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Casual Articles - Are Ethics Important For Professional Accountants?
The gatekeeper is the best person to get to know, they are the ones that will determine whether you can speak to the appropriate person, and they are also a goldmine of information. If this person does not like you, your messages are not likely to get through to the right person. I currently work with a medium sized company and the CEO has an email address but does not use a computer. He has his administrator read all the emails and print out the ones she feels are important. Unless she knows who you are, they are not likely to be read. You must have an excellent relationship with the gatekeeper because the CEO will not take direct calls. Be courteous at all times, let them know why you are calling and always ask if this is the correct person for you to call. Gatekeepers can be very helpful when giving you information and directing you to the right department. They can also smell a rat when you are not being truthful or you do not know what you are talking about.If you are going to call a CEO, make sure you call before the gatekeeper arrives, this may be the only time the CEO will be answering the phone. If they do not, then leave a voice mail message and clearly state what it is you want to speak about. If they do not call you back, call again to make sure they got the message. If you
Definition of Ethics
The word ‘Ethics’ is derived from the Ancient Greek word ethikos, the adjective of ethos, means customs and habits. A major branch of philosophy which is the study of values and customs of a person or group and covers the analysis and employment of concepts such as right and wrong, good and evil and do’s and don’ts.
Code of Ethics:
In the context of a code adopted by a profession or by a governmental organization to regulate that profession, an ethical code may be styled as a code of professional responsibility, which may dispense with difficult issues of what behaviour is ‘ethical’. A code of ethics is often a formal statement of the organizat
For nearly 25 years, I thought I had it. I worked as a Yellow Page consultant for a former Bell company. Although it was commissioned sales, I was flexible in my hours and was pretty much autonomous in my self-directed days. I was paid well, had good benefits and a nice working office environment. It was a white-collar professional job where I got to visit with the owners and managers of various large and small companies. I was reimbursed for car expenses and received a fair amount of company perks from sporting events tickets to bonuses for meeting different sales objectives. We had state-of-the art technology and a decent amount of company support. So, by all measures, it was a good job. But what about a “perfect” job? Now that’s a real challenge.Does Tom Cruise, who might receive $20 million for a single movie, have the “perfect” job? How about a football, baseball, or basketball superstar at $10 million for a quarter year’s work? Look at Donald Trump, Bill Gates, or Warren Buffett, all in the billionaire classification. Are they the epitome of the American dream? Fine, you aren’t nearly in that same arena, so what about the common man or woman? What is there available for the average Joe or Josephine?It’s a bit too late in your life to become an attorney or doctor and beside
Profession
A profession is an occupation that requires extensive training and the study and mastery of specialized knowledge, and usually has a professional association, ethical code and process of certification or licensing; for example engineering, medicine, social work, teaching, law, finance, the military, nursing and Accountancy etc. Classically there were only three professions: military, medicine and law. Each of these professions holds to a specific code of ethics and members are almost universally required to swear some form of oath to uphold those ethics, therefore ‘professing’ to a higher standard of accountability. Each of these professions also provides and requires extensive training in the meaning, value and importance of its particular oath in practice of that profession.
Accountant
Practitioner of Accountancy is known as Accountant. Accountant, Qualified Accountant, Professional Accountant or Accountancy Practitioner is a legally certified accountancy and financial expert. Accountants not only work in public practice but many of them are working within private corporations, in financial industry and in various government bodies. Accountancy (profession) or accounting (methodology) is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities, lenders and other stakeholders and decision makers to make resource allocation and policy making decisions.
Like many other professions there are many professional bodies for accountants throughout the world. Some of them are legally recognized in their jurisdictions such as British qualified accountants including Chartered Certified Accountant (ACCA or FCCA), Chartered Accountant (CA, ACA or FCA), Canadian qualified accountants such as Chartered Accountant and Certified General Accountants (CA or CGA) and American qualified Accountants such as Certified Public Accountants (CPA) etc. Some other statutory and non-statutory accountancy qualifications are Certified Management Accountant (CMA), Associated Cost and Management Accountant (ACMA), Certified Financial Analyst (CFA) and Certified Fraud Examiner (CFE) etc.
In Pakistan, the Institute of Chartered Accountants of Pakistan is the sole professional and accountancy body with the right to award the Chartered Accountant designation. ICAP is the member of IFAC (International Federation of Accountants, IASB (International Accounting Standards Board), Confederation of Asian & Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA). The members of ICAP have reached to 4,089 as of March 1, 2007 data.
Role of Professional Accountants:
Accountants are independent business advisors. Accountants can offer an extensive range of services. Accountants can be registered auditors, can set up client’s accounting systems, can be an advisor on tax planning, or a detector of frauds and embezzlements, can do budgeting and financial statement analysis, advise clients on financing decisions, provide specialist knowledge and can help maintaining an ethical environment.
After discussing the basic concepts and role of professional accountants we are in a better position to ponder on what professional ethics is and why it is important in the field of accountancy.
Definition of Ethics
The word ‘Ethics’ is derived from the Ancient Greek word ethikos, the adjective of ethos, means customs and habits. A major branch of philosophy which is the study of values and customs of a person or group and covers the analysis and employment of concepts such as right and wrong, good and evil and do’s and don’ts.
Code of Ethics:
In the context of a code adopted by a profession or by a governmental organization to regulate that profession, an ethical code may be styled as a code of professional responsibility, which may dispense with difficult issues of what behaviour is ‘ethical’. A code of ethics is often a formal statement of the organizat
Did you know that you should always create a process map for every procedure or system of procedures that you develop? And did you know that, like a table of contents, this will create stronger communication and better understanding in your organization?How do you do this?Identify Core ProcessesLast time, we followed the money trail and identified your business’ core processes. We discussed where to best start a change in one of those core processes. And we introduced the technique of producing a process map. So this week, let’s take a further look at how to create a process map – and see how it creates knowledge to benefit you and your organization.Use Process Map as Communication ToolA process map is a flow diagram of the primary processes within an organization. It very specifically shows you both who and what is involved in a process, as well as the requirements for that process to be effective. The primary goal is to use the map as a communication tool. It is to show the sequence of interactions of the elements involved in the process. And so process maps are drawn and used by organizations to achieve several benefits:• Increase process understanding• Clarify process boundaries, ownership and effectiveness measures
Accountant
Practitioner of Accountancy is known as Accountant. Accountant, Qualified Accountant, Professional Accountant or Accountancy Practitioner is a legally certified accountancy and financial expert. Accountants not only work in public practice but many of them are working within private corporations, in financial industry and in various government bodies. Accountancy (profession) or accounting (methodology) is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities, lenders and other stakeholders and decision makers to make resource allocation and policy making decisions.
Like many other professions there are many professional bodies for accountants throughout the world. Some of them are legally recognized in their jurisdictions such as British qualified accountants including Chartered Certified Accountant (ACCA or FCCA), Chartered Accountant (CA, ACA or FCA), Canadian qualified accountants such as Chartered Accountant and Certified General Accountants (CA or CGA) and American qualified Accountants such as Certified Public Accountants (CPA) etc. Some other statutory and non-statutory accountancy qualifications are Certified Management Accountant (CMA), Associated Cost and Management Accountant (ACMA), Certified Financial Analyst (CFA) and Certified Fraud Examiner (CFE) etc.
In Pakistan, the Institute of Chartered Accountants of Pakistan is the sole professional and accountancy body with the right to award the Chartered Accountant designation. ICAP is the member of IFAC (International Federation of Accountants, IASB (International Accounting Standards Board), Confederation of Asian & Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA). The members of ICAP have reached to 4,089 as of March 1, 2007 data.
Role of Professional Accountants:
Accountants are independent business advisors. Accountants can offer an extensive range of services. Accountants can be registered auditors, can set up client’s accounting systems, can be an advisor on tax planning, or a detector of frauds and embezzlements, can do budgeting and financial statement analysis, advise clients on financing decisions, provide specialist knowledge and can help maintaining an ethical environment.
After discussing the basic concepts and role of professional accountants we are in a better position to ponder on what professional ethics is and why it is important in the field of accountancy.
Definition of Ethics
The word ‘Ethics’ is derived from the Ancient Greek word ethikos, the adjective of ethos, means customs and habits. A major branch of philosophy which is the study of values and customs of a person or group and covers the analysis and employment of concepts such as right and wrong, good and evil and do’s and don’ts.
Code of Ethics:
In the context of a code adopted by a profession or by a governmental organization to regulate that profession, an ethical code may be styled as a code of professional responsibility, which may dispense with difficult issues of what behaviour is ‘ethical’. A code of ethics is often a formal statement of the organizat
The population count for Miami has about doubled for Super Bowl weekend. The historic Art Deco streets of South Beach have been shut down only allowing for the flood of pedestrians walking the sidewalks to overflow onto the streets.Some of the NFL Superstars and other Celebrities in town for this weekend chose to escape the organized chaos and relax by heading offshore for a fun filled relaxing day of Sportfishing. Capt Vinnie LaSorsa, owner of www.Go-Sportfishing.com, is no stranger to entertaining celebrity guests on his 53 Foot custom Sportfishing yacht.Capt. Vinnie LaSorsa says "I make a living doing what I love, when you do what you love you do it well. I know these guys from the NFL can relate." Capt. Vinnie's guests surely agreed. "He truly runs a professional, top notch Sportfishing Operation. The Guys had a great time and I'm sure they will be heading offshore with Capt. Vinnie next time they are in South Florida" Says New Orleans Saints Public Relations spokeswoman Kendra Beal.About GoodFellas Sportfishing ChartersCaptain Vinnie La Sorsa www.Go-Sportfishing.com Swordfishing & OffShore Charter Boat CaptainVinnie La Sorsa has been fishing up and down the east coast of the U.S. since his early childhood. He was raised in the old harbor town of Annapo
Like many other professions there are many professional bodies for accountants throughout the world. Some of them are legally recognized in their jurisdictions such as British qualified accountants including Chartered Certified Accountant (ACCA or FCCA), Chartered Accountant (CA, ACA or FCA), Canadian qualified accountants such as Chartered Accountant and Certified General Accountants (CA or CGA) and American qualified Accountants such as Certified Public Accountants (CPA) etc. Some other statutory and non-statutory accountancy qualifications are Certified Management Accountant (CMA), Associated Cost and Management Accountant (ACMA), Certified Financial Analyst (CFA) and Certified Fraud Examiner (CFE) etc.
In Pakistan, the Institute of Chartered Accountants of Pakistan is the sole professional and accountancy body with the right to award the Chartered Accountant designation. ICAP is the member of IFAC (International Federation of Accountants, IASB (International Accounting Standards Board), Confederation of Asian & Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA). The members of ICAP have reached to 4,089 as of March 1, 2007 data.
Role of Professional Accountants:
Accountants are independent business advisors. Accountants can offer an extensive range of services. Accountants can be registered auditors, can set up client’s accounting systems, can be an advisor on tax planning, or a detector of frauds and embezzlements, can do budgeting and financial statement analysis, advise clients on financing decisions, provide specialist knowledge and can help maintaining an ethical environment.
After discussing the basic concepts and role of professional accountants we are in a better position to ponder on what professional ethics is and why it is important in the field of accountancy.
Definition of Ethics
The word ‘Ethics’ is derived from the Ancient Greek word ethikos, the adjective of ethos, means customs and habits. A major branch of philosophy which is the study of values and customs of a person or group and covers the analysis and employment of concepts such as right and wrong, good and evil and do’s and don’ts.
Code of Ethics:
In the context of a code adopted by a profession or by a governmental organization to regulate that profession, an ethical code may be styled as a code of professional responsibility, which may dispense with difficult issues of what behaviour is ‘ethical’. A code of ethics is often a formal statement of the organizat
Are you stopping ... and don't know it? Are you stopping ... and don't show it? If you're stopping ... you won't grow it? So STOP it!Sound a little corny? Well, it's really not. I was working on a product recently and continued to re-record 1 section to the point it was getting out of hand. I kept saying, "Why do I keep messing this up -- why can't I be done?" Then I realized -- I didn't want it to be done because that means I would need to launch it. That means I need to show it to the world. I had no idea I was stopping in the form of "perfection" with my recording.Another reason for stopping; those infamous doubtful voices. I bet you think I'm just beginning in my business...hardly! I've been in business since 1999 and it still amazes me that I can get stopped. What that tells me is that I am human. The good thing is, I noticed I was stopped very quickly. In my earlier years it took me a long time to figure it out. Ah, the power of time and learning.Do you have a product or a service you are creating? Are you excited to get it out to your audience but it's being detained? Take a good look at what's slowing down the process -- or stopping it.Of course, there are the technical pieces that can get in the way or it needs more time to complete. If you find yourself he
Role of Professional Accountants:
Accountants are independent business advisors. Accountants can offer an extensive range of services. Accountants can be registered auditors, can set up client’s accounting systems, can be an advisor on tax planning, or a detector of frauds and embezzlements, can do budgeting and financial statement analysis, advise clients on financing decisions, provide specialist knowledge and can help maintaining an ethical environment.
After discussing the basic concepts and role of professional accountants we are in a better position to ponder on what professional ethics is and why it is important in the field of accountancy.
Definition of Ethics
The word ‘Ethics’ is derived from the Ancient Greek word ethikos, the adjective of ethos, means customs and habits. A major branch of philosophy which is the study of values and customs of a person or group and covers the analysis and employment of concepts such as right and wrong, good and evil and do’s and don’ts.
Code of Ethics:
In the context of a code adopted by a profession or by a governmental organization to regulate that profession, an ethical code may be styled as a code of professional responsibility, which may dispense with difficult issues of what behaviour is ‘ethical’. A code of ethics is often a formal statement of the organizat
Personal Internet presence? Why should I care about a personal Internet presence? I don't want recruiters bugging me.Unfortunately, this is what most people early in their professional careers think about a personal Internet presence.Whether you want recruiters bugging you or not, isn't the point about being found on the Internet. The point is the world of business is changing rapidly, and the Internet is driving the change. The Internet is about access to, and the ability to communicate, information (i.e., there is a reason the Internet is called "The Information Highway").The Internet is the go-to resource more often than ever to find answers to questions that start with: who, what, where, when, why and how.Being associated with the answers is a good thing in the context of your own professional value proposition. Most certainly, just being associated with the answers isn't good enough anymore. You need to be visibly associated with the answers. In today's business reality, that means being associated with the answers via content that can be found on the Internet.Again, so you ask, "I still don't get it. Why should I care?"Answer: Most business professionals at all levels within corporate hierarchies are paid by employers, clients, and customers
Definition of Ethics
The word ‘Ethics’ is derived from the Ancient Greek word ethikos, the adjective of ethos, means customs and habits. A major branch of philosophy which is the study of values and customs of a person or group and covers the analysis and employment of concepts such as right and wrong, good and evil and do’s and don’ts.
Code of Ethics:
In the context of a code adopted by a profession or by a governmental organization to regulate that profession, an ethical code may be styled as a code of professional responsibility, which may dispense with difficult issues of what behaviour is ‘ethical’. A code of ethics is often a formal statement of the organization’s values on certain ethical and social issues relating to the profession and practice of the professional knowledge. This also includes the principles and procedures for specific ethical situations.
Ethics in Professional Accountancy:
The general ethical standards of society apply to people in professions such as medicine, law, nursing and accountancy etc just as much as to anyone else. However society places even higher expectations on professionals. People need to have confidence in the quality of the complex services provided by professionals
Ethics in accountancy profession is of utmost importance to accounting professionals and to those who rely on their services. Stakeholders including clients, credit grantors, governments, taxation authorities, employees, investors, the business and financial community etc perceive them as highly competent, reliable, objective and neutral people. Professional accountants therefore, must not only be well qualified but also possess a high degree of professional integrity. Because of these high expectations, professionals have adopted codes of ethics; also known as codes of professional conduct. These ethical codes call for their members to maintain a level of self-discipline that goes beyond the requirements of laws and regulations. Each of the major professional association for accountants has a code of ethics.
As mentioned earlier, professional accountants can be of two types. One who work in firms or independently run those firms that provide accounting, auditing and other advisory services to clients; these are called public practitioners. Others are those who are employees of organizations and may serve as internal auditors, management accountants, financial managers and financial analysts. Regardless of the role of accountants they are adhered to code of ethics which are applied to their professional conduct although there are some special provisions for those in public practice [Reference: Code of Ethics for Professional Accountants-International Federation of Accountants (IFAC)].
International Federation of Accountants-IFAC:
The International Federation of Accountants (IFAC) is a federation of all accountancy bodies throughout the world. All the major international and national associations like ACCA, AICPA, ICMA, ICAP, IASB etc are all its member organizations. The mission of IFAC, as set out in its constitution, is “the worldwide development and enhancement of an accountancy profession with harmonized standards, able to provide services of consistently high quality in the public interest” [Ref: Code of Ethics for Professional Accountants-IFAC]. In pursuing this mission, the IFAC Board has established the IFAC Ethics Committee to develop and issue, under its own authority, high quality ethical standards and other pronouncements for professional accountants for use around the world. The Code of Ethics establishes ethical requirements for professional accountants. A member body or firm may not apply less stringent standards than those stated in this Code.
The objective of setting this code of conduct is to harmonize these standards and practices on a global perspective. Public can only trust these highly professionals when it is made mandatory to observe and follow strict regulations and codes throughout the world. A professional accountant is required to comply with the following fundamental principles mentioned in this Code of Ethics:[Ref: Section 100.4 Code of Ethics for Profess
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