The purpose of accounting reports is to provide management and investors with accurate and timely information on the financial status of their company. Sometimes, management uses accounting to hide problems. This approach not only violates accounting standards but also hides the true problem from investigation. It does not solve the base cause of the problem. It allows the problem to increase, often times to a point where the subsistence of the company is in jeopardy. …
showed first 75 words of 814 total

showed last 75 words of 814 total
…In the past there were aspects of the profession that were learned through experience. However, many people agree that accounting educators can teach these aspects. Ethical theory should be introduced at the training stage, so that students are exposed to ethics before entering the profession. It is quintessential that the profession intensifies moral development, encourages the skills to make reasoned decisions and encourages professional ethics. References: www.investopedia.com www.accountingeducation.com www.accounting-help.com