Ethics In Accounting And The Accounting Profession

ETHICS IN ACCOUNTING

Presented by:
Rojina Sapkota
Abhilasha Thapa
Pooja Shah
Sandeep Gautam
Mendhala Lama Gurung

AND
THE ACCOUNTING
PROFESSION

What is ETHICS?
-All about making right choices and producing good behavior

What is ETHICS in ACCOUNTING?
-Being responsible enough to behave as a TRUSTWORTHY accountant.

ROLE/IMPORTANCE OF
ETHICS IN ACCOUNTING
 To provide true knowledge of the financial transactions taking place.
 To ensure correct decision making

.

WHAT IS AN ETHICAL DILEMMA?
-A situation where it is difficult to choose between the equivalent choices.

WHAT IS ETHICAL DILEMMA IN
ACCOUNTING?
-Refers to when the usual accounting processes don’t resolve an accounting issue.

MORAL AND SOCIAL
CONTEXT OF ETHICAL
BEHAVIOR
• All decisions have a social and moral side to it
• They will affect some or all stakeholders PROCESS OF MAKING AN
ETHICAL DECISION
Analysis
• Identify the ethical dilemma
• Clash in accounting principles; no
GAAP to follow

Identificati on • Evaluate the key elements of the dilemma • Analyze the impact of different alternatives on the affected parties

• Select the most ethical alternative after considering all the aspects and their effects

Resolution

ACCOUNTANTS AND
ETHICAL JUDGMENTS
 The work of an accountant is anything but easy
 Subjective decisions need to be made
 Have a serious responsibility
 Hence called as professionals

THE ACCOUNTING
PROFESSION
The accounting profession is collectively, the professional bodies of accountants that establish & regulate trainings, entry standard & professional examinations as well as ethical & technical rules & guidelines. EMPLOYMENT BY PRIVATE
BUSINESS

Accountants perform a number of important functions for private organizations. The controller, the treasurer
& the director of internal auditing directly reports to the chief financial officer.
Chief Financial
Officer

Controller

Treasurer

Director of Internal
Auditing

EMPLOYMENT BY NONBUSINESS ENTITIES
 A need for