Virtues / Importance in Accounting

Accounting
Tutor: None Selected Time limit: 1 Day

Please explain why virtues are important for accounting practice.  Please use examples.

Jun 17th, 2015

Thank you for the opportunity to help you with your question!

virtues such as honesty are important in that they attract customers. The value of honesty in business has obvious and subtle implications. Asking who benefits from business honesty can explain why virtue is also important. Examining the negative effects of dishonest business practices provides insight into the importance of honesty. In fact, it is as helpful as looking at the benefits of business honesty. Doing what is ethical because it is the right thing to do is as essential as practicing ethical behavior for the positive consequences.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 17th, 2015

How does it relate more to accounting? I understand your talking about the business standpoint.

Jun 17th, 2015

Honesty in accounting allow investors to trust the information they receive about companies in which they invest. Business managers rely on honest accounting to run their companies without fear of biased reporting. Honesty in accounting is the primary characteristic of the profession that allows financial decision -makers to make appropriate judgments.

Jun 17th, 2015

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Jun 17th, 2015
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