Question

The Accounting profession: Gloria is an audit associate of Gor and Brad, CPAs. In one of...

The Accounting profession: Gloria is an audit associate of Gor and Brad, CPAs. In one of the meetings with audit clients, a non-accounting staff remarked that "accounting is back-office work. It is merely bookkeeping. It is not a profession." Requirement: You are Gloria, and you are to prepare a reply explaining why accounting is a profession.

Homework Answers

Answer #1

The definition of profession is "A paid occupation, especially one that involves prolonged training and a formal qualification". If a person wants to be an accountant, he/she needs to go through rigorous education/ practical training and most importantly pass the professional exams. It does fit into the definition. An accountant is a professional who performs accounting functions such as audits or financial statement analysis. Accountants are given certifications by national professional associations after meeting state-specific requirements, although non-qualified persons can still work under other accountants. Accountants have bachelor’s degrees and may need to get a certificate, which can take up to a year to obtain depending on the type of certification being pursued and the state in which those requirements must be met. And this is the reason why accounting is a profession.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
One area of concern for the accounting profession for the past 20 years has been the...
One area of concern for the accounting profession for the past 20 years has been the proliferation of alternative practice structures. Potential problems exist because the audit side of the business may be influenced by the public entity that controls it. One such situation involves K&B, CPA Associates, and Cryden Business and Tax Services. Billy Kamen, CPA, has been a partner of K&B for more than 30 years. He thought he had seen it all in the accounting profession. The...
You are a new staff associate on an engagement team that is auditing one of your...
You are a new staff associate on an engagement team that is auditing one of your accounting firm’s biggest clients. You overhear your audit manager making lunch plans with the client’s internal audit director to discuss a job opportunity within the company’s internal audit group. Describe what you would do in this scenario and why. Where would you look for guidance on how to handle this scenario?
The audit of KBC Solutions by Carlson and Smith, CPAs, was scheduled to end on February...
The audit of KBC Solutions by Carlson and Smith, CPAs, was scheduled to end on February 28, 2016. However, Rick Carlson was uncertain whether it could happen. As the review partner, he had just completed going over the work paper files of the senior auditor in charge of the engagement, Grace Sloan, and had way too many questions to wrap things up by the end of the week. Rick called Grace into his office and asked her about some questionable...
1) Each of the following situations involves a possible violation of the rule on independence. For...
1) Each of the following situations involves a possible violation of the rule on independence. For each situation, (1) decide whether the Code of Professional Conduct has been violated, and (2) briefly explain how the situation violates (or does not violate) the Code of Professional Conduct. (a) Harry Brown is a partner in the Topeka office of Hedley & Co., CPAs. Harry's brother is employed in an audit-sensitive position by Jensen Appliances, a publicly held company in Kansas. Jensen Appliances...
The Sarbanes-Oxley Act of 2002 a) Requires the Public Company Accounting Oversight Board (PCAOB) be composed...
The Sarbanes-Oxley Act of 2002 a) Requires the Public Company Accounting Oversight Board (PCAOB) be composed of seven members. b) Requires the Public Company Accounting Oversight Board (PCAOB) have CPAs for a majority of its members. c) Changes rules on auditor independence, adopting a more flexible, principles-based approach rather than one based on prohibitions of certain types of non-audit services to audit clients d) Mandates integrated audits for public companies                                                               Which of the following statements would be least...
#1 Mo has been assigned to the audit of Aurora Landscaping Co. Ltd, a new client....
#1 Mo has been assigned to the audit of Aurora Landscaping Co. Ltd, a new client. His job is to meet each one of the department managers in payroll, accounts receivable and payable. Mo must determine and document how each one of these systems of internal controls work. He has been given an audit program for each one of these cycles. When he arrived at Aurora this morning, the first thing he did was review the planning section of the...
Background You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting...
Background You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting firm with offices throughout the major regional centres of NSW and Queensland. Although a medium sized firm by national standards, MYH is the second largest regional accounting firm in Australia. Most of MYH’s audit clients are in the agriculture, mining, manufacturing and property industries. All of those industries are currently under pressure, either from a downturn in commodity prices or fierce competition from overseas...
You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting firm...
You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting firm with offices throughout the major regional centres of NSW and Queensland. Although a medium sized firm by national standards, MYH is the second largest regional accounting firm in Australia. Most of MYH’s audit clients are in the agriculture, mining, manufacturing and property industries. All of those industries are currently under pressure, either from a downturn in commodity prices or fierce competition from overseas competitors....
Task In your accounting career you will be required to analyse current accounting issues and communicate...
Task In your accounting career you will be required to analyse current accounting issues and communicate your theoretical understanding to your professional colleagues and your clients. For this assignment assume that you are the senior accountant working for a major firm. Question 1 - 9 marks (1,500 words) The CEO has forwarded to you an interesting article and requires you to provide her with a deeper theoretical understanding of the issues discussed so that she can fully engage in the...
Unhealthy Accounting at HealthSouth PROBLEM In 1996, key executives of HealthSouth, one of the nation’s largest...
Unhealthy Accounting at HealthSouth PROBLEM In 1996, key executives of HealthSouth, one of the nation’s largest providers of health care services, began a massive fraud that eventually amounted to $2.7 billion. HealthSouth is a textbook case of unbridled greed combined with a lack of corporate governance, which illustrates the difficult situation that auditors face when clients perpetrate a massive, collusive fraud. HealthSouth was founded in 1984 by Richard Scrushy and coworkers at Lifemark, a Houston-based company that owned and managed...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT