The Reflection Of The Importance Of Accounting
The accounting profession is pivotal and fundamental to human livelihood. Undoubtedly, businesses provide employment and, thus, livelihood to people all over the globe. Consequently, accounting becomes an integral part of every business, and its significance cannot be underestimated. Typically, business owners make decisions upon receiving audited reports prepared by professionals conversant with accounting. Personally, I have witnessed enormous benefits of accounting both in business and even in government entities. Vividly, every government has to comprehend its income, debt and inflation rate, all of which are determined by utilizing accounting concepts and skills. For that reason, this reflection paper aims at highlighting the importance of accounting as a profession, reasons for choosing it, as well as speculating its future, especially as my career.
Beside provision of the much-needed outlook of a business, accounting is imperative in boosting a firm’s image through the disclosure of corporate social responsibility (CSR). Jones and Jonas (2011) revealed that many companies realize the importance of disclosing the amount spent on CSR activities in a bid to boost public relations. However, for this to happen, the accounting firms garner contracts to aid firms with the requirement. Though it is not …show more content…
Since 2008, the accounting fraternity has been working relentlessly to impart the graduating students with the necessary skills (The Future of the Accounting Profession, 2014). Because many students are also committed to hone their skills, competence will be evident. For instance, though I hold a degree in accounting, I am currently seeking an additional one, a master degree. This insatiable hunger for better skills by others and myself will culminate in better employment, hence contributing to the accounting