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Essay- Accounting as a Profession

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Added on  2019-10-31

Essay- Accounting as a Profession

   Added on 2019-10-31

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Ethics and its contribution in developing greater trust among the public regardingaccounting profession1
Essay- Accounting as a Profession_1
Introduction This essay studies the modern perspective of the people regarding the accounting profession.It identifies major incidences that impacted or formulated the opinion of the people regardingthe accounting profession. Various statistical surveys are being demonstrate to illustrate thechanging trends or opinions if the people. The importance of ethical standards in practisingaccounting has also been taken into consideration. The essay studies the positive impact ofethical practices in the accounting profession to develop the level of trust of people in theprofession of accountant. 2
Essay- Accounting as a Profession_2
Ethical standardsAccording to oxford dictionary ethics is “a moral principle that governs a person’sbehaviour or the branch of knowledge that deals with moral principles” (Dictionary, 2007).It is basically a branch of study which deals with the issue of right and wrong. There arevarious branches of philosophical thinkers and their opinions regarding the topic of right andwrong. The various theories regarding the concept are the deontological theory,consequentialism or teleological theory and virtue ethics. Emanuel Kant is the chief propagator of the deontological theory. The deontologists’perception of ethics is that it is an act that is independent of all variable. According to themactions can be either good or bad, there cannot be a grey area. They also believe that what isethical is the duty of every individual and that duty shall be performed by the individualregardless of the situation or expectation of reward, self good or appreciation. There arevarious criticisms to this theory. The criticisms involve the fact that there is no guidance orparticular description of the actions that are intrinsically good (Alexander & Moore 2007).Some critics also state that there is a difference between good and right which has not beentaken into consideration but the deontologists. Consequentialism is another such theory that discusses ethics. The chief propagators ofconsequentialism are J S Mill, Harry Sidwick, GE Moore, and Jeremy Bentham. Theconsequentialists opine that the result of an action is the factor that decides the right andwrong of an action. According to them if an action causes pain as a result then it shall beconsidered as ethically wrong and if an action created pleasure then the action may beconsidered as an ethically right action. They also propagate the idea of utilitarianism that theaction that creates pleasure to larger number of people shall be considered as a strongerethical action in comparison to an action that pleases an individual or group. There are3
Essay- Accounting as a Profession_3

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