ACCT450-1203B-01 Business and Professional Ethics for Accountants Assignment Name: Unit 4 Individual Project Deliverable Length: 3–5 pages Details: Your CFO heard about the outstanding job you did on...

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ACCT450-1203B-01 Business and Professional Ethics for Accountants
Assignment Name: Unit 4 Individual Project
Deliverable Length: 3–5 pages
Details: Your CFO heard about the outstanding job you did on your meeting, and the accounting department personnel were boasting as to how important it is for accountants to be fully aware of corporate social responsibility (CSR) and what they can do to ascertain that the company is in full compliance and being part of the ethical system of corporate America.
Based on these comments from the employees, the CFO would like you to prepare a report that discusses the following:
• Explain the history of corporate accounting responsibility.
• Discuss how you think that CSR has influenced social accounting.
• Include your analysis of the potential business benefits of CSR for the company.
• Read and cite at least 3 articles from the popular business and accounting press relating to CSR and discussing current events as they relate to professional ethics for accountants.
The following grading criteria will apply to this assignment:
Grading Criteria
25% Explain the history of corporate accounting responsibility.
25% How do you think CSR has influenced social accounting?
25% Include your analysis of the potential business benefits of CSR for the company.
25% Read and cite at least 3 articles from the popular business and accounting press relating to CSR and discussing current events as they relate to professional ethics for accountants.
Objective: • Develop critical skills by analyzing ethical and legal issues and problems, recognizing and assessing such issues and recommending specific actions to implement your analyses
• Improve oral and written communication skills through class discussions, cases analyses, formal and informal presentations, and group and written assignments
• Enhance learning competencies by reading articles from the popular business and accounting press and discussing current events as they relate to professional ethics for accountants
Answered Same DayDec 20, 2021

Answer To: ACCT450-1203B-01 Business and Professional Ethics for Accountants Assignment Name: Unit 4 Individual...

Robert answered on Dec 20 2021
128 Votes
· Explain the history of corporate accounting responsibility.
Answer: Accountants play a vital role in contributing the surrounding corporate social responsibilit
y. The accounting input given to the financial accounting has lots impact on the financial statement. We may define accounting as a process provides business to track its financial activities by noting its debit transactions and credit transactions with a balancing figure. In case of accounting we got to follow set of principles and regulations, which helps in drafting the financial statement. Once we follow the correct method of accounting practices, we get a true and fair view about the accounting of the organization. It has been observed that areas like income reporting, documents falsification, permitting deductions which are questionable, illegal tax evasion etc.
Importance Of Financial Statements:
The reporting of financial statement should be ethical in nature and should also be fair, honest and reliable. The fraudulent activity in financial statement can be done in three ways. They are many ways generally through fraud can be committed. Five of them are discussed below:
Fictitious Revenues:
These are the revenues which may be shown in the books, but actually there are no sales happened. There are methods which are adopted and journal entries are passed by debiting the receivable account and crediting the sales accounting. It is also possible that false sales are shown to the existing customers. As the dealing in verifying the transactions with big organization or governmental organization is difficult, the accountants do pass journal...
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