...1. What are the relevant FACTS - Jason Tybell, who has been employed as a junior accountant by Rodgers & Philips for two years, received high evaluation from his seniors. Jason was complained by one of the clients that he served because he made inappropriate comments in meetings with the client personnel and made a controller furious. Because of the fact, Jason was not asked to work for the clients that he did work on during his first year. It is unsure how this incident affects his future career yet. 2. Frame the Ethical Issue – Is this really all Jason’s fault and he should be blamed for the incident? 3. Identify the Stakeholders and their obligations – Who are ALL the people/entities who will be effected by whatever decision is made? Jason Tybell---has a right to be treated fairly, evaluated by the firm and counseled by his mentor n an honest and open manner. He should serve respectfully. William Jackson---as Jason’s mentor, he should treat him fairly, and advise him how he should act to operate to perform properly. Jason’s senior--- should evaluate the performance prudently. The clients---have a right to expect high quality performance from auditors. Company---should prepare reliable evaluation system and give honest evaluations to every employee. 4. Identify the relevant accounting ethics standards - feel free to about how “due care,” “honesty,” “integrity,” “objectivity and independence” all come into play. Due care in carrying out...
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...detailed Code of Ethics, an Ethics Training class for all employees, an Ethics Help-Line where employees can anonymously report any violations of the Code of Ethics, periodic evaluations, and a method of monitoring and tracking systems. The business benefit of these programs will help manage values and help maintain moral course in rustled times. This program cultivates strong teamwork and productivity along with helping...
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...Case 1-3 Accountants should be judged on communication skills, dependability, and credibility. Having good communication skills is important for working well with teams as well as being able to talk appropriately with clients. When there is a lack of communication, errors can be made and misunderstandings may occur. Being dependable is important because if your senior assigns you something they want to count on you to follow through with the work, also you would want to be counted on to attend all meetings. Lastly, accountants should be judged based on their credibility. If you have a good reputation, clients will feel better about the services you are providing them. Having good credibility can also help you receive more clients, which your firm will certainly appreciate. Staff accountants should not joke around with a member of a client’s organization. I do not think every moment you are with a client needs to be 100 percent business; small conversation about nonrelated topics is fine as long as it does not involve politics or information that need not be shared. However, goofing off or saying things that may offend your clients should not be tolerated. Since you are providing services for your client you should act with honesty, integrity, trust, and put the best interest of others first. Joking around can lower your reputation as well as clients may lose respect for you. When an employer gives a good evaluation to an employee I do not think they should turn around and...
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...Without management accounting information corporations in Botswana may find it difficult to create sustainable corporate governance. A qualitative approach using questionnaires and interviews were used to establish the extent to which management accounting tools are applied by the directors in the target companies. The research was carried out amongst listed companies on the stock exchange and the parastatal companies in Botswana. Furthermore documentation, for instance annual financial statements from the companies were reviewed. Most directors in the companies do not fully utilise the tools of management accounting in decision making. Management accountants have also failed to provide the relevant information to the board. To execute their duties efficiently, directors may need to call for the management accounting reports from the senior management level up to the board level and regularly use these reports to facilitate decision making. Key words: Management accounting, corporate governance. INTRODUCTION Management accounting, which was traditionally intended for internal use in companies has through its ability to measure value and present both current and forwardlooking information, developed into a key instrument to companies...
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...on the public accounting industry which rocked the profession. Despite a decade of revisions in rules and regulations (variously established by the Securities and Exchange Commission, Accounting Principles Board, and Financial Accounting Standards Board), public accounting firms were still perceived by many on Capitol Hill as biased in favor of their clients, incapable of or unwilling to police themselves, and at times participants in cover-ups of client affairs. Senator Metcalf even went so far as to suggest nationalizing the industry in light of these activities. Just prior to the Metcalf report, Daniel Potter began working as a staff accountant for Baker Greenleaf, one of the Big Eight accounting firms. In preparation for his CPA examination, Dan had rigorously studied the code of ethics of the American Institute of Certified Public Accountants (AICPA) and had thoroughly familiarized himself with his profession's guidelines for morality. He was aware of ethical situations which might pose practical problems, such as maintaining independence from the client or bearing the responsibility for reporting a client's unlawful or unreasonably misleading activities and he knew the channels through which a CPA was expected to resolve unethical business policies. Dan had taken the guidelines very seriously; they were not only an integral part of the auditing exam, they also expressed to him the fundamental dignity every independent auditor was obligated to maintain and calling of the profession-namely...
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...ACCOUNTANTS Jackson States offers many majors. If the career selection were child education or music, there is an opportunity to fulfill the career path at many colleges. Math and numbers have always been an interest, came as second nature. Today presented is the knowledge accounting explores, the professions to which it leads, and salary. In order to choose a major there has to be a connection. The accounting major prepares individuals for analysis, planning, control, and decision-making. In addition to accounting courses, students develop oral and written presentation skills, listening skills, leadership, and career preparedness. Courses required include economic and managerial perspectives on the relationships among business activity, economic outcomes, and evaluation of business performance. In-depth study in financial reporting, managerial accounting, taxation, and auditing will also be courses that are required gain knowledge in to become an accountant. Once obtaining a degree, there are many professions to choose from as an accountant. Standard accountant (General Ledger accountant), Auditor, Inventory accountant, Financial analyst, Budgeting accountant, Tax accountant, are all professions of accountants. The first one, standard accountant, verifies transactions and do the reports needed by those inside and outside the company. Auditors’ takes already prepared statements and ensure that they are legally reported. Inventory accountants are responsible for...
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...Accountant Track record of initiatives, analyses, and insights that contribute to the company’s bottom line. Skilled in financial reporting, expense reporting, cost accounting, G/L, financial closing, balance sheet analysis, bank reconciliation, Excel report building, annual and project budgeting, variance analysis, inventory analysis and reporting, cost estimating. Team player and articulate communicator. Versatile, detail oriented, and effective. Professional Experience , Dover, DE. June 2012- Present Accountant II- Responsible for the accounting and financial analysis of Chesapeake Utilities electric division including monthly closing duties and analysis of financial statements. • Perform all monthly cash posting and reconciliations for all Florida Business Units. • Responsible for all monthly closing activities including but not limited to journal entries, account reconciliations and analysis of financial statements related to the electric business unit. • Oversee accounting of Capital Expenditures and Retirement of Assets. • Responsible for all public filings for the natural gas and electric divisions including the FERC 1 and 2 forms and Statistical data filings • Leader of quarterly physical inventory counts at each location at ensure that all materials are accounted for and valued correctly within the Inventory System. • Involved in the drafting and reviewing of the SEC 10-Q and 10-K filings. Independence...
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...controllers department to keep track of property, plant, and equipment. This person may be called a fixed asset accountant, property accountant, or may have some other similar title. This accountant's primary responsibility is to maintain the official fixed assets records for the business or organisation. This may be a full-time position in a company that has a large investment in fixed assets and that has either a high volume of activity in fixed assets, or has major capital expenditure projects in process. In operations where keeping track of fixed assets does not involve sufficient work to occupy an accountant full-time, this responsibility may be combined with other accounting duties. The level of responsibility of the person in charge of fixed assets, and the functions performed will also depend on the size and nature of the operation, and the way in which the organisation is set up to handle accounting and reporting for property, plant, and equipment. Accounting for fixed assets may be more of a clerical function, involving entering data and maintaining records. Or the position could involve more of a financial analyst role, where the person would participate in economic evaluations of proposed projects. An audit role may also form part of the overall planning, controlling and reporting function for capital expenditures. What Does A Fixed Asset or Property Accountant Do? In an accounting and administrative capacity, the person in charge of fixed assets will maintain the...
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...Tybell”, Jason, a junior accountant in a professional accountancy corporation of Rodgers & Philips, is concerned about a meeting he had with his mentor, William Jackson. The meeting concerns the fact that Jason was not asked to work on the current year’s audit of two clients that he did work on during his first year because of complaints about Jason’s inappropriate comments in meetings with client personnel. Realizing there was a big problem with Jason, Jackson decided to schedule an appointment with other key people in the firm to discuss the future of Jason. From a rights perspective, Jason’s right to truth is threatened by his mentor William Jackson. Instead of telling Jason what his problem is, Jackson decided to end the meeting by making an excuse that he had to go somewhere. Jackson hasn’t counseled Jason in an honest and open manner. Jason is on the fast track with Rodgers & Philips, and he receives high evaluations from his seniors. However, he was requested not serve on the engagement team because of complaints about Jason’s inappropriate comments in meetings with client personnel. It is unfair between Jason and the other employees of Rodgers & Philips. All employees should be evaluated by the firm in an honest and fair manner. Jason was given a good evaluation on the audit by the senior. If an employee is being given a job evaluation, it is assumed that it will assess the employee’s strengths and weaknesses. However, the performance evaluation system is not a reliable...
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...International Journal of Business, Humanities and Technology Vol. 1 No.1; July 2011 A COMPARATIVE EMPIRICAL ANALYSIS OF CHARACTERISTICS ASSOCIATED WITH ACCOUNTING INTERNSHIPS James H. Thompson Associate Professor of Accounting Central Washington University 2400 S. 240th Street, Des Moines, WA 98198, USA. Phone: 206-439-3800 x3839 E-mail: jht@cwu.edu Abstract Internships are a popular element used to enhance accounting education. Although previous studies have considered internships, many have addressed enhancement of subsequent academic and professional performance. The purpose of this paper is broader and examines several characteristics of accounting internships: the frequency of participation, eligibility requirements, process for securing internships, level of participation, availability and amount of academic credit, area of assignments, nature of post-internship requirements, and benefits to students. Two random samples, one in 1998 and one in 2003, of 100 accounting programs were analyzed in the study. For each program selected, the survey was mailed to accounting program administrators. Responses were collected by fax. The results of this study should be of interest to accounting students, faculty program administrators, and practitioners. Gaining real-life knowledge of accounting tasks and obtaining insight regarding career planning were the two most important benefits identified. Future research should consider the perceptions of accounting students and practitioners...
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...possibility of losing the engagement e. Having a close business relationship with a client f. Potential employment with a client g. Contingent fees relating to an engagement 2. Self-review threat – the threat that a professional accountant will not appropriately evaluate the results of a previous judgment made or service performed in forming a conclusion about the subject matter of the engagement. Examples of the circumstances that may create self-review threat include: a. A member of the engagement team being, or having recently been, a director or officer of the firm. b. A member of the engagement team being, of having recently been, an employee of the client in a position to exert direct and significant influence over the subject matter of the engagement. c. Performing services for a client that directly affect the subject matter of the engagement. d. Preparation of original data used to generate financial statements or preparation of other records that are the subject matter of another engagement. e. Reporting on the operation of financial systems after being involved in their design or implementation. f. The discovery of a significant error during re-evaluation of the work of the professional accountant in public practice. 3. Advocacy threat – the threat that a...
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...Qualifications Over nine years of experience in business accounting and financial services. My experience includes business consulting services (i.e., internal controls and process documentation, diagnostic review of company departments, budget developments), forensic accounting services (i.e., business interruption, business personal property and employee dishonesty assessments) and litigation support services (i.e., assess and measure economic losses due to breach of contract, malpractice, and negligence events), as well as audit engagements, including internal audit co-sourcing, and SAS 70 audits. I also participated in numerous business accounting services engagements, including restructuring of accounting departments, as well as accounting assistance during monthly closing (i.e., oversee general accounting functions, including AR/AP, variances analysis, and account reconciliation of a client in the manufacturing industry). Strengths include general ledger, financial statements, financial analysis, budgeting, cash management, and internal and external reporting. Compute skills include proficiency in Excel, Peachtree, QuickBooks, Oracle and MS Office. Professional Experience Rodríguez & Luis, C.P.A., P.S.C., (“R&L”)Old San Juan, P.R. As employee of R&L, I have being promoted in four (4) times since August 2002. Currently, I possess a manager position in R&L. Position that require from me to maintain expertise in current professional practice, have knowledge of...
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...UNIVERSITY OF JOS FACULTY OF MANAGEMENT SCIENCES DEPARTMENT OF ACCOUNTING MASTERS IN ACCOUNTING AND FINANCE (M.Sc) ACC 512 – ADVANCED MANAGEMENT ACCOUNTING “ENVIRONMENTAL MANAGEMENT ACCOUNTING AS A STRATEGY FOR CORPORATE SUVIVIAL” PRESENTED TO THE COURSE LECTURER – PASTOR j a OLOREDE BY; OLUMIDE ABISOYE OLOWOKURE PGSS/UJ/00083/10 Introduction Environmental accounting is a broader term that relates to the provision of information on environmental-performance to different stakeholders both within, and outside, an organization. The United States Environment Protection Agency (US EPA) sees the main function of environmental accounting as that of bringing environmental costs to the attention of corporate stakeholders who may be able and motivated to identify ways of reducing or avoiding those costs while at the same time improving environmental quality. Environmental accounting has three major aspects. 1. National Income accounting, which addresses the environmental accounting need of the nation and it’s external in nature. It is basically the micro economic measure which may use for instance physical or monetary units to refer to the consumption of the nation’s natural resources. 2. Financial accounting which addresses the environmental accounting needs of the firm this is also external in nature. This may simply be the estimation and public reporting of environmental liabilities and financial material environmental...
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...Posh Pastries Helping Hands | Lima,Peru Expansion | Prepared for: U.S Department of State, Special Grant Review , Business Analyst of Posh pastries Management Team | | PROJECT DESCRIPTION Peru has one of the fastest growing economies in South America, so we at Posh Pastries have decided to expand operations to the capital city in Peru. Posh Pastries achievement in the USA (where 90% of sales are made) and expansion to Canada, Northern Mexico and Rome assures us that we are ready to successfully expand to South America. Our goals are to establish a strong relationship with Peru, help the underprivileged acquire a foundation to further their career, and expand our product line to higher end venues. We chose Peru because it is currently one of the leading, fastest growing economies in South America, predicted to eventually surpass Brazils booming economy. Peru’s economy is expected to increase in the next decade, predicting a secure economic establishment with expected growth. Posh Pastries will partner with local high schools with higher drop out rates to encourage students to stay in school. Each paid intern will be expected to participate in a twelve-week training program where they will learn the daily operations of Posh Pastries. Students who demonstrate talent and dedication will be eligible for one of our part-time jobs at the end of the training program. Posh pastries...
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...accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. Auditing should be done by a competent, independent person. “The auditing profession offers a wide range of employment opportunities for new accountants. Most accounting firms offer client services in three areas: auditing, tax, and consulting. A new accountant might be hired to work in any of these areas. In the audit area, the accountant may work for a variety of clients including private or public companies, clients in banking, insurance, manufacturing, technology, retail, health care, or government. Individuals working in the audit area may also spend most of their time providing internal audit services to clients rather than working as an external auditor. Working in any of the areas in an accounting firm may be one of the most demanding jobs, but it is also one of the most interesting, exciting experiences and a great way to prepare to work in the corporate business world.” “What is Auditing?” Web. 29 September 2013 Accounting is the recording, classifying, and summarizing of economic events in a logical manner for the purpose of providing financial information for decision making. To provide relevant information, accountants must have a thorough understanding of the principles, and rules that provide the basis for preparing the accounting information. In addition, accountants must develop a...
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