Preparing, audits, and accounting assessment spring to mind whenever I picture the accounting profession. Professional accountants frequently impart financial advice, especially regarding an organization’s financial status. Accounting also comprises preparing and submitting returns for various users, and accountants are required to keep current on tax legislation to deliver excellent assistance to their clients (Putra, 2019). Accountants invariably have a responsibility to act honestly and competently in their employment. Consequently, they must guarantee that the financial reports of its stakeholders comply with all statutory standards.
Political and economic conditions are two contextual aspects that may impact the accounting profession. Past study has revealed that owing to the significant role of religious, economic, and political factors on auditing and accounting procedures globalization, some countries have trouble harmonizing foreign accounting rules (Bebbington & Unerman, 2020). Moreover, a comparison of accounting principles around the globe reveals that some environmental factors significantly influence auditing and accounting tactics and procedures in a given country. The political atmosphere of a country may significantly influence accounting practices. The way a country is run will significantly influence financial reporting.
As an accountant, I anticipate interacting with internal and external stakeholders of the organization. As per Hilorme et al. (2019), Accountants are critical members of the management team, and as a result, they must routinely communicate with and engage with others. An accountant will need to collaborate with colleagues to supply essential financial records. At the same time, an accountant may evaluate and give financial figures to the team clearly and understandably. An accountant may interact with company clients, suppliers, government agencies, and other enterprises’ or organizations’ auditors.
As an accountant, my contribution to society consists of safeguarding the general welfare and preserving trust in the profession. Accounting is crucial because it controls and steers businesses, societies, and governments. An accountant must operate ethically while promoting the public’s most significant concerns. An accountant must adhere to the body’s laws and regulations, which forbid any conduct that might harm the profession’s reputation (Putra, 2019). Accountants have responsibilities to their bosses, employers, creditors, and external regulatory bodies. Others are pioneering new territory, like lobbying for environmental accounting. Accountants may, in any event, participate in the profession’s longstanding tradition of public responsibility.
My customers and staff want me to preserve trust and reliability by keeping documents discreet. Clients and colleagues rely on accountants to regularly give precise and simple financial documents. An accountant is often called upon to evaluate complex financial information and present it straightforwardly, and understandably so all colleagues and customers can make well-informed judgments (Hilorme et al., 2019). An accountant is often compelled to keep financial documents confidential and only disclose them with relevant clients or colleagues upon request.
Working as part of a team is among my characteristics as an accountant. As the course unit illustrated, accountants work in teams and engage with clients regularly. Another key characteristic is exceptional understanding, which requires decoding the language and explaining technical accounting concepts so that consumers can comprehend (Bebbington & Unerman, 2020). Another factor in evaluating is transparency, which needs an accountant’s understanding of the work at hand. Accounting needs a high degree of cooperation and consistency.
Compliance with work norms is one of the key challenges accountants encounter in their careers. When accountants are under pressure from their supervisors, they demonstrate conformity pressure, which leads to poor outputs and consequences. Accountants must also consider ethical and tax considerations. Because accounting is expressly founded on regulatory rules that are the government’s responsibility, the current legislation of a nation may substantially influence the accounting profession’s development (Hilorme et al., 2019). They must guarantee that corporations report their financial information clearly and consistently to avoid putting them in ethical or legal jeopardy.
Bebbington, J., & Unerman, J. (2020). Advancing research into accounting and the UN sustainable development goals. Accounting, Auditing & Accountability Journal.
Hilorme, T., Perevozova, I., Shpak, L., Mokhnenko, A., & Korovchuk, Y. (2019). Human capital cost accounting in the company management system. Academy of Accounting and Financial Studies Journal, 23, 1-6.
Putra, Y. M. (2019). Analysis of factors affecting the interests of SMEs using accounting applications. Journal of Economics and Business, 2(3), 818-826.