...Abstract This paper is on the based on ethical issues in financial accounting, I picked this subject because I believe that having good morals and ethics is the mainstay of life in general, But in finance and accounting it is very important to have this to be successful in business, which is based on personal, professional and corporate issues that will arise in day to day operation. Introduction Accounting is the profession of Analyzing, collection, recording and posting financial transactions in a manner to provide useful information essential to making financial decisions by leaders in a business or organization. Accounting is also called the language of business. The financial statements are used to communicate the effects of the operation and financial strength of a business or organization. By making comparisons of statements from a company from year to year, a professional could be able to predict the profitability, direction and financial condition of a business or organization (Juan, 2007). It is important that the accounting practice is immune to greed and selfishness, and should be a free emotional reporting function which requires a skillset to handle complex technical skills but have no moral involvement. People think on most financial issues or scandals are problems of disloyalty and distrust (Senaratne, 2011). Can we trust those who run the finances in today’s world? Can Accountants, auditors, bankers can be trusted? Yet when an issue is not...
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...Level of Development and Level of Detail came into play with the advancement of computers and BIM technology. As the AEC industry began move towards using computer renditions for design and analysis, it became necessary to define the certainty with which drawings could be trusted. The detailing of elements changes throughout the duration of a project, so it is important for the team to be able to recognize what level of detail is provided and how trustworthy it is. For this reason, different levels of development were created to allow for a standardized system of analyzing drawings and details. Level of Development vs. Level of Detail The level of Development (LOD) enables construction teams to specify and distinguish the content and reliability of Building Information Models at various stages of the design and construction process with high levels of clarity and reliability. The LOD describes the minimum dimensional, spatial, quantitative, and qualitative data included in a Model Element to support the authorized uses associated with such LOD. Since each Model Element develops at a different rate, the Level of Development (LOD) framework allows the project team to understand the progression of a Model Element from conceptual idea to precise final definition and description. The LOD of a given Model Element informs other Project Participants how developed the information is expected to be. This allows participants to extent to decipher which that information can be relied...
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...VOCABULABY New words | Part of speech | Definition | Making sentences | Intervention | n | The act of becoming involved in an argument, fight, or other difficult situation in order to change what happens | The intervention of Union helps to prevent the conflict between Pakistan and Iran | Dubious | adj | Feeling doubt or not feeling certain | I'm dubious about his promises to change his ways. | Inextricably | adv | If two or more things are inextricably linked etc, they are very closely related and affect each other | His name was inextricably linked with the environmental movement. | Assiduous | adj | Showing hard work, care and attention to detail | The Government has been assiduous in the fight against inflation. | Augment | v | To increase the size or value of something by adding something to it | He would have to find work to augment his income. | Inferior | adj | Not good, or not as good as someone or something else | These products are inferior to those we bought last year. | Relegate | v | To put something into a lower or less important rank or position | She resigned when she was relegated to a desk job. | Debilitate | v | To make someone or something physically weak | Progress has been debilitated by a refusal to share ideas. | Prescribe | v | To say what medical treatment someone should have | The drug is often prescribed for ulcers. | Taint | v | To spoil something, especially food or blood, by adding a harmful substance, or...
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...Act Answer to Question No. 1 As the conclusion of where I will join college next year rapidly advanced, I decided to enquire the foremost I have selected, Accounting. Because my aim is to become a declared Public Accountant (CPA), I would like to understand more of what it entails. considering with figures, and notes and projecting the profits of a business, accountants are put with the blame of keeping track of the moneys of a business. God has blessed me with abilities in the areas of numbers and association, which initiated me to gaze for an occupation that utilizes both. Accounting appeared a logical alternative since they largely work with numbers and coordinate their clients' money. In alignment to become a CPA, one must obtain a bachelor's degree and work for a prescribed number of hours for a peak accounting firm. Covering a broad spectrum of enterprise associated specialization, accountants and those who proceed as auditors must be adept to determine whether or not a company is utilising their assets efficiently and if they are rightly recording the moneys they come in communicate with. I am cognizant that accountants work with cash and the documenting of it but would like to ascertain exactly what additional the job of a CPA comprises of. Answer to Question No. 2 Since the latest worsening of the American finances and job market, I began to ponder how very simple it would be to attain a job as an accountant. According to Steve French, an accountant for...
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...Detailed Job Description Job title: (insert job title) Reporting to: (insert supervisor’s title) Salary: (insert salary per hour, per annum or total package including base salary, superannuation, commissions or benefits) Hours: (insert average number of hours per week or type of employment such as casual, full-time) Location: (insert the location of the position and any travel required) Purpose of the position (Insert a short paragraph which describes the overall purpose of this position and how it contributes to the goals or function of the business. Include the authority level, for example, “manager” or “support staff”) Responsibilities & duties Responsibility 1 – (insert responsibility or duty of the position including frequency or duration of work, effort and skill required, complexity of tasks and equipment required) Work standard: (insert what aspect of the responsibility will be reviewed to determine if the job is being done correctly, for example, time frame, or number of completed tasks per week) Responsibility 2 – for example, “to manage the daily operations of the office including organising mail, couriers, catering and travel. Staff need to be able to use MS EXCEL confidently, to arrange global travel and to work on their own.” Work standard – for example, “at the end of each working week, all catering events for the following week must be finalised.” Responsibility 3 – (insert additional items as needed) Work standard – (insert additional items as...
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...that you follow your supervisors direction at all times. The only exception to this would be if you were directed to perform a task that was unethical, illegal, or unsafe. In the future if you fail to follow any company policy you will be subject to disciplinary action up to and including possible termination. Sincerely, Robert R. Smith Supervisor John E. Adams Employee My signature does not necessarily indicate that I am in agreement with the above statements; however, it does indicate that I was informed of the contents of this letter. Sample Employee Conduct Policy Every individual is expected to execute their assigned duties as directed during on duty time. Insuring quality in everything we do requires attention to detail and working quickly or carelessly has a negative impact on every aspect of our business. It is also critical to our success that every individual will respect and cooperate with other staff members, customers, and supervisors when performing their assigned duties. In the event there is ever a conflict it is the responsibility of everyone to bring that to the attention of their supervisor for resolution and will not engage with any...
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...ShaSha Lei How Psychology Affect My Career Decisions Our career choices are shaped by the personal interest and environment in our lives. This research paper will discuss how interest and environment influenced my career decisions throughout the years. Become a Magician, Veterinarian, Psychologist and Accountant are some of various my career selections in the past 18 years. My early childhood career selection was to become a Magician. Why would I want to become a Magician? Because I read a book called “Charlie and the Chocolate Factory” and I was attracted by those fancy events. In the book, Mr. Wonka has the biggest candy factory in the world, and he can turn impossible things into possible situations. I always thought it would be great if I can have the same ability as him. My career decisions became more realistic while in Middle School and the High School. When I was in Middle School, I wanted to become a Veterinarian after I got my first puppy. I love dogs, and I want to make Veterinarian profession my future career. I found some information about Veterinarians in “Wiki Answers”, which indicates that “Veterinarian are required to study a Biology related major and must graduate with a Doctor of Veterinary Medicine degree from a 6 year program at an accredited college (http://wiki.answers.com). After I saw this reference website; I choose to abandon this career choice because Science is not my favor subject. After Middle School, in High...
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...Time estimates for the questions are based on a three-hour examination. Candidates are responsible for managing the time allocation between the objective-format portion and the case portion as it will not be controlled as part of the examination. Until otherwise advised, for the Elective examinations, candidates can expect two cases for a total of 150 minutes, where the maximum time for any one case is 90 minutes and the minimum is 60 minutes. Candidates will be advised if and when the cases begin to exceed 90 minutes. Chartered Professional Accountants of Canada, CPA Canada, CPA are trademarks and/or certification marks of the Chartered Professional Accountants of Canada. © 2015, Chartered Professional Accountants of Canada. All Rights Reserved. Elective Modules Blueprint – Jan 2015 update FOR THE OBJECTIVE-FORMAT PORTION: ASSURANCE ELECTIVE COMPETENCY AREA WEIGHTINGS CPA Competency Range 1. Financial Reporting 20-40% 2. Strategy & Governance 0-10% 4. Assurance 50-70% 5. Finance 0-10% The objective-format questions will...
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...CPA Program Guide— professional level 2011 © CPA Australia 2011 CPA PROGRAM GUIDE—PROFESSIONAL LEVEL i Foreword Since its inception in 1986, the CPA Program has undergone many changes to maintain its relevance to the business world and ensure graduates are equipped to be leaders in finance, accounting and business advice. The CPA Program continues to be recognised as a leading professional program and receives strong endorsement by graduates. Over 75 000 members have completed the CPA Program to date. The CPA Program provides graduates with a world class, internationally recognised professional qualification. Employers need good strategists from a wide range of areas, whose skills are complemented by excellent business training. The CPA Program you are undertaking delivers top quality graduates who provide advice of the highest order to the business world. Approximately 23 000 CPA Australia members hold the position of General Manager, Financial Controller, Chief Financial Officer or Chief Executive Officer. CPA Australia strives to continually enhance the CPA Program’s global relevance and provide more ways for people to develop a career built on professional accounting skills. The CPA Program ensures candidates develop the appropriate skills, knowledge and values required of a CPA through a combination of coherent learning experiences. As shown in the following CPA Program diagram, the CPA Program formal education model consists of two levels: ■ The foundation...
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...financial reporting for roles as CPAs. Students learn important criteria for calculating capital changes, applying concepts of fixed assets and cost determination, and preparing consolidated financial statements. Other topics include the professional responsibilities of CPAs, deferred taxes, cash flow statements, balance sheet preparation, restructuring of troubled debt, and the intricacies of comprehensive income. Week 1 - Topic 1: Reporting Issues Objectives Differentiate among the services provided by auditors. Explain procedures for reporting accounting changes and error corrections. Describe the professional responsibilities of accountants in financial reporting. Compare and contrast the forms of business structure. Explain the methodology used to determine deferred taxes. Materials SUPPLEMENT: Week One Content Outline SUPPLEMENT: Week One Mind Map SUPPLEMENT: Week One Student Road Map SUPPLEMENT: Sample Final Exam EBOOK COLLECTION: Auditing and Assurance Services, Ch. 1 EBOOK COLLECTION: Intermediate Accounting, Ch. 19 EBOOK COLLECTION: Intermediate Accounting, Ch. 22 EBOOK COLLECTION: Advanced Accounting, Ch. 7 EBOOK COLLECTION: Financial Accounting Theory and Analysis, Ch. 17 Assessment Individual Assignment: CPA Report As the CPA for a large organization, your manager has asked you to provide information to outside CPAs who are examining a subsidiary that has been set up as a corporation. As part of their review, the CPAs have asked you to provide them...
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...for financial statements as a result of its authority for specifying reporting requirements considered necessary for fair disclosure to investors. The SEC has power to establish rules for any CPA associated with audited financial statement submitted to the commission. The SEC adopted rules strengthening auditor independence in January 2003 consistent with the requirements of the Sarbanes-Oxley Act. The SEC rules further restrict the provision of nonaudit services to audit clients, and they also include restrictions on employment of former audit firm employees by the client and provide for audit partner rotation to enhance independence. Although Smackey Dog Foods, Inc. is nonpublic companies, independence rule is applied same as public. Q2: Discuss the essential activities involved in the initial planning of an audit. How do these all specifically to the Smackey Dog Food client? Initial audit planning involves four things, all of which should be done early in the audit: 1. The auditor decides whether to accept a new client or continue serving an existing one. Smackey is a new client for Keller CPA. Before they accept the audit, Keller CPA examines the prospective Smackey’s standing in the business community, integrity, financial stability, audit fee and relations with its previous CPA firm. 2. The auditor identifies why the client wants or needs an audit. Smackey wants to have a loan to expand their facilities. Since Smackey has already a loan, the bank requires an audit...
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... |Syllabus | | |School of Business/Graduate | | |ACC/546 Version 2 | | |Auditing | Copyright © 2009, 2008, 2007 by University of Phoenix. All rights reserved. Course Description In this course, students focus on the auditing practice performed by public accountants. Topics include the CPA profession and the auditor’s role, planning the audit, audit reporting and required communications, evaluating internal controls, audit programs for current assets and liabilities, and audit programs for other business cycles. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend...
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...CPA Global – Digital Certificate Request Form This form should be used to request the registration and renewal of Digital Certificates. To ensure the request is actioned in a timely manner please ensure listed requirements accompany the application. Please complete ALL sections: |Required Certificate |Common Name |Subject Alternative |Web Server Software |Amount of years SSL is|Purpose of certificate| |Type (see Appendix 1 | |Names |Used to Generate CSR |required for | | |for list of applicable | | |(see Appendix 2 for | | | |software) | | |list of applicable | | | | | | |software) | | | |e.g. VeriSign Secure |www.cpaglobal.com | |Windows 2003 |1 years |B2B transmissions | |Site SSL | | |Enterprise Edition, | | | | | | |IIS 6.0 server | | | | | ...
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...[pic] |Course Syllabus School of Business ACC/544 Internal Control Systems | |Copyright © 2010, 2009, 2008 by University of Phoenix. All rights reserved. Course Description In this course, students gain a broad perspective of accounting and control that considers attainment of all goals of the organization, including those concerned with financial objectives. Topics include an overview of control, risk management, internal control systems, controls for current asset functions, controls for other accounting classifications, controls for information technology systems, and reporting on controls. Policies Students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Louwers, T. J., Ramsay, R., Sinason, D., & Strawser, J. (2007). Auditing and assurance services: A look beneath the surface (2nd ed.). New York, NY: McGraw-Hill. McCarthy, M. P. & Flynn, T. P. (2004). Risk from the CEO and board perspective: What all managers...
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...Memorandum To: Manager CC: CPA Report From: Victoria Callahan Date: 3/4/2013 Re: CPA Report Knowing what to write in the CPA report is important because of the information that is being used to make decision with. In the report it includes the questions that have been ask and what the responsibilities is for a CPA. The method that is used for deferred taxes is temporary difference. Temporary difference is the difference between the tax basis of an asset or liability and its reported (carrying or book) amount in the financial statements (Kieso, Wyegrandt, and Warfield, 2007). The reason is that the difference in the timing of the recording of the revenue and expenses. The accounting method that is used for deferred taxes is accrual. Deferred tax is recognized on the financial statements when the taxes are recognize on the asset or liability. The retrospective approach is an approach that the Financial Accounting Standards Board requires for companies when reporting accounting changes (Kieso, Wyegrandt, and Warfield, 2007). In this approach, when one would make the changes of the accounting principle he or she would go back in previous financial statement to make the changes. This would show the consistency in the company financial statements. When reporting an error the same principle applies. When making corrections to an error, one must restate the prior statement in order to correct the error. Afterwards, document what the error was and report it to the company management...
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