The Role of Ethics in Professional Accounting Essay

The Role of Ethics in Professional Accounting - Essay Example Ethical behavior itself is affected by several factors. When speaking specifically about a career, one of the most influential factors on ethical behavior are gender and education. The extent to which these factors influence ethical behavior for any given career has received widespread attention in recent years. The accounting field is not left out. The task is to show that there exists a liaison between accounting and the way gender, (sex) and education affect ethical behavior. Ethical and professional accounting forms a clear financial image of a business, and allows managers to make informed decisions, keeps investors abreast of developments in the business, and keeps the business profitable.1 Operating information is relative to the day-to-day running of the organization. Pay tracks, information of the evolution of liabilities and assets, inventories on goods, follow-up of customers and suppliers; these are only a few of the day-to-day activities in an enterprise. Financial accounting information on its own part concerns information such as the evolution of liabilities and assets. This information is used by stakeholders to analyze the progress of the organization in attaining its set objectives. In this light, shareholders would want to know if they would be benefiting from the business while banks who want to know if their money would be refunded. ... Financial accounting information on its own part concerns information such as the evolution of liabilities and assets. This information is used by stakeholders to analyze the progress of the organization in attaining its set objectives. In this light, shareholders would want to know if they would be benefiting from the business while banks who want to know if their money would be refunded. All information relative to financial accounting is arranged in what is known as bookkeeping. In effect, booking can be defined as: maintenance of systematic and convenient records of money transactions in order to show the condition of a business enterprise. The essential purpose of bookkeeping is to reveal the amounts and sources of the losses and profits for any given period. Proper bookkeeping should also reveal the nature and value of the assets and liabilities of a firm, as well as its net worth at the close of that period.3 Your last name 4. Managerial information is provided to the managers of the organization in a well prepared and easy to comprehend form so as to enable them make informed decisions that would shape the future of the enterprise or organization. As a result of its importance, the accounting of an enterprise is imperatively handled by a professional (accountant) whose (professional) work 'requires specialized and theoretical knowledge, acquired through college training or comparable work experience'.4 Professional work in accounting requires the examination, analysis and interpretation of records. Examples of such work include the:modification and implementation of manual and automated accounting systems to meet the specific fiscal requirements of an agency,development and revision of policies to improve accounting control and efficiency,

Research Paper Essay Example | Topics and Well Written Essays - 3750 words

Research Paper - Essay Example Moreover, in case that an agreement is developed between a firm and an advertising agency, this agreement needs to be aligned with the firm’s culture and aims. Otherwise, the chances for the survival of this agreement would be limited. In the case of General Motors, another aspect of the relationship between the firm and its advertising agency has been given: the above relationship reflects specific interests; if these interests are changed, then the cooperation between the above parties may be ended. In this context, General Motors had to terminate its cooperation with the advertising agency Publicis Groupe SA., almost a month after the above agency replaced Campbell-Ewald (an agency which had the responsibility for the advertising campaigns of Chevrolet since 1919). Indeed, in May 2010, General Motors switched to Goodby, Silverstein & Partners (part of the Omnicom Group) from Publicis Groupe S.A. – a cooperation that lasted – as noted above – for, just, about a month. The decision of GM to switch to Publicis Groupe SA will not particularly analyzed – since it was for an agreement that last for about a month. Rather the reasons for the termination of the firm’s cooperation with Campbell-Ewald – a cooperation, which started in 1919 – and for the development of an agreement with Omnicom Group need to be further analyzed. In accordance with Krisher (2010) the managers of GM did not give particular explanations for their decision to terminate their cooperation with Campbell-Ewald; on the other hand, the managers in GM had noted that there were problems in the performance of Campbell-Ewald – especially regarding ‘advertising and marketing’ (Krisher 2010). In the past, the above agency had significantly supported the expansion of Chevrolet across USA through the well-known ads of ‘See the USA in your Chevrolet’ (Krisher 2010), an ad of 1950s and ‘Like a Rock’ (Krish er 2010) in 1990s. It is suggested that GM should reconsider its decision to change its agency, taking into consideration the success achieved for the firm in the past through the ads of Campbell-Ewald. On the other hand, in May 2010, GM changed its marketing director; the new marketing director of the firm, J. Ewanick, had previously worked in Hyundai; there he managed to achieve a significant increase of the firm’s sales through the Goodby, Silverstein & Partners (Woodall 2010); the first target of J. Ewanick as the marketing director of GM has been the change of the firm’s traditional marketing strategy – which has been characterized as too conservative (Woodall 2010); the switch in the firm’s agency – from Publicis Groupe S.A to Goodby, Silverstein & Partners – should be regarded as part of this effort (Elliott 2010). b. Find examples of advertising and other promotional programs that were developed by the old agency and examples of ads developed by the new agency. Do you think the advertising campaign and messages being developed by the new agency are better and/or more appropriate for the company than those of the old agency? Why or why not? The effectiveness of the two agencies, Goodby, Silverstein & Partners (current agency of GM, from May 2010 onwards) and Campbell-Ewald (agency of GM from 1919 up to April 2010) would be examined by referring to examples of their advertising practices. The examination of the advertising pract