Accounting Assignment Week 1

13. Is a professional control a businessperson pursuing profit or a fiduciary that is to act in the public interest? I believe that a professional restrainer is a fiduciary that is to act in the public interest preferably of a businessperson pursuing profit. Accountants have schooled for many years and ar licensed through the State. As a professional accountant there are many rules and regulations that moldiness be understood and followed.Professional accountants are virtuously and ethically required to work in the best interest of the public. If an accountant is professional and ethical, he or she would not falsify financial statements or tax returns to allow for higher profits for the accountants employer, customer, or even themselves. Accountants must understand that proving to be an ethical, professional accountant with great morals provide actually prove to be profitable.The accountants reputation plays a big role in the corporations reputation. 14. Why is it authorised for a professional accountant to understand the ethical trends discussed in this chapter? It is central for a professional accountant to understand the ethic trends because we need to bonk the expectancys of the public. After Enron and other banking issues caused some major changes in the new expectation in the business world.The ethics trends have slowly been ever-changing solely after what happened with set everything in place to set higher standards for the ethics. The accountant must understand the consequences of cutting corners and acting unethically. Times are changing and with the increased risk of errors causing problems for the company and its employees there is a large concern for accountants to understand the ethical trends.