Question

People tend to think of accountants as “bean counters”, but this is far from the truth. My textbook even goes so far as to say that “accountants are instrumental in helping to create a prosperous society” (Miller-Nobles, Mattison & Matsumura, 2016, p.2). Please explain and support how this statement is true.

Answer 1

Bean counting” has long been an insulting term for what finance professionals and accountants do. Often it's been used to tar CFOs as transaction processors — a role largely relegated to the back office

Accounting groups are reacting to the latest reports about the accelerated pace of climate change as global warming reaches record levels.

Against the backdrop of the United Nations’ 25th annual Conference of the Parties, or COP25, in Madrid, the International Federation of Accountants published a Point of View on climate action to highlight the role of the global accounting profession in addressing what many experts are calling a “climate emergency.”

“Ignoring the impact of climate change is not an option – nor is business as usual,” said IFAC CEO Kevin Dancey in a statement Tuesday. “As instrumental members or advisers of every government, business, and not-for-profit organization, professional accountants must influence and enable the transition to a low-carbon society.”