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Week 1 Acc/260

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Submitted By mytmous09
Words 285
Pages 2
Week 1 Checkpoint:
Chapter 1 page 25
Questions 13 &14

13. Is a professional accountant a businessperson pursuing profit or a fiduciary that is to act in the public interest?
This can be a double edged sword. Of course someone chooses to go into a certain field for financial gain. We all have to make a living but in order to be an Accountant there has to be some kind of pleasure in helping others with their financial futures. An accountant’s main goal is to act in the public interest. An accountant is there to help clients and to make sure things are on the up and up. It is the primary duty to act on behalf of the people not their own financial gain in this career choice. Ethically accountants fall into the same categories as lawyers, teachers and government officials.

14. Why is it important for a professional accountant to understand the ethical trends discussed in this chapter?

Accountants have to continuously be aware of all new laws, methods and any new ethical standards there are. It is an accountant’s duty to make sure they are aware of any new social ethical boundaries that are being crossed and how to avoid or handle these situations as they arise. Accountants are the ones that are the governing wall to keep ourselves and our client free of wrong doing whether directly or indirectly. All accountants should be educated with the new tax laws and to make sure that they are acting within the parameters given. Ethics is the most important thing in accounting. If one is unethical then there can be a lot of damage done for a company and any individual involved.

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