Here, ethics means the study of morality’s effect on conduct.
Accountant is the key personnel who access the financial information of individuals and entities.
Accountant and authorized signature on cheques person have maximum power to excess on financial information.
This power has possibilities for abuse manipulation of financial data.
This manipulation may be personal or to enhance company perceptions.
Ethics is also required in auditing.
Without auditing and accounting ethics, an audit must instantly be paused.
Ethics can be explained as:
Ethics and ethical behavior are honesty, integrity and morals for one’s job or service.
However, the code of professional conduct is a specific set of rules set by the governing bodies of chartered accountants.
Although the rules set out by different bodies around the world yet some rules are universal.
The professional accounting bodies in North America set one key rule i.e. idea of independence.
The idea is that as an auditor, you must be totally independent while auditing; you must be without ties to relationships with the client.
Otherwise, it could potentially impair your judgment and impair the overall audit work.
Each member of accounting or auditing work has a responsibility to mitigate actual conflict of interest.
They should abstain from engaging in or supporting any activity that might discredit the profession.
Each member of accounting or auditing work has a responsibility to communicate information fairly and objectively.
They should disclose of relevant information that could be expected to influence and intended.
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Click on link for YouTube videos topic wise : |
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Accounting Equation |
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Basic Journal Entries in Nepali |
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Basic Journal Entries |
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Journal Entry and Ledger |
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Ledger Account |
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Subsidiary Book |
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Cash Book |
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Trial Balance and Adjusted Trial Balance |
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Bank Reconciliation Statement (BRS) |
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Depreciation |
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Click on link for YouTube videos chapter wise: |
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Financial Accounting and Analysis (All videos) |
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Accounting Process |
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Accounting for Long Lived Assets |
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Analysis of Financial Statement |
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