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Accountant Ethical Responsibility - Research Paper Example

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The author concludes that accountants’ responsibilities are important. They ensure that an accountant is working within acceptable terms. For instance, the principle of confidentiality ensures that every accountant protects the information that he/she gathers…
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Accountant Ethical Responsibility
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Download file to see previous pages Accountant responsibility applies to independent accountants. The obligation to uphold standards, laws, and principles of accounting is owed to creditors, stockholders, governments, and companies that hired an accountant. Despite, the demands of the accountant responsibility, there are complaints brought against accounting firms or accountants. An accountant like any member of the firm should strive to achieve the vision of the firm.
An accountant has various clients (Bryan, 1965). A company, an individual, or the government can hire him/her. All these clients require different services from an accountant. However, he has equal responsibilities to all of them. For instance, an accountant has various duties to the company, which consequently lead to the need for, certain responsibilities. An accountant has to ensure that he/she acts professionally because he/she is exposed to crucial information, which can harm a client in the case; it is not handled well.
A company hires an accountant to conduct bookkeeping and accounting transactions tasks. The company expects the accountant will add value to their company in his duties. The specific duties of an accountant depend on the size of the company and industry. The obligations of the bookkeeper can merge with those of an accounting clerk. There are various duties of an accountant. An accountant maintains track of a firms money. He/she ensures that the company has money for operations. He/she ensure that all the money invested into a company is accounted. An accountant prepares profit and loss statements and cost and closings account reports of every monthly. He/she bring together and analyze the financial information to create entries to accounts like document business transactions and general ledger accounts. He/she also creates, maintains, and coordinates the execution of accounting control and accounting procedures. Review and analyze expenditures and budgets for private funding, grants, and contracts.  ...Download file to see next pagesRead More
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