complexity Accounting Information Systems have been created to alleviate some of the pressures facing accountants. According to Frederick Jones and Dasaratha Rama (2006)‚ Enterprise Resource Planning (ERP) systems are moving businesses from the functional approach to an integrated approach for managing transactions (p.684). Having knowledge and experience with the technological advances will help the accountant become more successful. Companies‚ such as CBU from the case study‚ must be able to effectively
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transactions‚ long considered a core competency of accountants‚ will be challenged by the information economy‚ forcing accountants to justify their role in business. The foundations of the profession will be eroded by the opposing demands of emerging services and established values. The prospects for accountants have never looked better: There is a growing demand for the provision and analysis of information in the new economy. But the value chain that accountants used to dominate‚ that between the firm and
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Reaction Paper Asian and Global Crisis During the Asian and Global Crisis many of the criticisms are against accounting and accountants. In my further readings‚ I’ve read that during the Asian Crisis in 1997‚ where affected countries suffered severe setbacks in their economies and where development stagnated‚ the accountancy profession‚ including its standards‚ policies and levels of information disclosures‚ had played a role in the start of the crisis‚ and perhaps had even worsened it. Moreover
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Why Do You Want to be a Professional Accountant Professional accountant is practitioner who help manager‚ investor and others make the better decision about how to allocate organization’s resource by measuring and disclosing assurance of financial report. From my perspective‚ professional accountant is not only play an important role in business world but also play an important role in the society. Being as a professional accountant opens the door to a vest range of career opportunities‚ in every
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represented 51.1% of the bookkeepers then employed (Business and Economics History‚ pg. 79). Out of these masses only 18265 women were later employed as accountants or auditors. Colleges in the past discouraged women from studying accounting courses (Lasseter‚ 1945). However the accounting profession has experienced large pool of female accountants in recent times. The fact remains‚ women are behind in terms of progression to senior positions as compared to their male counterparts. The accounting
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investment is safe. It is therefore imperative that the accounts must be checked and audited to assure the shareholders that accounts have been properly maintained. Therefore auditing is based on accountancy and not accountancy on auditing. An accountant drafts balance sheet and profit and loss account while an auditor has no duty to prepare such accounts but to certify that they are correct‚ properly drawn up and that they reveal true and fair view of the state of affairs of the concern. Difference
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quality for the accounting professional to possess is integrity. When the accountant behaves with integrity‚ it will instill trust and confidence in his profession. The accountant must follow the generally accepted accounting principles (GAAP) that have been set by the accounting profession. These guidelines are a broad set of rules‚ and there is room for interpretation. When interpreting these guidelines‚ the accountant should rely on personal integrity. Section 406 of The Sarbanes-Oxley Act
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7. ETHICAL ISSUES IN ACCOUNTING "Accountants and the accountancy profession exist as a means of public service; the distinction which separates a profession from a mere means of livelihood is that the profession is accountable to standards of the public interest‚ and beyond the compensation paid by clients." —Robert H. Montgomery‚ describing ethics in accounting. Accounting ethics is primarily a field of applied ethics‚ the study of moral values and judgments as they apply
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corporations’‚ Asian AAA World Conference in Singapore‚ Singapore‚ viewed 2 April 2012‚ . Institute of Chartered Accountants in Australia 2011‚ Auditing Competency Standard for Registration as a Registered Company Auditor‚ Chartered Accountants‚ viewed 17 March 2012‚ . Institute of Chartered Accountants in Australia 2010‚ Quality review: past‚ present and future‚ Chartered Accountants‚ viewed 22 March 2012‚ Leung‚ P & Coram‚ P & Cooper‚ B 2011‚ edition 5th‚ pp. 131-144‚ Wiley‚ Milton Queensland‚
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November 13‚ 2011 Information technology has revolutionized the way accounting is done. Long gone is the time of manually entering numbers into big bulky ledgers and journal books. Technology has also taken away the stigma associated with accountants. They have long been considered “bean counters” and introverts. This is no longer the case since leaning over ledgers and adding numbers on a calculator all day is a thing of the past. People skills have emerged as an important part of the accounting
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