Fill in order details

  • Submit your instructions
    to writers for free!
  • Start receiving proposals from writers

Order bidding

  • Chat with preferred expert writers
  • Request a preview of your paper
    from them for free

Choose writer & reserve money

  • Hire the most suitable writer to
    complete your order
  • Reserve money for paying

Work process

  • View the progress
  • Give suggestions
  • Pay only for approved parts
Posted on by wp

ETHICAL STANDARDS IN ACCOUNTING AND REDUCING BUSINESS LIABILITY

Ethical standards in accounting assist a business in reducing business liability. Furthermore, accounting involves accessing the financial information of an entity or an individual. However, it contains the potential and possibilities for abuse of information and manipulation of numbers to enforce earnings management and enhance company perceptions. Additionally, accounting ethics involves following specific guidelines, and rules to prevent misuse of financial information or management position. Contrarily, liability claims are setbacks to a business that threaten the success of a business. A business should have good insurance protection in place to cater for a range of potential liability risks.

THE ADVANTAGES OF ETHICAL STANDARDS IN ACCOUNTING

Ethical standards in accounting prevent the misuse of information of a client by an accountant or auditor. Moreover, accounting ethics involves the setting of guidelines and rules that accountants should follow. Consequently, these rules create fear in the minds of accountants ensuring that they conduct their duties responsibly to prevent financial setbacks to a business. Additionally, a business that pays attention to accounting ethics performs better than other businesses. It builds a good image for the company to the customers and other parties. Furthermore, accounting ethics assists in reducing business liability by ensuring that a business is liable for any legal actions.

Read more on the advantages of ethical standards in accounting at;

STRATEGIES FOR LIMITING AND REDUCING BUSINESS LIABILITY

Fundamentally, structuring a business properly helps in reducing business liability. This may involve seeking guidance from a business lawyer to determine the appropriate structure for a business. Moreover, it is important to purchase insurance to limit its exposure and limit other setbacks to a business. Furthermore, the business should identify risks and implement procedures to minimize them in advance. A business requires ethical standards in accounting to ensure it is liable for any legal actions.

Read more on the strategies for limiting and reducing business liability at;

Additional attachments

>> Download

Post Views: 211

What our customers say
_____

Laurence HLaurence H
After I ordered a dissertation from your writing service, the first paper that I was given did not met my professor’s demand. I set the paper on revision and the writer made the revision for free meeting all my requirements and I was very satisfied.
James USAJames USA
“After I ordered a dissertation from your writing service, the first paper that I was given did not met my professor’s demand. I set the paper on revision and the writer made the revision for free meeting all my requirements and I was very satisfied.
David UKDavid UK
I was shocked by how your writers managed to deliver my paper on time, and I was among the best in our class in that paper. Thank you so much and I will never hesitate to use you
prevnext
×