ACCG 399 Reflection Learning Log Lecture 1 Financial Accounting is highlighted in the lecture. There are two key points of financial accounting. Firstly‚ financial accounting is a process involving the collection and processing of financial information to meet the decision-making needs of parties external to an orgnisation. The other one is related to laws and accounting standards‚ external reporting‚ financial statements‚ values and material‚ independent audit opinion‚ overview general purpose
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How Values Affect Decisions in Personal and Professional Life Shaundrea Sager University of Phoenix Abstract Many people have a set of core values‚ either personal‚ organizational‚ or cultural‚ that help guide his or her life‚ and that assist him or her in making decisions in their everyday existence. Most of my decisions are based on how they will affect my family‚ me‚ and my career. My family is the key factor in any decision I make. I have to consider what influence my
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CULTURE AND ETHICS IN GHANAIAN PROFESSIONAL LIFE Cultural elements invariably affect the delivery of professional services in whatsoever form. Professional practices are strongly guided by appropriate code of ethics. Sound ethical decision making is based on a process that involves multiple steps some of which are taken in advance and some of which are taken at the time ethical dilemma presents itself (Carter‚ Bennett‚ Jones & Naggy‚ 1999). The development and the application of ethical principles
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Chapter 29: Code of professional conduct * What guidance is provided to help AICPA members follow the Code Of Professional Conduct? Provides general guidance on professional responsibilities‚ the public interest‚ integrity‚ objectivity and independence‚ due care‚ and the scope and nature of services without establishing specific standards. Nevertheless‚ every practitioner should read them. An understanding of the difference between independence and objectivity is important particularly
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today ’s diverse world‚ ethics in accounting and financial decision- making is a process that many organizations have trouble dealing with. Many organizations put emphasis on ethics and the financial decision making process within the organizations( www.managemyaccounting.com(2007). It is expected that all organizations will behave in an ethical manner in the current economy. (www.managemyaccounting.com(2007). In today ’s business world‚ it is difficult to define what ethics are because of the different
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Music is a way to make connections to different feelings and memories of different events that took place. Music has impacted my life in many ways‚ for example it can make me happy when I am sad‚ and bring memories back to mind when I hear specific songs. Music has influenced my life because of the memories and feelings that can be connected to songs I have listened to. Some of my favorite childhood memories are connected through songs I loved as a kid. The lyrics “Like baby‚ baby‚ baby‚ oh” from
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College has impacted my life in many ways‚ and has taught me many life lessons. For one don’t procrastinate till the last minute before your exam. I believe the phrase “college is the best times of your life” is the best way to describe it. College has taught me so much it taught me not to procrastinate‚ how to manage my social life‚ and it also taught me how to balance my extra curriculum activities. In life we all struggle with procrastination‚ procrastination is a deadly illness that
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Ethics in Accounting • • • • • • • • Systematic body of theory and knowledge Extensive education process for its members Ideal of service to the community High degree of autonomy and independence Code of ethics for its members Distinctive ethos/culture Application of professional judgment Existence of a governing body Attributes of a profession • Service ideal • Market control view The service ideal vs. the market control view Accountants work in: • private companies
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Running head: Professional Ethics and Values Professional Ethics and Values Every day we make judgments about the things around us‚ often without giving conscious thought as we perceive something the way we do. It is often our values and ethics that cause us to assess and respond to things as desirable or undesirable‚ good or bad. According to The Encyclopedia of Psychology (Corsini ed. 1994 p.)‚ a value is “an enduring belief that a specific principle‚ standard or quality is regarded
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Importance of Accounting in Your Daily Life Accounting is the subject that is used in many fields of life sphere. It can be used in many activities such as paying off various bills‚ managing the wages of the staffs in an organization‚ paying taxes and also keeping track of the daily expenses. For paying bills Paying bills is a sort of hectic task for many individuals. At homes it is though‚ okay but for payment of bills in an organization‚ they need to adapt to an accounting process. In big
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