Introduction to Challenges in Accounting

What you’ll learn to do: identify challenges in accounting

Several hands of different skintonesAccounting is not just math, it’s the language of business. As with any language, it can be interpreted in many ways. This means that it’s important to see it as more than just numbers on a page. But it also means that the information has to be created and used responsibly. For instance, if the bank asks you for financial statements before it loans you money, no matter what, you have to provide accurate, verifiable, and honest information. That’s the ethical thing to do even if you think the bank’s loan committee might not like what they see.

Ethics in accounting has evolved over the years along with the profession.

Let’s move ahead so that you can gain a more detailed understanding of ethics in accounting and the significant events that have shaped the modern accounting environment.