Report on authoritative sources in accounting Essay

Report on authoritative sources in accounting - Essay Example Report on authoritative sources in accounting This paper gives a report on a variety of influential accountancy sources. Among the four source genres, professional associations often stand out as the most credible and authoritative sources of information on accountancy (Katz, Graduate School of Business Website, 2013). This comes as a result of these associations offering membership to several professionals in the accounting field. In addition, these set professional and ethical standards required of all the individuals in the field of accountancy. Professional associations involve themselves in enlightening members through seminars, conferences and workshops. Moreover, many of these associations produce publications such as scholarly journals and periodicals. Therefore it becomes evident that even though all genres serve as credible sources of information on accounting, professional associations stand out more. Professional Association The American Institute of Certified Public Accountants (AICPA) is a professional association for Certified Public Accountants all over the world (Associations Unlimited). This renowned and accredited association stands out as an authoritative source of information on accounting due to various reasons. According to Associations Unlimited, the AICPA began in 1887. Having existed for such a long period of time makes the association credible, since a record of the association’s activity for all those years prove its authority above other associations whose life spun is shorter. Moreover, the AIPCA boasts of its large membership of certified accountants within the United States and other territories (Association Unlimited). This proves that AICPA hosts a very diverse group of associates. The diversity in the association enhances the authority and credibility of the association as a major player in the field of accountancy. The AICPA serves as a body that sets auditing and reporting standards in accountancy (Anton, Associations Unlimited). This task sees the body as a pace setter in accountancy (Katz, Graduate School of Business Website, 2013). In addition, Associations Unlimited lists AIPCA as the publisher of publications such as The CPA Letter and the Tax Adviser. All this evidence shows the credibility of AICPA as a major source of information in the field of accountancy. Standard Setting Board The Financial Accounting Standards Board (FASB) stands as an authority in accountancy. According to Investopedia (2013), the FASB is a board of seven members consisting of accounting professionals who set financial accounting and reporting standards. The FASB finds its history running back to 1973, the board’s founding year (Associations Unlimited). This long duration of existence accredits it as an authoritative source in accounting. Associations Unlimited also provides that the board sets accounting standards for the private sector especially businesses and non-profit organizations. This displays the board’s command on many businesses and or ganizations hence its authority. In addition, the board comprises great professionals in the accounting field (Associations Unlimited). This confirirms the credibility of the board members. According to the Bloomsberg Businessweek (2013), the chairperson of the FASB is Ms. Leslie F. Seidman. She is an acclaimed

Applied Workplace Practice Personal Statement Example | Topics and Well Written Essays - 2500 words

Applied Workplace Practice - Personal Statement Example The second part, on the other hand, will be dedicated to my three-week journal. In this light, each weekly journal shall narrate the critical happenings I have encountered and how my team and I were able to come up with sound solutions to solve them. Emphasis will also be placed on the essential insights I have gathered in relation to business management and people empowerment. Jim’s Cleaning is dedicated to â€Å"providing its Franchisees with the safest workplace practicable, taking into consideration state legislative requirements, information from current Australian Standards and industry best practice† (Jim’s Cleaning Group, 2012, p. 1). Safety, therefore, becomes the core value of Jim’s business operations. In this regard, the company has concretized this vision by developing strict guidelines on safety, as embodied in its health and safety policy that outlines safe work methods and procedures to protect not just the lives of the client being serviced, but more importantly of the employees working. It is in this mindset that the company also recognizes the need to ensure that its operations do not place the community at risk of injury, illness, or property damage, in order to also ensure the preservation of the surrounding environment (Jim’s Cleaning Group, 2012). Jim’s Cleaning believes that the realization of these goals rely heavily on the concerted efforts of its franchisors, franchisees, and employees. Thus, constant communication and coordination is being strictly implemented throughout the company. It is through this emphasis on the proper alignment and enforcement of operational health and safety (OHS) that the company was able to develop its standard procedures and processes. For one, Jim’s Cleaning ensures to render proper induction and training to its newcomers for them to understand their