Why should Principles of Accounting be taken by all business majors, rather than by only Accountants...

Why should Principles of Accounting be taken by all business majors, rather than by only Accountants or Finance specialists? (1500-2500 words)

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Answer:

Priciples requires accounting professionals to comply with the laws and regulation that govern theri juridiction and their bodies or work. Avoiding actions that could negatively affect the reputation of the profession is a reasonable commitment that business partners and other should expect.

The ethical delimmas that accountants sometimes face include conflict of interest, payroll confidentiality illegal or fraudulent activities, pressure from management to inflate earnings, and clients who request manipulation of financial statements. Explore whether the issue is regulated by law or policy.

The basic accounting principle is important because it reminds business owners not to confuse cost with value. Although the value of items and assets changes over time, the gain or loss of your assets is only reflected in their sale or in depreciation entries. Principles are important because they establish a consistency that allows for more accurate and efficient viewing of company statements and reports.

ekkarill92 answered 2 years ago

Write a 1 page paper discussing why business majors should study accounting.

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