Ethics Acounting and Finance Essay Example | Topics and Well Written Essays - 1250 words

Ethics Acounting and Finance - Essay ExampleAs the report declares in concrete ground accounting measures profit and resources, telling how much is the assets, liabilities and capital of a business organization, which are a combining of the interest of the owners and creditors. An income statement tells the results of operation of a business for a given period say a month, or a year, while a balance sheet show the financial condition of a business organization as of a given time say year 1995 or 2000. This melodic theme stresses that from their definitions, we can easily discern that in that respect is a difference between the two. A finance music director who heads a department where accounting is a cleavage would exert an influence to have accounting division help finance department in the attainment of the objective of the latter that is the maximization of stockholders wealth. What do you believe is the result? Finance allow for have a biased report because, the Finance ma nager will just say to the accounting head, you must practice creative accounting for us to look wide-cut to our stockholders. The head of the accounting office will respond in submission to the head of the finance department, his boss. In an organization ideals, are ideals but human nature would rear its ugly head if one figure out could abuse another functional area. Accounting is better combined with a management information dust because they both serve the same purpose that is to provide accurate and reliable information for decision-making and in addition, there must be ethics as to practice of the two functional areas.