and balanced way between companies and businesses.


What are the difference between Accounting policies and Accounting base's?

Accounting policies are the specific principles, bases, conventions, rules, and practices applied by an entity in preparing and presenting its financial statements. In contrast, accounting bases refer to the underlying framework or assumptions used to measure and recognize financial transactions, such as cash basis or accrual basis accounting. Essentially, while accounting policies dictate how an entity applies the accounting standards, accounting bases determine the timing and recognition of revenues and expenses. Both are crucial for ensuring consistency and comparability in financial reporting.


Presently the dominant body in the development of accounting priciples is the?

Presently, the dominant body in the development of accounting principles is the Financial Accounting Standards Board (FASB) in the United States. FASB is responsible for establishing and improving generally accepted accounting principles (GAAP). Additionally, the International Accounting Standards Board (IASB) plays a crucial role in the global context by developing International Financial Reporting Standards (IFRS), which aim to unify accounting practices across different countries. Both organizations significantly influence accounting standards worldwide.

Related Questions

What is accounting ethics?

Accounting ethics is primarily a field of applied ethics, the study of moral values and judgments as they apply to accountancy. It is an example of professional ethics.


Definition of ethics of accounting information?

Ethics of accounting information is providing accounting information to make good economic decisions in the financial statement of the organization.


What are most common guidelines to have accounting ethics?

Ethic in accounting refers to doing only those things you can admit to doing in public. If you wouldn't want your name to be associated with it, then you shouldn't do it because it is likely unethical.


What ethics apply to an accounting firm that offer other firms with accounting services?

The accountants and CPAs of an accounting should always practice sound moral judgment while delivering accounting services to other firms. Thus, the key ethics apply to an accounting firm are integrity, objectivity and independence and due care.


Why is code of ethics and conduct crucial one in customer care?

why is the code of ethics and conduct crucial once in customer care?with example describe


What has the author Steven M Mintz written?

Steven M. Mintz has written: 'Instructor's manual and case notes for Cases in accounting ethics & professionalism' 'Ethical Obligations and Decision-Making in Accounting' 'Instructor's manual to accompany Cases in accounting ethics and professionalism'


What has the author Leonard J Brooks written?

Leonard J Brooks has written: 'Business & professional ethics for directors, executives & accountants' -- subject(s): Accountants, Accounting, Business ethics, Executives, Moral and ethical aspects, Moral and ethical aspects of Accounting, Professional ethics


What has the author Philip G Cottell written?

Philip G. Cottell has written: 'Accounting ethics' -- subject(s): Accountants, Professional ethics


What is the role of statistics in accounting?

Statistics play a very vital role in accounting. They help in the interpretation of data which is crucial for making proper accounting decisions.


What is code of ethics of professional accountant in the Philippines?

accounting code of ethics in the Philippines is basically the principles regarding the retention of the good reputation as a professional accountant.............that's all thank you


What is the relevance of philosophy to accounting?

Much of philosophy is concerned with morals and ethics. Accoutancy is all about - or should be all about - ethical accounting of business transactions. The current malaise in the financial markets shows that morals and ethics have not been as prominent as they probably ought to have been in the minds of many people.


What happened as a result of the first accounting examination in 1896?

This led to the issuance of a state license to practice as a CPA and the emergence of accounting as a profession with education requirements, professional standards, and a code of professional ethics.