SIGNIFICANCE OF ACCOUNTING

SIGNIFICANCE OF ACCOUNTING PROFESSION


Accounting as a profession like any other profession plays a vital role in terms such as accountants guiding management, investors and other interested parties in efficient allocation of resources and optimum decision making. It is changing from information processor to consultant. The CPA Vision Statement states “CPAs are the trusted professionals who enable people and organizations to shape their future. Combining insight with integrity, CPAs deliver value…” (www.aicpa.org)
However, no occupational group can call themselves professionals unless there are rules and regulations for guidance and accumulation of power. Professionalism should be viewed in terms of determinist that is collectivism because professionalism is not autonomous or free willed.
According to Emmet, (1960) some of the characteristics that should be met before orderliness can be identified as professionals are:
· Systematic body of theory, to be rec...