Importance of Professional Ethics in Accounting and Fundamental Principles

This article discusses the importance of professional ethics in the field of accounting and provides an overview of the five fundamental principles that guide accountants in their ethical conduct. It covers topics such as the relevance, reliability, and comparability of financial information, as well as the types of financial and non-financial information used in decision-making. The article also includes a case study on the financial performance of a business and the role of professional ethics in ensuring accurate reporting.