What do you understand by the concept of "professional ethics" for those working in accounting and finance

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Chris Connors        Skills for accounting and        AFEAG1004

        finance undergraduates                

What do you understand by the concept of “professional ethics” for those working in accounting and finance?  Outline some of the key issues of professional ethics that graduates working in accounting and finance may face.

When looking at ethics we need to look at the moral judgement of it and how it deals within ethics.  The perception of this may be what moral decisions or judgements may be faced in such things as preparing cash flow charts or auditing company’s accounts.  It is at this point that the public may assume, due to the mathematical precision that accountants are engaged in with accounting procedures, that there is very little capacity to make any sort of ethical decisions.  These are nonetheless stereotypes, which will look at now in more detail.

     For anyone working is accounting and finance, when they are preparing   figures, they should submit a ‘true and fair view’ of them in way that it is a description of reality, just like words.  However, there is no agreed definition of what a ‘true and fair view’ is so there leaves some anomalies as to the level of ethics that we may encounter within accounting and finance.

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     Whilst accounting is just like anything else in that it is another way of describing something in the world, it can still be described in different way.  Meaning, if you were to give the same set of accounts to two different accountants they could still present them in different ways.  So, whilst this isn’t unethical, depending on how exactly they are shown, a degree of ethics may come into it.

     This can be seen for the fact that nearly all accounting to some extent, is creative, the reason for this being that there is no clear ...

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