Report On Accountant Professional's Guidelines For Code & Ethical Practices

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Added on 2020-02-03

Report On Accountant Professional's Guidelines For Code & Ethical Practices

Added on 2020-02-03

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Work place learning

Report On Accountant Professional's Guidelines For Code & Ethical Practices_1

TABLE OF CONTENTSEXECUTIVE SUMMARY.............................................................................................................1INTRODUCTION...........................................................................................................................2BODY OF THE REPORT...............................................................................................................2The professional body ...........................................................................................................2Person in the profession..........................................................................................................4Reflections on similarities and differences in expectations...................................................5Reflection on considering professional bodies.......................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8APPENDIX....................................................................................................................................11

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EXECUTIVE SUMMARYThe report has focused on the accountant professional bodies that has provided guidelinesfor code and ethical practices to the accountant manager. From this, the accounting code ofpractices has helped to the individuals about understanding the guidelines of the company sothey can work properly without any dilemmas. Along with this, individual has understood theissues which has arisen when they have prepared the financial report. After this, this report hasalso elaborated the legal ramifications if the individual breach the code of the company. Thus,the employee has made them aware about the code of practices which has followed in theworkplace effectively.1

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INTRODUCTIONWork place learning is the acquisition of knowledge and skills that individuals obtain whileperforming at their respective workplaces (Wingard and et.al., 2015). The current report hasfocuses on accounting as one of the professional body where the occupation of accounts managerhas been taken into a valid consideration. The accounting bodies establish the code of practiceand policies for account professionals as a means of safeguarding the funds invested by theshareholders. This report has also depicted the area of work for account managers such asmanaging the multiple accounts, generating sales from business portfolio and establishingbudgets with the clients and companies, etc. so that they can meet the objective of theorganisation (Choy, Kemmis and Green, 2016). The managers also facilitate in fund and capitalmanagement. The manager is hereby responsible for finding faults in the system and improvesthe defective procedures by taking corrective actions in order to amend the sales volume of thecompany. They also establish financial status by developing and implementing systems ofanalyses and correcting the fiscal statements. Furthermore, they also understand the progress ofthe company from their sales report. From this, they can understand the deals the business issuesfrom their existing client (Rule, Dunston and Solomon, 2016).BODY OF THE REPORTThe professional body Accounting is used to measure the financial statement of the business in order to conveythe information to their stakeholders (Barker, Quennerstedt and Annerstedt, 2015). For publicinterest, professional bodies should comply with the ethics and code of practices. These ethicalguidelines are as follows:Objectivity: Professional accountant do not allow the bias and conflict of interest of the public sothey can retain their customers and grow them by designing the portfolio. Under this, theindividual understand the objective and offer same interest without any discrimination such asrich, political person etc. (Messman and Mulder, 2015).Professional competence and care: The accountant has duty to maintain knowledge and skills atrequired level so they ensure that the employers receive competent professional service. Theseservices are based on the current practices, legislation and techniques which are defined by thefinancial organisation. They deliver their service with diligence in accordance with the2

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Report On Accountant Professional's Guidelines For Code & Ethical Practices