Accounting: Code of Ethics

 

Why do we have code of ethics in the workplace and who does it help? It helps both businesses and people. It’s shows people that they will not be wronged if they go to the business. The business will have a more positive relationships with not just the people, but other businesses.

In Accounting, there are many code of ethics that can be found here comprised from the IFAC (International Federation of Accountants). The main one that stands out is conflict of interest. Where lets say a business is doing another businesses payroll An employee could have a family member who is getting paid by the other company and the pay gets bumped up or missing some payment because the employee wants to help the family member or hurt them because of past relationships.

The code of ethics are there to protect individuals and others from serious legal issues from happening. A lot of businesses will limit the amount of family members from working with each other. Businesses will also ensure that if in an event that a family member of a worker is having anything processed (payroll, information, etc.) that other workers with no connection will do the process.

It is very wise to have code of ethics in accounting. Everything becomes more fair for anyone on anyside of accounting.

What comes after those ellipses? (n.d.). Retrieved March 09, 2017, from http://www.businessdictionary.com/definition/conflict-of-interest.html

“Why Is It Important To Have A Code Of Conduct?”. Reference. N.p., 2017. Web. 9 Mar. 2017.

“IESBA | Revised Code Of Ethics | IFAC”. Ethicsboard.org. N.p., 2017. Web. 9 Mar. 2017.

Accounting

What does these job titles have in common?

  • Book Keeping
  • Audits
  • Accounts Payable
  • Payroll Clerk
  • Credit Analysis Manager
  • Accountants

The answer is Accounting.

The accounting jobs are growing in demand with great different job opratunities in the same field and has been reported to have grown up to 10 percent in 2009.

Accounting will get more competetive higher up the ranks for the more instensive accounting jobs like internal Auditors. To get the higher up positions more and more education are needed, as well as job experiance in the accounting field.

Technology has changed accounting in the past 10 years with Cloud Computing, Advances on Tax Software, and Moble Working.

For my own goals, Accounting will be a good fit for me. I will have to be more competitive if i want to make it to the top. Overall there are many different opptions to choose from in accounting and much more knowledge to learn.

 

Merriam-Webster. (2017). Definition of ACCOUNTING. Retrieved February 23, 2017, from https://www.merriam-webster.com/dictionary/accounting

Linda Leatherbury. (2014, May ). Kaplan University. Retrieved February 23, 2017, from kaplanuniversity.edu, http://www.kaplanuniversity.edu/center-for-excellence/accounting-trends/accounting-jobs-increase.aspx

Wilson, E., Huber, N., & CA, T. (2015, July 24). How tech is transforming accounting. Retrieved February 23, 2017, from https://www.icas.com/ca-today-news/three-ways-technology-is-changing-accounting

Top Five accounting careers. (2013, May 9). Retrieved February 23, 2017, from Accounting Careers, http://www.topaccountingdegrees.com/top-five-accounting-careers

AccountingCoach, 2017. (2004). AccountingCoach. Retrieved February 23, 2017, from http://www.accountingcoach.com/careers/accounting-jobs#section-7

Ericksen, K. (2014, August 7). 9 must-know pros & cons of an accounting career. Retrieved February 23, 2017, from http://www.rasmussen.edu/degrees/business/blog/must-know-pros-cons-accounting-career

Coster, H. (2010, March 19). Where the jobs are: Accounting. Forbes. Retrieved from http://www.forbes.com/2010/03/19/accounting-jobs-employment-leadership-careers-hiring.htm