...IMPACT OF ETHICS EDUCATION ON DISCIPLINARY ACTIONS; A COMPARISON BETWEEN TEXAS AND OHIO Executive Summary In 2005, Texas began requiring the completion of a Board approved, university-level ethics course prior to sitting for the CPA exam in Texas. In 2004, Ohio began requiring regular ethics CPE for the first time. This paper evaluates the changes in the number of disciplinary actions and the type of code violations in these two states after implementation of new ethics requirements. The results indicate that as a percentage of violations, Texas has seen a significant increase in felony convictions, while Ohio has seen significant increases in problems related to licensing, practice, and conduct unbecoming. These results provide support...
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...………………………………………………………………………….…..6 BIBLIOGRAPHY ......………………………………………………………………………..7 EXECUTIVE SUMMARY This report provides the requirements and steps to become a Certified Public Accountant (CPA) in Texas. In addition, it addresses the requirements to apply for and sit for the Texas Uniform CPA Exam, which details the topics covered and the structure of the exam. The report presents the rules, sites, and testing windows under which the exam can be taken. It also discusses the resources available in preparation for the exam. Finally, it includes the additional requirements to become a Texas CPA once a candidate passes the exam. The Texas State Boards of Accountancy determines the laws and rules for becoming a CPA in the state of Texas. The candidates who meet specific eligibility requirements will be issued certificates to practice public accountancy within the state. These requirements include the following: * Be of good moral character. * Meet the education requirements. * Pass the CPA exam. * Meet work experience requirements. * Pass an exam on the Board’s Rules of Professional Conduct. In order to sit for the CPA exam, the first two points mentioned above must be met by the applicant. An Application of Intent must be submitted where the...
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...MANAGING INFORMATION – CRITICAL EVALUATION OF RELEVANT ISSUES MODULE: MANAGING INFORMATION Table of Contents Sr. no. Contents Page no. 1. Introduction............................................................................................3 2. Definition of Information Systems...........................................................3 3. Information System as an Organizational and Management Solution.........3 4. Information Manager and Information System..........................................4 5. Environmental and Industrial Analysis.....................................................4 6. Recommended Information Systems for a Medium Sized Accountancy and Management Consultancy Firm........................................................5 6.1. Management Information System.............................................................5 6.2. Decision Support System..........................................................................6 6.3. Knowledge Management System..............................................................6 6.4. Transaction Support System.....................................................................6 6. Evaluation of Organizational, Technical and Management Aspects of the Information Systems Used...................................
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...TABLE OF CONTENT 1.0 Introduction | | 2.0 Issues Surrounding the Professionalism of Accounting | | 3.0 Literature Review | | 4.0 Presentation of the main Idea about the Professionalism of Accounting | | 5.0 Analysis and discussion | | 6.0 Conclusion | | 7.0 Reference | | 1.0 INTRODUCTION 2.0 ISSUES SURROUNDING THE PROFESSIONALISM OF ACCOUNTING Twenty years ago, Briloff (1986) alerted the profession to the crisis of credibility being faced because society perceived accountants to have lost their commitment to public service. The credibility of the profession is threatened when the ideals of integrity, independence, public service and ethical standards come under suspicion. Well-known scandals of one of the major leading accounting firms in the United States Arthur Andersen coupled with alleged unethical acts committed by Enron have arouse the conscious of the public and stakeholders as to the moral decline and unethical posture of public accountants unveiled a decline in moral reasoning and ethical standards of public accountants (Dellaportas, 2006; Esmond-Kiger, 2004). Over the last few years, the accounting profession has been beaten up badly in the media, somewhat justifiably. The forces at work were numerous and complex and a variety of phenomena created the entire profession had its reputation tarnished. Some forces were not new: delivering services that acted to impair independence; becoming too cozy with clients, active participation...
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...Accounting Standards Boards Paper Kristi Crow ACC/541 Accounting Theory and Research September 30, 2015 Valerie Turnbow The Financial Accounting Standards Board (FASB) is the accounting board used in the United States. The FASB is tasked with improving and establishing the standards of financial accounting and reports for education of the public (Schroeder, Clarke, Cathey, 2011). The International Accounting Standards Board (IASB) is the accounting board used to simplify the process for those seeking capital or investment opportunities across national boundaries. In this paper we will discuss the history and relationship of both the FASB and the IASB. Additionally we will discuss how the Masters of Science in Accountancy (MSA) will prepare students for a career in the vocation of accounting. FASB and IASB history The FASB was created in 1973 after the Wheat Committee, chaired by Francis Wheat suggested that the Accounting Principles Board be abolished and a new board created. The FASB was to be comprised of representatives from a variety of organizations and be full-time paid employees. The FASB has an advisory council that will keep them updated on major policy issues, as well as the selection of task forces. This council is known as the Financial Accounting Standards Advisory Council (FASAC). The IASB was also created in 1973. The IASB is an independent private sector body. The IASB has two main objectives. The first being to formulate and publish in...
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...Accounting Industry, and why their role is Important to Business, Industry, and Society? CPAs became prominent after the 1800s when America started into the industrial era. They mainly did the basic bookkeeping for businesses at that time. As the industrial age grew and the government started to impose taxes, CPAs became more important to businesses as they now had to handle the filing of taxes for businesses. Although many people don’t see how important CPAs are to business, industry, and the economy, as well as, society. With the many changes over the centuries that government and CPA societies have put on CPAs, there have been some big changes in educational requirements, as well as governmental regulations. But in today’s society ethics has become the biggest problem that CPAs have to deal with and yet have more control over in the economy, and especially in business and industry. History has shown just how business and industry has needed CPAs, from controlling payroll and taxes, auditing accounting journals at the local mom-and-pop stores, to auditing financial papers of big corporations in order to let the investors at banks and Wall Street have some sort of an idea of how sound a Corporation is. America moved from an agricultural to an industrial society, creating a complex society requiring the knowledge in a year great insight. Talks about the efforts to organize the profession first in New York City in 1896, and in 1921 the passage of the New Mexico law helped...
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...itself. Because of this accounting malpractice, it may cause to a major problem that will put CPAs into grave misconduct such as allegation of fraud and engangement in corporate accounting scandals. Accounting malpractice are affecting the businesses globally. It decays the economy of the country and slowly creeps into different industry until they are no longer outlive in the business world. In fact, the Report to the Nations on Occupational Fraud and Abuse in Asia-Pacific Region led by Wells (2010) found out that the Asia Pacific median has a loss that was significantly higher than the global median loss of $160,000 because of accounting malpractices. This report also added that 338 fraud cases that has been found on that Asia-pacific region wherein China has the most number of fraud cases and followed by India, Australia, Indonesia and United Arab Emirates. This claim has been confirmed further by Yancey (1996), which she states in her study that during 1987-1993 AICPA Professional Liability...
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...[pic] SCHOOL OF ACCOUNTANCY UNIVERSITI UTARA MALAYSIA FIRST SEMESTER 2014/2015 (A141) COURSE CODE : BKAL3063 COURSE : INTEGRATED CASE STUDY PRE-REQUISITE : BKAF3073 FINANCIAL ACCOUNTING & REPORTING IV 1. SYNOPSIS This is a capstone course for the accountancy programs, which integrates knowledge from financial accounting & reporting, management accounting, taxation, audit, finance, management and business–related, information technology and other social sciences courses. Experiential exercises are embedded in this course to support learners’ effort in independent learning. 2. OBJECTIVES This course is designed to enable learners to integrate knowledge from the various related disciplines and to enhance their technical core competencies and their problem solving skills in the unstructured business environment. 3. LEARNING OUTCOMES Upon completion of the course, students are able to: i) interprete various accounting and business related issues in an organisational context. ii) undertake independent research. iii) develop alternative solutions to issues, devise action plans, and resolve implementation issues. iv) communicate ideas, views and recommendations effectively both verbally and in writing. v) demonstrate awareness of ethical considerations as part of the decision making process. vi) demonstrate leadership and teamwork in issues...
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...ACC203 ACCOUNTING INFORMATION SYSTEMS T0214 Section 1: General Information 1.1 Administrative details: |Associated HE Award(s) |Duration |Level |Subject Coordinator | | B Bus (Accg); B Bus (Mgt & Finance) |1 trimester |Level 2 | Richard Chang | | | | |richard@koi.edu.au | 1.2 Core / elective: This is a core subject for B Bus (Accg) and an elective subject for B Bus (Mgt & Fin) 1.3 Subject/unit weighting: Indicated below is the weighting of this subject/unit and the total course points. |Subject Credit Points |Total Course Credit Points | | 4 |BBus(Accg) 96; BBus (Mgt & Finance) 96 | 1.4 Student workload: Indicated below is the expected student workload per week for this subject/unit: |No. timetabled hours/week* |No. personal study hours/week** |Total workload hours/week*** | |4 hours/week |5 hours/week |9 hours/week | |2 hour Lecture + 2 hour Tutorial...
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...Using Teams in Production and Operations Management: Forensic Accountants: Fraud Busters. By: For: Class: Bus 508: Contemporary Business Date: 13 November 2012 Abstract: A case study for the Strayer University, Woodbridge, VA, Business 508 class, this paper provides for a brief review of 1) The skills that a forensic accountant requires; 2) The role of the forensic accountant in the courtroom; 3) The legal responsibilities of the forensic accountant; and lastly, 4) The role of the forensic accountant in a couple of major accounting fraud scandals. The world of Accounting has seen several major scandals since the early 1990s. These include major accounting failures such as Enron, WorldCom, Adelphia, Tyco, Phar-Mor, Cendant, Computer Associates, AOL, Freddie Mac, ImClone, Qwest Communications, Royal Ahold, Health South Corporation, AIG, Lehman Brothers, and most recently the Olympus Corporation. Some of these have resulted in the collapse and dissolution of the company – Enron, Adelphia; others have resulted in a major restructuring of the company – AOL, AIG, Freddie Mac. Whatever the result, they have all been caused by accounting fraud – either “cooking the books” to hide major losses or to hide the theft of funds. It has also resulted in the failure and absorption of the one of the Big Five Accounting firms – Arthur Anderson. Besides the whistle blower who brought most of these to public view and the lawyers who have been involved their dismantling...
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...located 1.5 blocks from 536 Mission St., so I can meet there by appointment. Please telephone or email me as early as possible for an appointment. COURSE DESCRIPTION: Focuses on the legal, regulatory and ethical context of professional accounting practice. This course will consider the law and the legal environment within which certified public accountants practice and the most important areas of the law affecting clients. Topics covered in this course are the law of administrative agencies; the regulation of professions generally and of accounting specifically; ethics and professional responsibility, the AICPA's Code of Professional Conduct and the IMA's Statement of Ethical Professional Practice. Corporate governance, Sarbanes Oxley, and securities law will be emphasized. COURSE OBJECTIVES: The course introduces the concepts and terminology of several fields of U.S. Business Law, as well as professional ethics, as applied to a variety of real world problems. Upon completion of ACCTG 351B, you...
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...Nigerian Stock Exchange. They were systematically and purposively selected from the number of quoted companies in the exchange. A five point scale questionnaire was used with items on ethical issues on organizational financial reporting and performance. Data was analyzed using descriptive statistical tools and Spearman Rank Order Correlation Coefficient. Findings suggest that the compliance by the accountant positively and significantly affect the quality of financial reports and performance of organizations. The conclusion drawn from the findings is that the compliance by the accountant on professional ethics of integrity, objectivity, honesty, compliance and accountability will improve the quality of financial reports and the performance of organizations. Based on the findings, some recommendations were made, among which are that organizations should establish a position for ethics officers in Nigerian organizations; creation of non-threatening environment for the discussion of ethical problems and co-operation...
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...Que 1: Benefits of Accountant in the company: • Helps to keep Records Updated An Accountant can help the company to keep the records updated by keeping track on each and every transaction placed during a particular accounting period. And can also enhance the performance of the company by monitoring and reviewing the accuracy and the completeness of records of accounting and its related systems. An accountant can also maintain records of all employees of the company by keeping track on their performance and also can focus on timely processing of weekly and monthly payroll of the employees. An accountant can also keep the records updated by compiling and analyzing the information related to financial activities of the company to prepare entries to the accounts, such as general ledger accounts, document business transactions. Due to the proper updating of the records systematically by the accountant the company will be able to provide the financial information of the company to its internal and external sources whenever needed without any disputes or errors . • Paid taxes on time An Accountant can help the company by paying taxes on time. There will be no need to calculate taxes separately as it will be calculated by the accountant which will in turn save the time and hence can be used in some effective and efficient manner. Apart from this he can also provide much relevant information related to taxes like : • Amount to put aside per month for tax bills •...
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...Rawal Student Number: 130014317 BSc (Hons) Accounting & Finance Part 2 By Assurance Assignment Assurance Assignment ------------------------------------------------- Question 1 “Without accountancy businesses would find it hard to function”, Michael Izza. What you feel he means by the above quote? Accounting is the language of business, without it, business functionality would be difficult to undertake. If we break it down, accountancy is needed in the following ways: 1. Financial Accounting: this comprises of information that companies avail to the general public. As a result of these statements being published, companies can gain potential investors. It also hold firms accountable for their operations and encouraged constant revaluation of systems and development in efficiency. 2. Management Accounting: this deals with internal information e.g. cost of goods sold, profit targets, variance analysis etc. This holds management accountable for decisions they make. As a result, they review, plan and coordinate amongst themselves to ensure smooth functionality. 3. Accountability: Businesses need to be held accountable for the actins they make. Otherwise there would be elements of greed, theft, dishonesty and fraud evident in the framework. Accountancy therefore acts as regulator to stop such miss happenings and in a way ensure the financial market runs at equilibrium. In the article the quote appeared, Michael Izza also states that the Joint Stock...
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...Malaysia ETHICS IN ACCOUNTING EDUCATION: CONTRIBUTION OF THE ISLAMIC PRINCIPLE OF MAêLAîAH Abdul Rahim Abdul Rahman Assistant Professor, Department of Accounting, Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia, Jalan Gombak, 53100 Kuala Lumpur, Malaysia. (e-mail: abdulrahim@iiu.edu.my) ABSTRACT There is a growing concern over the apparently low moral standards of some accountants and an increasing number of academics who suggest that the education system should bear some of the blame. Ethical components in accounting education have been found to be insufficient and there is a lack of emphasis on humanizing accountants. The objective of this paper is firstly to address the importance of ethics in accounting education and evaluate the development of literature in this area. Secondly, the paper argues for the direction of accounting education to focus on religious ethical development and values in developing accounting ethics. The paper argues that the Islamic worldview and ethics perspective can provide some insights into the process of developing a more humanized and ethical accountant. This paper proposes the Islamic legal principle of ma§laúah as an ethical filtering mechanism to be taught as part of the ethical accounting education process. This is aimed at providing awareness to accounting students and accountants on the process to resolve ethical conflicts. The study of Islamic worldview and ethics provides ...
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