Is Accounting a Profession

Running Head: AP
0
Is Accounting a
Profession?
Reflective Essay
(Student Details: )
4/8/2020

AP 1
Contents
Reflective Essay.........................................................................................................................2
Introduction................................................................................................................................2
Is Accounting a Profession?.......................................................................................................2
Conclusion..................................................................................................................................4

AP 2
Introduction
This paper is focused to answer the key question “Is accounting a profession?”. In doing so,
the discussion is going to explain the importance of the topic as well as the relevance of
addressing this question. In order to address this question, my opinion is ‘Yes’. It is because
accounting is a significant profession and there are a lot of career paths in the accounting
field. I believe that accounting is a great profession to be pursued by an ambitious individual.
Accounting is a great career option and important too because an accountant is a professional
who is able to perform essential accounting functions like financial statement analysis or
audits. In my opinion, accountants can either be hired from an accounting firm or a big
company having an internal accounting department. However, accountants can also set up an
individual practice or firm for executing accounting functions from their own (McGuigan &
Kern, 2009). In this way, I am going to reflect on how accounting is a profession in this
competitive world. Deciding to be an accountant is not so much descriptive rather than
deciding to be an engineer, unlike accounting. In the end, I am going to summarise my
findings reiterating the below mentioned key arguments regarding how accounting is a
profession.
Is Accounting a Profession?
According to me, accounting is the measurement, communication, and processing of financial
as well as non-financial info related to economic entities like corporations and businesses
(Principles of Accounting.com, 2020). I consider accounting very important for businesses,
daily human life, and the country’s growth as well. It is because accounting plays an
important role while running any business to track expenditures and income (McGuigan &
Kern, 2009). Accounting is important because it is used to ensure statutory compliance while
providing quantitative financial information to the management, investors, and government. I
have seen that with the help of accounting business entities, investors and the government can
make important business decisions in a real-life context. Thus, the accounting profession is of
high importance for so many fields (IFRS, 2020).
To me, an accountant is a person who is a practitioner of accountancy or accounting. In this
context, accountancy is the measurement, or provision of assurance in relation to financial
data or information which is helpful and essential to managers, tax authorities, investors, and