Although the person in question is wealthy, it is obvious that they are somehow committing fraudulent acts. Most likely, the fraudster used their businesses to launder funds given to the guardian of a child. According to the fraud triangle, there are three factors that trigger fraud: environmental pressure, the possibility of committing a crime, and the ability to justify oneself (Riley & Kranacher, 2019).
Discussion
Obviously, the pressure of the external environment does not play a role in this case since the fraudster is a wealthy person. Most likely, the opportunity to commit a crime plays a major role: the fraudster is the owner of the enterprises and can hide the crime, hiding behind plausible reports. In addition, the fraudster has moral self-justification: they did not steal money from a child but have the right to dispose of them as a guardian.
It is assumed that the fraudster does not spend money on the maintenance and education of the child, as well as on improving housing conditions, since this documented amount is much less than the actual one. Most likely, in this case, accounting fraud takes place the manipulation of financial statements. In this case, fraud is used not to increase the visibility of the companys well-being but to launder funds. For example, one of the fraudsters businesses may deliberately inflate its costs during financial reporting. The fraudsters company may enter a false line of expenses, for example, for the maintenance of the premises, which in reality does not occur. This type of fraud is complicated to prove, and the fraudster manages to evade responsibility.
Conclusion
Most likely, ordinary employees have no idea about what is happening in the organization. For a scammer, manipulating the accounts is the easiest way to get money, remaining very difficult to prove.
Reference
Riley, R., & Kranacher, M. (2019). Forensic Accounting and Fraud Examination. Wiley.
Globalization has caused an unprecedented explosion of multinational corporations. This has brought immense opportunities and challenges in the field of accounting. For one to be a diligent accountant, he or she has to embrace new principles and methodologies in accounting. This is the reason why I want to pursue a postgraduate degree in accounting. This will allow me to gain additional knowledge, skills, and expertise in the field of accountancy.
I was born and brought up in Nigeria. In February 2006, I moved with my family to the United State where I enrolled in the 9th grade at Rio Linda High School. The new learning environment was intimidating because I was the only African student in the class. I found it difficult to interact and make friends because of my Nigerian accent. My fellow students used to make fun of me, which irritated me immensely. In addition, my mother was a single mother, so she struggled to pay my school fees. Although I was affected emotionally, I could not allow it to compromise my academic performance. Through hard work, I always topped my class. I was rewarded several times for outstanding performances in academics. These awards encouraged me to work harder.
I graduated with a score of 3.6 in 2008, and my academic and career dream did not end with this achievement. I always liked mathematics and fancied computations. In addition, I had always dreamt of pursuing a course that would enable me to use my mathematical and analytical skills. This is the right time to make my dream come true. I applied for an undergraduate degree in accountancy at the Sac States University. To my delight, I gained admission to join the university.
However, I thought that the transition from high school to the university was going to be a free fall. I was wrong. The results of my first semester were discouraging. I scored 2.0 GPA. This did not stop me from putting in an extra effort to improve. I managed to recollect myself in the subsequent semesters. I slowly found the tune of the university academic requirements. Since then, I have been ranked among the top performing students on the deans list of academic honor. I am at 3.4 GPA presently.
The undergraduate accounting course has always fascinated me since I started the course two years ago. I am enjoying studying accounting since it is a discipline that requires analytical, mathematical, and problem solving skills that I possess. I am anxious to combine the knowledge and aptitude of these skills with a masters degree in accounting. The undergraduate degree in accounting has prepared me to adequately pursue a masters degree in the same field.
In addition, I have had opportunities to interact with accountancy scholars and professionals. More so, my penchant for the accounting career stems from the fact that my uncle, who has supported us since my father left us, is an accountant. I have always loved his professionalism and enigma. He has been instrumental in influencing my decision to enroll for a postgraduate degree in accounting.
Furthermore, I believe that there are other key skills that I possess that will make me become a professional accountant in the near future. I possess good interpersonal skills, and I understand how to relate with people. I am a good rapport maker, a skill that will assist me to create good working relationships and interaction with students and colleagues at the workplace. I am also an honest and diligent worker. I realize that these would be of great importance in making me a professional accountant.
Globalization has made the field of accounting more complex and challenging. I am motivated to advance in the accounting field so that I can upgrade my expertise to enable me work in the complex modern business environment. I want to acquire professional skills and abilities that would enable me to contribute to the economic development of my country. Nigeria is among the emerging economies in Africa and therefore, requires professionals who can unlock its economic and development potential. A postgraduate qualification in accounting will enable me to develop a successful career in accounting. In doing so, I will participate actively in the economic development of my native country.
My career plan is to understand the broader accounting concepts and acquire in-depth knowledge in accounting techniques. I want to enhance my accounting skills with additional knowledge in corporate financial reporting, accounting measurements and disclosures, strategic cost management, accounting decision making, and accounting ethics and principles. In addition, I want to be acquainted with different taxation regimes, auditing, international accounting standards, and international business laws.
This will help me to perform in a rigorous and demanding accounting position in the future. The acquired knowledge and skills will leverage my short-term goals in the management of company funds and other financial transactions. In the long-run, my contribution will enable the company to become financially stable. In addition, the acquired knowledge and skills will be critical to enhancing accounting professionalism in Nigeria. Finally, I would also be able to make sound financial decisions that will make me prosper as an individual.
The Sac States University is a multicultural institution with people from different walks of life. Undertaking a postgraduate degree at this university will enable me to interact with different people. Therefore, I will enhance my interpersonal skills. In addition, it is an ideal place for pursuing my masters degree. This is because of the ample facilities and the invigorating scholarly environment. More so, the Sac States University is a reputable institution that has produced renowned scholars in Nigeria and Africa.
Beside the above academic and career interests, I also have diverse extra-curricular experience. I have participated in several community activities. For instance, I have worked with Dorcas Pantry for one year. My core duties were cleaning of homeless shelters in the neighborhood and the distribution of food to the homeless shelters within the municipality. This enabled me to gain teamwork, networking, and interpersonal skills. From time to time, I assisted in bookkeeping and billing assignments. Secondly, I have also worked as a secretary and publicity officer at the RCCG Redemption Parish for one year. During my time at the RCCG Redemption Parish, I used to perform some accounting jobs.
Furthermore, I was an intern at Remax Real Estates from June to August 2012, where I gained knowledge and exposure in the business world. I have also worked as a sales associate at Kohlas for a period of one year. My duties included the direct sale of company products, customer care, and operation of the cash registers. Lastly, I have been working as a peer advisor at the Sac States University since the beginning of 2013.
The concepts behind theories and their application in different fields of studies have existed for centuries. Theories have been useful in examining how individuals in the field of research and development have had different opinions, perceptions, and even discernments on important educational and life models and how they correlate with practical living. The principal purpose of accounting theory is to present several principles and relationships that elucidate observed practices and forecast unseen practices (Coetsee 2010). The two main theoretical approaches in accounting theory are the normative approach and the positive approach.
The two alternative approaches would generally be appropriate to differing circumstances. Despite substantial literature existing on the two theoretical principles, much remains anonymous to the circumstances of their applications. Therefore, this essay explores the two main theoretical approaches to their apposite applications.
Synopsis of the theories and profession
Accounting information has been paramount to numerous organisations as well as governments as they provide information that facilitates informed decision making by decision and policymakers. Porwal (2001) notes, accounting is the measurement of and communication of financial information about economic activities to the interested persons (p.22). Accounting theory, on the other hand, can refer to a consistent set of logical ideologies that continuously provide an advanced understanding of the prevailing users of accounting information.
The theory has also been the significant conceptual framework for estimating the existing accounting practices as well as acting as guides to the development of new procedures and practices useful in the accounting profession. Porwal (2001) notes that accounting theories fall into three distinct classifications: inductive versus deductive, normative versus positive and according to prediction levels (p.22). However, despite having an interdependence connection between theories and practice, much remains anticipated, as controversies in their submissions in the accounting profession have been in continuous debates.
For the past three consecutive decades, the gap between existing theory and related theory as predetermined by the initial developers of theories is increasingly becoming eminent in the profession of accounting. Since the 1970s, the concept and science behind the determination of accounting standards have continuously been a critical issue and till recently as evidenced in the prolonged controversies in numerous organisations and governments. Typically, as postulated above, there are two main approaches in accounting theory namely normative and positive accounting approaches.
The two accounting theories have been in constant use for numerous years with differences in their application becoming more protracted and evident in controversial comportment. Differences in the accounting standards and principles inherent in the two theories are intensifying with arguments on the different measurement proposals rising. The protracting differences on the prevailing discrepancies in the professional application of normative and positive accounting have raised awareness of members involved in the accounting profession and the entire accounting research and development paradigm.
Normative accounting theory
For several decades, philosophers, researchers, and mathematicians have continuously argued over certain principles governing the accounting profession with individuals having differing perceptions or rather discernments. Normative theoretical approaches are among the earliest form of accounting theories that laid the foundation of several principles of accounting. Under the basic definition that applies in almost all literature sources, normative accounting theories are a form of accounting presumptions that describe ideas, ideologies, and philosophies on how individuals should undertake the accounting process.
According to Mattessich (1995), the normative accounting approach typically assists in homogenising the practice of accounting in the accounting profession and proponents of this approach have continuously argued that it suits the profession in both academics and practical application. Another probable name used to refer to normative theories in the existing literature is a prescriptive theory (Porwal 2001). Contrary to the positive accounting theory approaches, the normative approach does not in any way depend on radical changes in the practice to determine or justify the current practices in accounting.
Normative theories in their principles are a form of theories that attempt to explain or elucidate on how researchers, mathematicians, or philosophers should collect, analyse and communicate financial information pertinent to accounting practices. According to Porwal (2001), normative accounting approaches depend entirely on principles that accountants must adopt in their profession. In short, the normative is approach sounds more authoritarian compared to the positive accounting approach. Coetsee (2010) postulates, Normative theory represents real-world situations, not as they are, but as they should be .
The methodology used in research and development of normative approach depends entirely on standardised accounting principles to validate any information pertinent to the accounting practice. Given such principles correlative to normative approaches, accounting models using these approaches must be specific for the possibility of its achievement to remain positive, successful, and believable to humans, failure to which they remain irrelevant. However, the approach has continuously proven significant in the current epoch, though with numerous criticisms as evident in the accessible literature.
Positive accounting theory
Positive accounting theory seems to be the most contemporary accounting approach that has become almost acceptable, though with numerous critiques just as the normative accounting approaches (Jeanjean & Ramirez 2009). The positive accounting theory approach sometimes can appear as descriptive in some studies. According to prior studies, the modern positive accounting approach and its relative research began blooming in the 1960s as researchers provided empirical finance methods for evaluating the prevailing principles governing accounting practice (Kabir 2010). Positive accounting theory approaches are presumptions based on observations, analyses, and decisions depending on the contemporary changes occurring in principles of accounting.
According to Porwal (2001), the descriptive or positive methodology will attempt to justify some of the accounting practices deemed useful and the normative or prescriptive methodology will attempt to justify some of the accounting that accountants ought to adopt (p.11). Typically, the positive or descriptive accounting methodology depends on other numerous accounting approaches to establish relevant principles in the accounting profession. The principles are not constant and change depending on radical changes in the contemporary accounting profession.
Critiques of the theories
The complexities and non-uniformity in the two main accounting theories and their relative principles are constantly raising different reactions and protracted debates amongst accounting professionals. Despite their equal significance in the accounting profession, normative and positive theory approaches possess numerous loop whorls in the sense that the critiques on their validity and reliability emerge, making it uneasy to ascertain basic accounting principles. According to Jeanjean and Ramirez (2009), normative accounting theory approaches in several instances have failed to have the most essential theoretical principle that involves acting as a guide to the development of new procedures and practices useful in the accounting profession, since it assumes contemporary matters.
On the other hand, Jeanjean and Ramirez (2009) postulate that positive theory approaches have few substantive links between theory and the determination of the practices themselves and hence require a high degree of decoupling between research and development of accounting techniques to validate their significance. With these disparities and more, the following is a breakdown of critiques on normative and positive accounting theory approaches.
Critiques on normative accounting approach
Normative accounting approaches have insisted on the improvement and standardisation of practices and profession of accounting. As postulated earlier, it does not rely on radical changes in the accounting practice to ascertain its principles. However, according to Belkaoui (1996), the principal purpose of an accounting theory is to present a logical basis necessary for the prediction and justification of accounting behaviour and procedures.
In several cases, the most common criticisms on the application of the normative or prescriptive accounting approach occur when the convectional model engenders outcomes that are spontaneously dissimilar from the observers objectivity. In this sense, two important things exist in this account, when independently rational actions result in most unpleasant outcomes contrary to the prevailing accounting principles and when preferences give the impression of destructiveness to societies or individuals interests. Normative or prescriptive accounting theory approaches tend to support most government organisations where the majority of the criticism emerge, making the entire approach, including its validity and reliability in the accounting profession questionable.
Normative or prescriptive accounting technique has been a form of historical cost accounting strategy. In their support for the more contemporary positive accounting approach, numerous researchers have argued upon the reliability of the normative accounting approach. Researchers have argued that normative accounting approaches rarely consider contemporary matters arising from the accounting profession and therefore give chance for manipulation.
Watts and Zimmerman (1990) have constantly argued since the 1970s on the normative accounting approach that government regulation creates the incentive for individuals to lobby and that accounting theories justify political lobbying (p.4).
Based on its definition and the principles it rests upon, the normative accounting approach does not depend on radical changes in the behaviour and events of the profession, it becomes ineffective in the decision-making procedure undertaken in the contemporary accounting profession (Coetsee 2011). Enforcing accounting principles in the contemporary accounting world may seem autocratic, as the prevailing accounting, the profession has intensified democratic decision-making based on logical ideologies than presumptions existing in outdated theories.
The normative or prescriptive accounting approach neglects several basic radical changes that may prove significant in determining the outcomes of the accounting procedures. Normative theorists have continuously argued that the emergent trends in the market and production paradigms have no impact on the accounting principles (Mattessich 1995). They have constantly posited that standardisation of accounting principles is necessary to eradicate multi-manipulative practices in the accounting profession. The accounting procedure typically fails to recognise radical changes in the market entities, which provides no significance in the validity of accounting in the contemporary business world.
The must use of ideologies and standards produced by the normative accounting experts may not precisely provide logical solutions to the current situations that need consideration in the current business world (Mattessich 1995). As the normative accounting, strategy claims that the positive accounting approach falls under the self-interested income reducing strategies, proponents of this accounting approach have failed to produce evidence on how managers manipulate the accounting standards. With such circumstances, normative uncertainly remains a historically biased accounting approach.
Critiques on positive accounting approach
Despite it being a modern accounting approach based on observations and analysis of the prevailing changes in the accounting profession, positive or descriptive accounting methodology has received several criticisms from various positive approach adversaries. According to Watts and Zimmerman (1990), the criticisms of the positive accounting approach stem from two main perspectives: those concerning issues related to research methods (inclusive of the inferences employed) and issues on the accounting methodology itself (including the philosophy of accounting science). According to Coetsee (2010), in its broadest sense, positivism is a rejection of metaphysics&it is about finding truth and providing it through empirical means (p. 5).
However, in the real sense research methodology must remain imperative throughout the research and development process by ensuring the parameters of validity and reliability remain significant (Whittington 2007). The rationality and lucidity of the accounting research methodologies have constantly argued and elucidated on the importance of validity of research methodology and hence any study contrary to such principles remains irrelevant.
Disproportionately, the research methodologies used in the positive accounting theory approaches have continuously varied depending on researchers and the prevailing circumstances in the accounting profession. According to Watts and Zimmerman (1990), following evidence from the empirical facts reviewed in the positive accounting analyses, researching using descriptive accounting techniques may result in numerous disparities.
For instance, the firm size and dividend plans in accounting research may understudy or omit relevant accounting variables; positive theories may be value-laden, demonstrate a sense of masking conservative biasness, or even inappropriate methods used in researching may produce irrelevant theories. Sometimes the presentation of the arguments in the research or studies undertaken in a positive accounting approach may reveal biasness or the empirical evidence may remain unbalanced causing erroneousness in designing accounting principles (Boland & Gordon 1992).
Some approaches may concentrate most on the sociology of accounting, empathise on emerging issues, and forget relevant accounting principles that lead to ambiguities in the results of the research. A positive accounting approach may however remain questionable in the contemporary business environment where management, integrity and employee motivation remain paramount performance variables. In the case of issues on the accounting methodology or profession itself, positive accounting technique remains undesirable.
With the current management scheme, which considers managers as the presidents of the prevailing organisations in the current world, much remains anticipated in the positive accounting technique. According to Jeanjean and Ramirez (2009), the positive accounting technique is vast and depends entirely on several different approaches to arrive at an ultimate accounting opinion, where manipulation of accounting figures and another form of impunity may arise.
In almost all governmental and non-governmental organisations, managers have always played a prevalent role in determining accounting standards. Managers in organisations employing positive accounting techniques may constantly disagree on the opinions governing the determination of accounting standards and principles for personal interests and not according to the companys desires. Given such facts, managers may propose accounting standards with loop whorls to money looting.
Conclusion
Protracting debates on the principles underlying the presence of normative and positive accounting approaches are becoming the most domineering accounting matters. The existing discrepancies in the two main accounting principles are constantly raising differing opinions across the accounting profession with an individual having difficulties in understanding basic accounting principles necessary in delivering accurate accounts in the present world.
However, despite the justification of both accounting approaches in numerous empirical pieces of evidence, the debate is continuously overwhelming and confusion in the accounting process is augmenting. The positive accounting approach appeared predominantly to provide a significant shift from the monotonous practice of formulating accounting people through standardised means and improving accounting through contemporary issues. The normative accounting approach instead did not cease from arguing on its significance in the accounting profession. Nonetheless, based on my personal opinions positivism in accounting is essential to improve the profession.
Reference List
Belkaoui, A 1996, Accounting, a Multiparadigmatic Science, Greenwood Publishing Group, Westport.
Boland, L & Gordon, I 1992, Criticising Positive Accounting Approach, Contemporary Accounting Research, vol. 9 no.1, pp.142-170.
Coetsee, D 2010, The role of accounting theory in the development of accounting principles, Meditari Accountancy Research, vol. 18 no.1, pp. 1-16.
Jeanjean, T & Ramirez, C 2009, Back to the Origins of Positive Theories: A Contribution to an Analysis of Paradigm Changes in Accounting Research, Accounting in Europe, vol. 6 no. 1, pp.107 -126.
Kabir, M 2010, Positive Accounting Theory and Science, Journal of centum Cathedra, vol. 3, no. 2, pp. 136-149.
Mattessich, R 1995, Critique of accounting: examination of the foundations and normative structure of an applied discipline, Quorum Books, Westport.
Porwal, L 2001, Accounting Theory, Tata McGraw-Hill Education, Noida, India.
Watts, R & Zimmerman, J 1990, Positive Accounting Theory: A Ten-Year Perspective, the accounting review, vol. 65 no. 1, pp. 131-156.
Whittington, G 2007, Profitability, accounting theory, and methodology: The selected essays of Geoffrey Whittington, Routledge publishers, London.
The expansion of the global interactions especially in terms of the global market is what led to the need for the enactment of international standards. Therefore, the international standards are normally developed by global or international organizations in order to regulate the operations of various processes that are carried out internationally. International standards aim at bringing the global organizations at par in terms of their system operations.
This way, they help most of the nations to overcome the technical barriers that could hinder them from operating globally (Levitt, 1998, p.80). Among the various international standards that have been developed are the International Accounting Standards. These have come in handy to help most of the accountants and accounting firms overcome the transaction barriers that were there before the development of these standards.
This paper will therefore explore the development of the International Accounting Standards and look at their implementation in most of the countries. A list of the International Accounting Standards will also be provided in the paper as well as the role they play in the accounting world.
International Accounting Standards (IASs)
In 1973, the International Accounting Standards Committee promulgated the International Accounting Standards, which gave details and explanations of how various business transactions and other particulars were to be reflected in the financial statements prepared by enterprises.
Most of the business enterprises operating globally were required to comply with all the specifications of the IAS. Nevertheless, in 2001 the International Accounting Standards Board changed the International Accounting Standards to International Financial Reporting Standards (IFRS). Despite the change of name, they served the same function, which is to guide in the way companies and other business enterprise report various particulars in the financial statements.
The Functions of the International Financial Reporting Standards
Before a company from any country considers doing business outside its scope, which is in the global market, it has to put into consideration the restrictions that have imposed by the governments of their target countries. Most often than not, there are barriers that could hinder any business transactions between different countries.
It is because of this reason that the International Financial Reporting Standards were developed in order to harmonize the business operations within countries all over the globe (International Accounting Standards Board, 2007). As such, they ensure that there is increased transparency in reported financial standards since the reporting methods are similar as stipulated by in the IFRS. The development of these standards can be said to have created level grounds for the global businesses.
Examples of the International Accounting Standards
The list of the international accounting standards is almost endless since new standards keep on being created almost each day given the developments in the global business.
It is therefore the obligation of the business enterprises and companies to be on the lookout for any new standards in order to provide updated financial statements. Below is a list of the nine accounting standards that have to be strictly followed by any company that seeks to comply with the International Financial Reporting Standards in its accounting function. They include:
IAS 1 Presentation of financial statements
IAS 2 Inventories
IAS 3 Cash flow statements
IAS 8 Accounting policies
IAS 10 Events after the reporting period
IAS 16 Property, plant, and equipment
IAS 18 Revenue
IAS 37 Provisions and contingent liabilities
IAS 38 Intangible assets (Finch, 2008, p.3)
The aforementioned accounting standards form the baseline to be used by those enterprises wishing to be compliant to the International Accounting Standards in reporting their financial statements. However, it should be noted that even the accounting standards that have not been listed are equally important in reporting of financial statements.
Implementation of the Accounting Standards
To the surprise of many, the implementation of the IFRS was not as difficult as many thought since it was easily and quickly adopted by most nations. About 110 nations throughout the globe have incorporated the IFRS into their accounting systems either as a permitted accounting method or as an accounting requirement. Out of these, 85 countries now require that for any company to be listed domestically, it has to comply with the IFRS.
Despite the fact that most of the nations including Europe, India, Russia and Australia just to mention a few, have easily adopted the IFRS, the United States of America is on the compromise as it continually pushes for the US GAAP (Generally Accepted Accounting Practices) to becoming a universal standard. This has in turn led to debates to compare the US GAAP with the IFRS among other international accounting standards.
The reason behind this is that for a long time the United States of America has always wanted to control the international accounting standards or rather has a strong influence in the same. Nevertheless, the United States of America has in the recent past, showed signs of adopting the IFRS, which will act as a secondary system of accounting for those companies in the US that will prefer it.
All the same, the adoption of the IFRS by the United States of America is expected to bring about further debate on which of the two accounting systems (GAAP and IFRS) will be favorable to harmonize the global accounting practices (Harris, 1995).
With most of the countries not agreeing to the idea of the harmonization of the accounting standards, it is agreeable that the issue of harmonization would significantly affect the international standards. One such country is Vietnam, which has for a long time insisted that those wishing to do business with it have to comply with the Vietnam Accounting System (VAS).
However, in spite of being required to prepare the financial statements in Vietnamese language, most countries have complied with this requirement in order to do business with Vietnam. Nevertheless, it should be noted that there are several benefits that would come about as a result of the harmonization of the accounting standards (McGregor, 1999, p.162).
First, the information in the financial statements prepared using the harmonized accounting standards will be able to be understood by each person around the globe. Secondly, this will increase the level of transparency in the business transactions hence ensuring the success of the global market.
Conclusion
From the above discussion it can be clearly concluded that the International Accounting Standards among other international standards of great significance in the global operations. This is because in addition to making people understand the reported financial statements, they also ensure a high level of transparency in the global business transactions.
One such important international accounting standard discussed above is the International Financial Reporting Standards, which have been adopted by most of the countries around the globe because of the major role they play in enhancing cross-border business transactions.
Reference List
Finch, C. (2008). A students guide to International Financial Reporting Standards. Wokingham: Kaplan Publishing.
Harris, T. (1995). International Accounting Standards versus US-GAAP reporting: Empirical Evidence based on Case Studies. Cincinnati (OH): International Thomson Press.
International Accounting Standards Board. (2007). International Financial Reporting Standards 2007 (including International Accounting Standards (IAS(tm)) and Interpretations as at 1 January 2007). Dayton: LexisNexis.
Levitt, A. (1998). The Importance of High Quality Accounting Standards. Accounting Horizons, 12(1), 79-82.
McGregor, W. (1999). An Insiders View of the Current State and Future Direction of International Accounting Standard Setting. Accounting Horizons 13(2), 159-168.
People are diverse in every sense of the word. Their cultures, languages, cognitive abilities, and the manner in which they make sense of the events that occur around them support this assertion. In fact, if individuals from the same ethnic group or clan are observed, it will be seen that even within these smaller social groupings, there are distinct differences in how they handle their day-to-day activities or respond to various occurrences (Linstead, 2006).
These differences that exist in the manner in which different individuals make sense of occurrences or situations in which they find themselves are what led Harold Garfinkel to develop the concept of ethnomethodology (Pollner, 2012). In the light of this background, this essay attempts to make sense of the way people interpret the occurrences that take place around them and how this interpretation fits within the framework of ethnomethodological theory. It further analyzes a real life occurrence in which different people gave differing accounts of the same event to establish whether the scenario agrees with ethnomethodological theory.
In developing the concept of ethnomethodology, Garfinkel and other proponents of his idea came up with the concept of accounting. Accounting in this context refers to the tendency of people giving varying descriptions of the same occurrence (Pollner, 2012). The culture, beliefs, and values of individuals were found to influence how they account for occurrences. These accounting practices are beneficial in some cases, but are also harmful in other cases.
One of the benefits that can be drawn from the accounting practices within the context of ethnomethodology is that they provide a basis for the analysis of different accounts of the same occurrence to find out where the truth lies (Winship & Muller, 2011). This benefit is of significance to the criminal justice system because judges or jurors are able to pick out the truth based on the analysis of different accounts of an event from witnesses.
The second benefit of the concept of accounting insofar as ethnomethodology is concerned bases on the explanation of the divergence of opinions among people (Winship & Muller, 2011). It helps people to understand each other within a context that was initially out of the reach of human knowledge. The concept helps people to understand each other better as they engage in their day-to-day interactions thereby eliminating the chances of unnecessary conflict.
The third benefit that society can draw from ethnomethdological accounting is in helping people to the thinking patterns of different individuals (Winship & Muller, 2011). For instance, in the experiments where college students were asked to behave as if they were guests in their own homes, the confusion that ensued in some cases can be used to explain the confusion that arises when the normal social order is disrupted. Therefore, accounting can be used to explain the confusion that characterizes emergency situations.
Despite the outlined benefits, accounting has its shortcomings. Taking into account the fact that peoples interpretation of situations is influenced by their social beliefs and societal norms rather, a strict focus on facts leads to the distortion of the truth (Winship & Muller, 2011). The number of accounts of an event an inquirer gathers does not matter, because each of them is normally distorted due to the background and beliefs of the giver.
Therefore, although it is an inherent part of human behavior, accounting may serve to drive the truth further from an inquirer rather than bringing it closer. Additionally, in cases of emergency where an inquirer needs to establish the facts within a short period, analyzing different accounts of an occurrence may be time wasting and discouraging (Winship & Muller, 2011). If, for example, the information was to be used to facilitate a rescue mission, the mission may delay or turn out to be fatal if the unauthenticated information is used. Therefore, in this sense, the concept of accounting within the context of ethnomethodology is harmful.
How Accounting Fits within the Ethnomethodological Theory
As previously mentioned, ethnomethodology is a theoretical concept that was developed by Garfinkel in an attempt to explain why people interpret life situations in different ways. The theoretical framework of ethnomethodology has several tenets, which denote the contexts within which it is applicable. In the overall sense, the main idea behind the concept of ethnomethodology is that human beings interact within the confines of societal expectations such that if the established order is disrupted, no interaction can take place (Pollner, 2012).
Accounting analysis or the documentary method, as Garfinkel initially called it, was the core concern of ethnomethodology when it emerged. Using several experiments, Garfinkel sought to find why people react the way they do in various life situations. He discovered that, if the normal social order were disrupted, these reactions would be more conspicuous. According to Garfinkel, accounting is a result of indexicality and reflexivity (Pollner, 2012).
In the context of ethnomethodology, indexicality refers to the use of thorough explanation (illustration) to drive a point home (Pollner, 2012). Reflexivity, on the other hand, refers to the use of tangible examples to make sense of a situation (Pollner, 2012). A combination of the two gives what came to be known as accounting. Thus, it forms the core of the ethnomethodological theory because other concepts such as conversation analysis and the study of institutions are based on it.
Over the years, ethnomethodology has evolved considerably. It currently focuses on conversation analysis and the study of institutions to make inquiries. This trend shows an attempt to depart from the Garfinkels approach. However, an important point to note is that accounting still forms the foundation for these new approaches.
Analysis of a Real Life Example of Accounting
In 2013, terrorists besieged the Westgate shopping mall in Nairobi, Kenya (Howden, 2013). The incident was characterized by bizarre killing. At the end of the incident, it is estimated that over 60 people lost their lives and about 200 were wounded (Howden, 2013). Some crucial differences are observable in the manner in which the mall attack was reported by the Guardian (UK edition) and the New York Times. A witness informed to the Guardian that the assailants were armed with M-16 rifles while the New York Times identifies the rifles as Ak-47s and G-3s (Gettleman & Kulish, 2013; Howden, 2013). Intriguingly, the witness who told the Guardian that the rifles used by the assailants were M-16s was a Kenyan Navy officer who cannot be excused for having limited knowledge about rifles (Howden, 2013).
Another key area of difference is that the Guardian estimates the death toll at 67 people while the New York Times places it at 62 people. It may not be possible to establish the exact number of the people who lost their lives in the attack, but clearly, it emerges that the New York Times took a conservative approach in giving its figure.
While it cannot be said that any of the newspapers attempted to underplay the incident, it is clear that the New York Times took an approach that sought not to blow the matter out of proportion. Further, the Guardian delves into plenty of details with a number of images to relate the incident while the New York Times only uses a single image and is somewhat conservative with the details.
Nonetheless, some areas of similarity also exist in the two accounts. Although the New York Times appears to have taken an approach that sought to make the incident sound slightly soft, it clearly captures the somber mood that characterized the incident. The Guardian also captured the somber mood, albeit with plenty of details. This attribute shows that both newspapers appreciated the fact that the incident was an attack on the social order that exists in a normal society.
Relevance of the Analysis to Ethnomethodology
The examples given above clearly show that different people can narrate one incident differently. As pointed out in the benefits of accounting, this concept helps in ascertaining whether a claim is true or not. For instance, using the death toll as an example, there was no generally accepted figure for the number of people who died in the attack. Additionally, the fact that different accounts of the rifles that were used by the assailants exist shows that in the confusion that prevailed no one cared to find out with certainty the exact kind of rifles that were used.
This reaction is natural because at the time, only survival mattered to the victims of the attack. Therefore, ethnomethodological accounting opens a window of insight into the way people think. As such, it is an important area of study that needs to be developed further.
Howden, D. (2013). Terror in Westgate mall: the full story of the attacks that devastated Kenya. The Guardian [London]. Web.
Linstead, S. (2006). Ethnomethodology and sociology: An introduction. Sociological Review, 54(3), 399-404. Web.
Pollner, M. (2012). Reflections on Garfinkel and ethnomethodologys program. American Sociologist, 43(1), 36-54. Web.
Winship, C., & Muller, C. (2011). Ethnomethodology and consequences: Comment on Emirbayer and Maynards Pragmatism and Ethnomethodology. Qualitative Sociology, 34(1), 283-286. Web.
As an analyzed case of violation of accounting ethics, the 2009 scandal will be considered in which the Indian outsourcing company Satyam Computer Services became involved. The key problem lies in the significant overestimation of revenue (approximately $1 billion), which corresponds to a legal violation regarding the falsification of income and cash balances. The financial fraud was proven as the founder of the company pleaded guilty. Breach of trust can be seen as one of the ethical issues associated with this case. The scandal was described by Timmons (2009) in The New York Times. The analysis of the Satyam case requires assessing the violations of legal accounting principles to identify prerequisites for fraudulent activities. In addition, the ethical issue of breach of trust deserves attention as a crucial problem in conducting fair financial business.
Interested Parties
Since the Satyam case caused a public outcry and became one of the major accounting scandals of the late 2000s, one can speak of a wide range of parties involved. Since the firm performed outsourcing activities, it was financed by different companies interested in such services. Along with the Indian Ministry of Finance, individual participants became involved in the Satyam scam. Timmons (2009) mentions authoritative global financial market participants such as Merrill Lynch, Cisco, Ford Motor, and many other large corporations. As a result of the fraudulent scheme initiated by Satyams founder, all these businesses suffered losses. Along with financial issues, these brands suffered reputational problems because partnering with an unreliable company was the result of an ineffective market interaction policy. Thus, Satyam initiated a series of checks under which respected companies also fell.
In addition to the company itself, the audit team was a stakeholder in the scandal and was subsequently charged and punished with a substantial fine. According to Timmons (2009), PricewaterhouseCoopers, an audit service that partnered with Satyam, was fined for failing to comply with audit principles, namely overlooking the fraudulent scheme. Its activities were declared illegal because, having the resources and ability to control the financial aspect of Satyams business, PricewaterhouseCoopers did not pay due attention to reporting, which increased the public outcry. Given the transparency of market relationships and the value of partnerships as algorithms for expanding business capabilities, this outcome confirmed the importance of third-party checks. Therefore, PricewaterhouseCoopers was also a vulnerable participant in Satyams fraudulent scheme.
Another interested party was the Indian Central Bureau of Investigation (CSI). Being involved in the work to identify fraudulent transactions, including in the financial sector, the specialists of the Bureau received a signal about violations in Satyam. However, as Timmons (2009) remarks, the CSI was not a board with a direct interest in punishing all those involved, as it did not exercise a judicial function. As a result, Ramalinga Raju, the founder and main fraudster of Satyam, was not taken into custody due to delays in the case, and the fine was the main outcome of the scandal.
The case under consideration concerns all of the listed parties to a greater or lesser extent, but in addition to legislative violations, the ethical factor turned out to be involved. Shattered trust among partners is a negative outcome of Satyams operations, and the financial market has suffered from this. Acting in selfish interests, the founder of the Indian firm did not justify the trust, and for other participants in the target market, this was a signal to control operational activities more carefully. Thus, a wide range of stakeholders proves the objectivity of the hype surrounding the case of the Indian company.
Causes
While analyzing this case of accounting fraud, one can note that the situation with Satyam combines both ethical and legal violations. From a cultural point of view, there were no prerequisites for blaming the firms environment for allowing fraud. The Indian market has always been a promising platform for the development of various financial businesses, and a large number of partners from different countries, including the United States, confirm this. Therefore, the problem was more of a fraudulent initiative by the firms management rather than an environment conducive to doing business under abusive conditions.
When speaking about the specific single factor that caused Satyams fraud, one can emphasize the weak control from the responsible authorities. The absence of strict requirements for financial reporting led to a relaxation of audit activities. Having no barriers and restraints, the founder of Satyam stopped working to ensure comprehensive financial responsibility to partners. As a result, he began to use his business as a platform for generating profits that were not included in the audit documentation and were not noted by the tax authorities. This case is not unique in world practice, but it proves the relevance of attracting responsible and productive financial control algorithms to prevent such critical omissions. Excessive freedom in doing business proved to be unjustified as an idea that led to litigation. For global practice, stories related to accounting fraud are a trigger for optimizing control tools, and much analytical work is usually performed as soon as fraudulent schemes become public. However, these activities are carried out after the fact, and to prevent the repetition of deceptions, a preventive practice is more effective than a punitive one.
While assessing the nature of the accounting failure in question, one can assume that the cause combines legal and ethical backgrounds. On the one hand, Satyam hid real income and used the freedom to maintain financial records as tools for fraud, which was a direct violation of the law. Such behavior is unacceptable, first of all, from a legislative position and is a violation of existing financial reporting principles for market participants, especially at the global level. On the other hand, when counting on partners trust, the company did not confirm its activities with an honest financial policy, which was more likely due to the ethical aspect. Satyams clients, convinced of the firms transparency, did not make the necessary efforts to verify how robust and accurate the Indian companys reporting algorithms were. This, in turn, is evidence of excessive trust, which, although indicative of a positive market environment, can be a prerequisite for fraud, as was the case with Satyam. Therefore, the nature of the fraud in question can be characterized from two perspectives, both of which equally deserve condemnation.
Solution
Despite the fact that Ramalinga Raju was not taken into custody, the optimal resolution of the considered accounting issue would be a criminal punishment. The fraud initiated by him left its mark on all Indian financial companies and set a precedent for revisiting the existing principles of control. At the same time, Satyams case is in many ways reminiscent of the well-known Enron case, where the CEO was also not taken into custody, although his professional reputation was completely destroyed. With regard to the ethical perspective of the scandal, more formal commitments between the partners could make it possible to avoid similar situations in the future. If Satyams clients had documentary evidence of the firms financial activities, such a big scam might have been avoided. Close cooperation is evidence of mutual interest in transparent communication and the absence of pitfalls, and there is nothing offensive in this practice. Conversely, having a full understanding of Satyams business details, the firms partners would be able to perform a function similar to that of auditors, thereby coordinating the financial aspect of joint activities.
As a rational and potentially effective measure to promote at the legislative level, tightening supervision over the activities of audit services can be proposed. This initiative does not address individual ethical issues and aims to create a sustainable reporting framework to oversee those firms designated as oversight bodies. According to Ogoun and Atagboro (2020), the role of official agencies and government departments in this preventive practice is high. Audit firms that are under close state supervision can face less risk of being involved in financial fraud, whether on purpose or by mistake (Ogoun & Atagboro, 2020). The relevant legislative initiative may imply creating a specific oversight program or developing a strong legal framework that clearly defines the firms responsibilities. In this case, the threat of fraud is minimized due to auditors closer attention to their clients activities. As a result, optimizing the existing legislative framework is an adequate solution to prevent accounting issues similar to those of Satyam and avoid financial scandals.
Ethics is a central component of relations between companies and individuals. It regulates the behaviors of all parties and ensures that there will be no inappropriate actions, solutions, or strategies aimed at making benefit from causing harm to other organizations or individuals. For this reason, the observation of the Code of Conduct, containing the major ethical principles, is vital for the modern business world as it guarantees that all parties will remain satisfied and ready to continue cooperation. The analyzed case revolves around the ethical dilemma that emerges because of the disregard of one of the assumptions of the Code.
The major consideration of the case is the lack of respect for clients and partners, along with the violation of existing rules. Thus, Jay Barnes, an experienced treasurer, ensures Tiffany Lyons act in accordance with the strategy that has been employed by him for several years. It presupposes dating all checks the last day of the discount period to hold them four days beyond the discount period and acquire another four days of interest on money. If clients are not satisfied with the situation, the company can blame the post office and mail because of the checks date. In such a way, Jay uses the unfair practice presupposing the provision of false information to clients and hurting the image of the post. Such actions can also be viewed as unethical and violating the Code of Conduct.
The case presupposes several stakeholders involved in the process. First of all, the clients might suffer because of the delays in their money. Because they need this sort of services, they will continue the cooperation in most cases; however, they might experience some harm (Klein, 2015). Second, the post-office and mail can suffer reputational losses because of the actions of Key West Stores as they are blamed for delays. At the same time, the company is another stakeholder which benefits from the situation as it acquires money for a longer-term. Finally, Tiffany Lyons is another party to the conflict as she can be blamed for inappropriate behavior if she continues to act in this way.
From the case, it is possible to conclude that Tiffany should stop acting in the way offered by Jay. Although she learns how to work in the company, she should realize that such actions contradict the Code of Conduct and the principles of public interest, responsibilities, and respect (Weygandt et al., 2018). The given behavior is inappropriate and can precondition the deterioration of the companys image, financial, and reputational losses. For Tiffany, it is vital to consult with the companys top management outlining the strategy offered by Jay and emphasizing its unacceptability because of its unethical nature. As a new employee, Tiffany has a choice as she can ask for the assistance of other supervisors or company workers and discuss the given situation with them. In such a way, the strategy offered by Jay should not be continued and must be replaced by a new one, selected in accordance with the existing Code.
The case can be resolved by applying the principles of the Code of Conduct. Thus, it is possible to use the public of interest principle regarding Key West Stores (AICPA, 2020). It states that a specialist should hold the responsibility to the public and act respecting the interests of all clients (AICPA, 2020). Because the public interest is the collective well-being of the community of people and institutions, the harm done to one client can affect the whole society (AICPA, 2020). For this reason, it is vital to ensure that the actions of a specialist do not create the basis for the deterioration of the state of a client and other organizations involved in the provision of specific services.
From the perspective of the selected principle, the following plan can be recommended. First, Tiffany should inform Jay about the courses unacceptability and the need to adhere to the standard rules applied to the situation. Second, she should start dating checks correctly to avoid possible claims from clients or the post office. Finally, if problems with documents dated previously emerge, Tiffany should be responsible for clarifying these issues, communicating with clients, and asking for an apology insisting on the fact that the situation will not repeat in the future (Klein, 2015).
Altogether, the provided case demonstrates the importance of ethical principles in the functioning of various organizations. The disregard of the Code of Conduct might precondition serious harm to organizations and individuals and destroy the image of a particular firm. For this reason, specialists such as Tiffany and Jay should follow the existing rules and principles to avoid the emergence of disputable situations and be ready to contribute to the development of communities by their actions. Conflict situations can also be managed by applying the Code of Conduct. Only if the central assumptions of ethics are considered, people can benefit from the cooperation and engage in trustful relations needed for future achievement.
References
The American Institute of Certified Public Accountants (AICPA). (2020). Code of professional conduct. AICPA. Web.
Klein, G. (2015). Ethics in accounting: A decision-making approach. Wiley.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2018). Accounting principles (13th ed.). Wiley.
In human society, it is natural that people united with a certain joint goal need some rules of regulations according to which they plan to achieve this goal. As well, the monitoring of results of their performance is also demanded to see how successful the work is and what improvements are needed. Drawing from these factors, the sphere of accounting has appeared in human society as a means of monitoring the financial side of the performance of any organization. Currently, there are two major types of accounting, financial and managerial (Accounting for Management, 2009). While the former is mostly used, to sum up the results of work for a certain period and present the outside partners or investors with the data on an organization, the latter is exclusively internal. In other words, managerial accounting is the tool allowing managers of an organization to be aware of its performance and structure their future work accordingly.
Managerial Accounting
Essence
Thus, the essence of the area of managerial accounting lies in the fact that the managerial staff of any organization becomes able to control their own activities and see the progress in them based on the data provided in managerial accounting reports (Accounting for Management, 2009). The most important point in managerial accounting is, however, that it is directed at facilitating decision-making in organizations. In other words, reports directed to the organization managers are focused on the improvements needed and are equipped with recommendations for decision making (Bamber et al., 2008). For instance, if the income rates are on the decrease, managerial accounting reports not only state this fact but also suggest either a change in the organizations policy or some innovative ideas for marketing, promotion, etc. On the whole, managerial accounting is the toll that helps to keep the activities of an organization agreed with its goals and current and future opportunities.
Importance in Health Care
The health care sphere experiences the need for properly structured managerial accounting to an especially high degree. In the light of the fact that health care has a complex structure in the United States and the funding of this sphere is carried out through numerous sources including the Government, philanthropy organizations and private persons, it is obvious that monitoring of health care organizations performance becomes an extremely complicated matter (Garrison and Noreen, 2007). For example, to trace the cash flows that are directed from various sources it is necessary to involve the most qualified and professional specialists and to demonstrate to all the interested staff members how these flows should be distributed and used by the health care organization (Finkler and Ward, 2006). Finally, managerial accounting in health care helps monitor the performance of the organization in respect of equipment and efficiency of services offered so that too timely improve them.
New Employee Perspective
Ways to Explain
Accordingly, the best way to explain the importance of managerial accounting to a new employee in a health care organization is to specifically demonstrate the main ideas of managerial accounting and show the ways in which it can be fruitfully used in practice. First of all, it is the generally accepted truth that a managerial accountant looks forward, while a financial one looks backward (Finkler and Ward, 2006). This means that managerial accounting helps develop the organization by using the summed up results of the organizations financial performance to formulate the strategic needs and goals of the organization and assist the managers in decision making. Drawing from this, being a tool of development makes managerial accounting especially relevant in health care where the modernity of equipment and services offered predetermines both the lives and health of people and the performance of the organization as such (Bamber et al., 2008).
Ways to Use
As for the specific ways of using the managerial accounting in the area of health care, they include monitoring the financial performance of an organization, controlling the equipment modernization and services development issues in an organization, as well as making recommendations as for the improvements possible in this or that area of an organizations activity and useful for decision-making procedures (Garrison and Noreen, 2007). For example, a managerial accounting report can state the fact that equipment in a trauma department of a health care organization is outdated which leads to the complaints of patients and the decrease in the efficiency of the department work. As well, the report might recommend investing more funds in the department and updating the equipment as soon as possible to stop the decline and start the new wave of performance improvement.
Conclusions
As a result, we can observe the integral importance of managerial accounting for any kind of organization, especially for a health care one. In other words, managerial accounting is the tool allowing managers of an organization to be aware of its performance and structure their future work accordingly. The most important point in managerial accounting is, however, that it is directed at facilitating decision-making in organizations. In the area of health care, managerial accounting is used for monitoring the financial performance of an organization, controlling the equipment modernization and services development issues in an organization, as well as making recommendations as for the improvements possible in this or that area of an organizations activity and useful for decision-making procedures.
References
Accounting for Management. (2009). Introduction to Managerial Accounting. Retrieved July 3, 2009, from Accounting for Management.
Bamber, Linda S., Braun, K., Harrison, W. T. (2008). Managerial Accounting: International Edition. Pearson Education, Limited.
Finkler, S.A. & Ward, D.M. (2006). Accounting fundamentals for healthcare management. Sudbury, MA: Jones and Bartlett.
Garrison, R. H., Noreen, E. W. (2007). Managerial Accounting. McGraw-Hill/Irwin; 12 edition.
Accounting research papers may become a pleasure to compose, but for some writers, they may turn into a complete nightmare. The main reason for this is the complexity of accounting terms that are not always comprehensible for nonprofessionals. Therefore, before starting to write an accounting research paper, one has to realize clearly in which field of accounting he or she is specifically interested and what topic he or she can actually handle. The choice of the topic for an accounting research paper may be a hard process, but the present article about research papers on accounting may help the beginners tremendously.
Choosing an appealing research topic
When starting to write a research paper about accounting, the student has to research the fields of accounting topical for the present days and decide which topic can be potentially interesting for the audience he or she is targeting. There are such fields as business accounting, accounting ethics, management accounting, financial accounting, accrual, cash accounting, etc. There are many topics, each of which is potentially interesting and topical; hence, the students task is to pick the topic specifically appealing to him or her. The choice should fall only on the topic from which the student can get the maximum, and not less.
Popular research topics nowadays
Some popular topics related to accounting nowadays involve ethics in accounting and accounting standards. They have come to the forefront of scientific attention because accounting principles are very strict. Still, accounting professionals are continuously violating them nowadays for the sake of company survival in the crisis. So, some great accounting research papers can be written on complying with ethics and retaining the firms competitive advantage in terms of accounting, or the ways to follow accounting standards and avoid great losses.
Other options for finding a research topic
There is always a chance to return to basics and find something extraordinary in the fields often neglected by research paper writers. Hence, one can compose an excellent research paper on accounting on such topics as the history of accounting, the overall overview of accounting as a science, the educational basis needed for an individual to pursue an accounting career, and some modern career choices for accountants.
The career counseling session is devoted to the appropriate career intervention developed for the group of students with common interests and skills. The principal task of the counseling process is centralized around accounting career making. The group of students is to understand the main goals and professionalism they have to develop to become skilled and experienced accountants.
The career counseling session is divided into the following parts:
Accountant profession identification;
Necessary Skills possession;
Benefits of the career;
Major tasks for the students professional development.
Accountant career is aimed at the fulfillment of such important tasks as an organization, collection, analysis, and storage of the information covering all company financial transactions. This qualification is considered to belong to the most advanced in the current era of financial development. The preparation of tax reports, order and daily sales reports, checking the documentation and various movements within financial resources are to be professionally done by a skilled and qualified accountant.
The group of students is to develop many skills and obtain particular knowledge in the sphere of finance and analytical study to make a good career in accounting. Training and studies within the group of students should be aimed at through study of the mathematics which is considered to be one of the principal subjects for specialists in this field. Besides, students are to be skilled in analytical thinking and figures interpretation. The session is to disclose and identify the students skills and reflect major mistakes to be improved in the future for successful career making.
The group of students is united according to their interests and level of analytical skills; students interest in accounting career can be explained by the benefits of this profession in the modern world. Accountants have some advantages in the current job market; a skilled professional can have large opportunities of seeking credentials from all professional societies. Nowadays accounting is the background of successful business running that is why students obtaining the necessary skills in this sphere would have an opportunity to have become specialists in great demand.
Students from the session group are to demonstrate a deep knowledge of general accounting theory and reflect on their background skills in the analytical study. It is important to stress that students are expected to possess efforts and desire in studying such subjects as commerce, finance, and economics. In the future they are to develop their skills in business-related courses; besides, this profession is considered to be related to legal aspects, that is why students are to pass successfully Public Accountant examination to get a good and promising job. Most companies are interested in experienced specialists as this profession requires great attention and skillful attitude to all tasks, so, students are to understand the necessity to develop their future professionalism from the first lessons and courses. The needs in career development lie in obtaining all analytical skills allowing students to express their knowledge in every field of accountancy. (Accountants and Auditors, 2009)
The career of the accountant is considered to be a demanded one and offers great opportunities to skilled specialists. The main task of the student group is to develop all the necessary skills and obtain the knowledge which is important in accounting career making. Students will have an opportunity to become good specialists working in the interesting and profitable sphere.
References
Accountants and Auditors. Occupational Outlook Handbook. (2008-09). Web.