Collaborative Effort of Practicing Accountants and the Academia By Abubakar Salisu B. Sc‚ M.Sc‚ MBA‚ ACA‚ AMNIM Lecturer‚ Department of Accounting‚ Ahmadu Bello University‚ Zaria. ABSTRACT The Nigerian environment of accountancy profession has found it difficult to bring together accountants in the academics and in practice for the advancement of the profession. Whereas the accountants in practice are viewed as the real professional accountants; accountants in the academics are mostly considered
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through profession as an accountant. Many people take on jobs calculating income taxes and payroll for numerous Fortune 500 companies. These jobs consist of but are not limited to bookkeeping‚ payroll clerks‚ auditors‚ controllers‚ general accountants and budget analysts. Many of these positions require specialized training that is relative to the specific duties the individuals will be conducting in their job field. For example‚ according to the textbook‚ cost accountants must receive a CMA certificate
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| |Professional Accountants in Public Practice | | | | | Ethical Dillemma Case Studies Professional Accountants in Public Practice Case Study 1 DEALING WITH STAFF PERFORMANCE
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assignment is regarding to accountants‚ a professional career‚ meant to be very important to corporation or public because it is the base that offers great support to management for planning‚ controlling as well as decision making process. As far as people is concerned‚ accountants as information keepers and produce financial reports to stakeholders face major ethical challenges such as misrepresenting or misstatements in financial statements etc. However‚ accountants are required to behave ethically
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those two characteristics. There are many careers that are essentially a service to others. I can only hope that my accounting mindset will be just that: a service to others. If my abilities‚ desires‚ and opportunities all aligned my life as an accountant would be perfect. I would see my dreams of becoming a Chief Executive Officer (CEO) come true; however‚ the title CEO would mean more to me than just a status. It would boost my inner confidence and reassure me that I can achieve my dreams with
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of work‚ using work equipment for personal use‚ taking things from work to your home‚ and in the accounting world- embezzling money from others for financial gain. There is no reason for unethical behavior except for self interest and greed. Accountants might falsify reports with bad information for a company so that they would have a better outcome on their papers‚ or to cover up something that is going on with the money. This would also include falsifying and altering business documents like
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filing that they were restating its earnings since 1997‚ and this would reflect a $586 million dollar reeducation. They reported this only a couple months after there first quarterly loss‚ this loss was the first in four years. In this case a;; the accountants were charged with preparing inaccurate information. This lead the investors to invest in something that was not there and something that was not true. All investors are relying on a company to have accurate financial information. This is how investors
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related to companies’ business processes and the related controls in place to minimize those risks. Public accounting‚ tax - Tax accountants prepare individual and corporate tax returns‚ provide their clients with advice on how best to structure business transactions to minimize current and future taxes‚ and engage in estate planning. Private industry - Accountants employed in private industry are involved in preparing budgets‚ analyzing variances‚ costing products and services‚ and evaluating
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will be his to explain his dilemma. Second he has another option to resolve his dilemma by telling the problem direct to the manager. Question 3: Consider the impact of this company’s approach on young accountants. How could working long hours be an ethical problem? Answer: For the young accountant‚ long
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MBA 607 – Financial Accounting The Nature and Purpose of Accounting Accounting Purpose and Process 1 MBA 607 – Financial Accounting The Nature and Purpose of Accounting 1. The Need for Accounting Information 2. The Accounting Profession 3. Financial Statements Accounting Purpose and Process 2 MBA 607 – Financial Accounting 1. The need for Accounting Information A. Framework Stakeholders (creditors‚ shareholders‚ regulators) in an entity require quantitative information on the financial
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