Accounting Core Values: A Focus on Stewardship and Integrity

This report delves into the core values of accounting, emphasizing the critical roles of stewardship and integrity. It examines how these values are essential for ethical financial practices and responsible resource management. Stewardship, encompassing responsible planning and resource management, is highlighted as vital for building a strong company and adhering to accounting regulations. Integrity is presented as a foundational value, crucial for fostering trust in financial information, especially for investors. The report further explores how these core values influence the identification, measurement, analysis, interpretation, and communication of financial data to managers. The discussion includes references to relevant literature, underscoring the importance of these values in the broader context of accounting and financial management.

Running Head: PRINCIPLE OF MANAGERIAL ACCOUNTING
PRINCIPLE OF MANAGERIAL ACCOUNTING
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Core Values are Integral to Accounting Profession...................................................................2
Reference....................................................................................................................................3

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Core Values are Integral to Accounting Profession
The core values of responsible integrity and stewardship are relevant to the
accounting. The code of ethics are fundamental principles, which professionals of accounting
chooses to abide by, for enhancing their profession. Core values protects the accountants’
interests in the public practice. These core values helps in defining the way accountant
conducts their activities and interacts with their clients and colleagues.
Stewardship and integrity are the two core values relevant to the accounting.
Stewardship is ethics, which embodies responsible planning as well as management of the
resources. It helps to build stronger company for future by protecting its resources. In
accounting profession, stewardship includes developing, implementing, following and
maintaining proper accounting and administrative procedures and also complying with the
relevant regulatory and accounting requirement. Further, integrity is the term used for
describing foundational value, which is engine behind getting the things done in organization.
In accounting, integrity plays important roles because it allows the investors for trusting
information, which they receives regarding the organization they invest (Bowser et al. 2017).
Hence, responsible stewardship is tied closely to integrity concept in financial
management. In the management of company, the responsible stewardship aims on properly
developing and utilizing the resources, which includes property, people and financial
resources. When managers are dealing with the money of other people, financial acumen is
not always central rather honesty and integrity also plays important role. Therefore, these two
core values have great importance in identification, measurement, analysis, interpretation and
communication of financial information to the managers (Homayoun, Rezaee & Ahmadi,
2015).

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Reference
Bowser, A., Shilton, K., Preece, J., & Warrick, E. (2017, February). Accounting for privacy
in citizen science: Ethical research in a context of openness. In Proceedings of the
2017 ACM Conference on Computer Supported Cooperative Work and Social
Computing (pp. 2124-2136).
Homayoun, S., Rezaee, Z., & Ahmadi, Z. (2015). Corporate social responsibility and its
relevance to accounting. Journal of Sustainable Development, 8(9), 178-189.