Work place learning is the acquisition of knowledge and skills that individuals obtain while performing at their respective workplaces (Wingard and et.al., 2015). The current report has focuses on accounting as one of the professional body where the occupation of accounts manager has been taken into a valid consideration. The accounting bodies establish the code of practice and policies for account professionals as a means of safeguarding the funds invested by the shareholders. This report has also depicted the area of work for account managers such as managing the multiple accounts, generating sales from business portfolio and establishing budgets with the clients and companies, etc. so that they can meet the objective of the organisation (Choy, Kemmis and Green, 2016). The managers also facilitate in fund and capital management. The manager is hereby responsible for finding faults in the system and improves the defective procedures by taking corrective actions in order to amend the sales volume of the company. They also establish financial status by developing and implementing systems of analyses and correcting the fiscal statements. Furthermore, they also understand the progress of the company from their sales report. From this, they can understand the deals the business issues from their existing client (Rule, Dunston and Solomon, 2016).
BODY OF THE REPORT
The professional body
Accounting is used to measure the financial statement of the business in order to convey the information to their stakeholders (Barker, Quennerstedt and Annerstedt, 2015). For public interest, professional bodies should comply with the ethics and code of practices. These ethical guidelines are as follows:
Objectivity: Professional accountant do not allow the bias and conflict of interest of the public so they can retain their customers and grow them by designing the portfolio. Under this, the individual understand the objective and offer same interest without any discrimination such as rich, political person etc. (Messman and Mulder, 2015).
Professional competence and care: The accountant has duty to maintain knowledge and skills at required level so they ensure that the employers receive competent professional service. These services are based on the current practices, legislation and techniques which are defined by the financial organisation. They deliver their service with diligence in accordance with the applicable legislation practices and techniques (Müller and et.al., 2015). The organisation guide about the practices, legislation of their work so employees are bound to deliver the quality service to the customers.
Confidentiality: Accountant manager also maintain the confidentiality of information that increases the customer satisfaction. They do not disclose any such personal information to the third party or personal use without authority. Every individual in the organisation should follow the rules and regulation so they can maintain the data integrity of customer (Hum, 2015).
Professional behaviour: Under this, the manger complies with relevant laws and regulation so that they render service effectively to the clients.
Issues arise for the professional body:
- Stress and pressure on accounts department is to generate the balance sheets and financial statements for managerial bodies. The ethical issue for the professional body is to present the true report of company assets, liability and profit without any manipulation (Blake and Gartshore, 2016).
- An accountant body may face the ethical dilemma due to accounting violation in the report which an accountant send it to the FASB (financial accounting standards board). The accountant has duty to report such violation to the FASB while arising any issues in the financial statement (Hale, Borys and Adams, 2015).
- Sometime accountant omit or leave certain financial figures from the balance sheet that may give negative image to the public and investors. It is a breach of accounting ethics because it manipulates the fiscal data.
The ways for communication to its member:
Meting and conference:The professional body communicate their members about the issues by organising the meetings and conference on weekly basis. The members can discuss and suggest about the new code of practices which the unit implement in their workplace (Flåten, Isaksen and Karlsen, 2015).
E-mail: The official unit of accounting communicate the problems via E-mail. It enables to convey the information of present code of practice which is followed by accounting body (Bingham and Conner, 2015).
Legal ramifications if the code is breach
- If accounting unit altered the financial records then the company will show a negative image to their members.
- The accounting scandal could cause the company's revenue and may lead the turnover rate of the employee.
- The breach of code in the accounting department can cause head of the department and leading to heavy fines and prison.
Yes, the accountant have to educate about the changes adopted by the company for their ethical code and practices. From proper training and education, the accountant get the knowledge of ethics that help them to overcome the ethical dilemmas (Holmes and Stubbe, 2015).
Person in the profession
According to the report, individuals in the accounting unit have to understand the ethics in code of practice and policies for making record of financial statement. By focusing on an; accountant department, the financial manger implement the GAAP (generally accepted accounting principle) standard framework that provide guidelines of the code of practices in accounting. Thus, the accountant can follow rules and legal practices in recording and preparing of financial statements.
- The accountant officer knows that the company's function violates the code of practices of the business then they suggest for the activity is to be taken or not in the workplace (Livingstone, 2015).
- The code of practice influences the behaviour of individuals from inadequate knowledge of the laws and regulation. This also limit the work ability of the employee.
- During training, the employee are required to read the code of practice of the company and give them instruction to access it as per the mentioned guidelines and it is more likely to influence the behaviour of them.
- If the company is not taken any action against violence of the co-worker then the employee not feel obligation to follow the code of conduct (Baldwin, 2016).
Consequence on the career of individuals if they breach the company code
Termination: If The employee shares confidential information of the company to the competitor then organisation has right to terminate the culprit worker even if they have employment contract. Additionally, when employees perform any type of fraud, then it will negatively affect the perception of management. In such situation, there are chances that current organization terminate the workers for their false activity (Marsick and Watkins, 2015).
Reputation: From the breach of code, any of the company will not hire the employee who have criminal record on past. This can affect the professional opportunity of the person on their entire life.
Licence: Accountants are provided with licence through which they are allowed to make their practices within the organization and if they do not perform their activities effectively, then the licence which is given to be ceased. This can be ceased for long time period because of wrong code of practice.
Penalty: The company lay out the policies and procedure in code of conduct so the employee work in discipline manner otherwise they were charge penalty for their wrong practices (Jackson, 2015).
Reflections on similarities and differences in expectations
Ethics is not just morality towards work, it gives dimension of personal and corporate life so that the individuals can lead to the higher performance at business. Employees of the company follow high level of ethics and code of practices in their own job so that it gives the positive impact on the management (Gerken, Beausaert and Segers, 2016). The knowledge of company ethics helps workforce s to adopt the right things on work environment. They present the true records of financial statement to the company and recognise the issues that represent the individual image to the business. By evaluating consequence of themself, they are obliged to the work with ethically towards their work. Thus, the company provides education to employees on the ethical decision that promote the overall ethical climate so that all staff are able to recognize ethical dilemmas in the organization. The policies and procedure empower the team members to communicate to the seniors within the firm if have any issues of independence that also affect the performance of the employee. The individuals access their own practices and undertaking activities to improve practices (Truxillo, Cadiz and Hammer, 2015.). However, personal ethical principles were conflict with the organisation policy because the individuals has own value system which is not similar to the organisation norms. The moral also relate to the values and beliefs of the workforce, if they differ from the company culture it affects the employee performance. Increasing market complexity can lead the company to adopt the new technology in the workforce for better outcome. For this, the individual not accept the changes and disagree to adopt as per their moral values and ethics. Along with this, if the company does not make provision for discrimination because of the physical or mental disability then it reduces the moral value of the employee. In this context, the employee feel disrespect and vital that affect the effectiveness of the company and workforce too (Byrne and et.al., 2016).
Reflection on considering professional bodies
Ethics is not just morality towards work, it gives dimension of personal and corporate life; so that the individuals can lead to the higher performance at business. Employees of the company follow high level of ethics and code of practices in their own job so that it gives the positive impact on the management (Gerken, Beausaert and Segers, 2016). The knowledge of company ethics helps workforce s to adopt the right things on work environment. They present the true records of financial statement to the company and recognise the issues that represent the individual image to the business. By evaluating consequence of themself, they are obliged to the work with ethically towards their work. Thus, the company provides education to employees on the ethical decision that promote the overall ethical climate so that all staff are able to recognize ethical dilemmas in the organization. The policies and procedure empower the team members to communicate to the seniors within the firm if have any issues of independence that also affect the performance of the employee. The individuals access their own practices and undertaking activities to improve practices (Truxillo, Cadiz and Hammer, 2015.). However, personal ethical principles were conflict with the organisation policy because the individuals has own value system which is not similar to the organisation norms. The moral also relate to the values and beliefs of the workforce, if they differ from the company culture it affects the employee performance. Increasing market complexity can lead the company to adopt the new technology in the workforce for better outcome. For this, the individual not accept the changes and disagree to adopt as per their moral values and ethics. Along with this, if the company does not make provision for discrimination because of the physical or mental disability then it reduces the moral value of the employee. In this context, the employee feel disrespect and vital that affect the effectiveness of the company and workforce too (Byrne and et.al., 2016).
Reflection on considering professional bodies
I want to join accountant body as an accountant which reflect on my work in the workplace. I follow high level of ethics and code of practices in my job so that it gives the positive impact on the management. I explore the standard ethical principle that I have learned from my background, family, religious and work. After understanding the ethics, I applied it to my work life which affects my career goals. Sometimes ethical decision is complicated in certain situation of the company and it requires rational decision making approach in order to obtain the statistical data for right judgement. My own objective is to work under ethical framework so that I can achieve my career goal. From this, I respect the other colleagues who give me information on the fact basis as per ethical consideration I am not manipulating of these results. I strive to tell complete truth when situations are relevant to those employees who are doing unethical practices. I also maintain the confidentiality when I have committed to do so. Furthermore, I am not disobeying with the rules and regulations of the organisation setting when faced unfair practices by the other employee. Other than this, I commit the violent towards others because they damage the company image. As per my ethical perspective, I will not work for the company if they produce the services which are likely to be unethical for me.
Actions that ensure the professional and ethical
Training programs: I will more focus to attain the training program so that I can update myself about the new policies of the company's workplace. From such initiation, I must find out facts that must cultivate and adhere me for effectively follow the ethical code of the workplace.
Courage and integrity: The courage to act ethically and professionally in the workplace with integrity. They impel me to do the right without concern personal consequences, even it is not easy to implement in the workplace.
Role model: Work with ethical manner, I will choose my senior as role model who work in right manner and their success emulate me to do my job in an ethical. From this, I can compare myself and occupy the role which aspire me for goal.
Justice and fair guidance: If the co-worker practised unethical behaviour in the workplace then, I will raise my voice and tell truth to the management about the wrong practices of the co-workers.
The report has been concluded the professional body which follows ethics and code of practices in the workplace. These practices guide the individuals to perform under rules and regulation on the render quality services to their clients. The report has also focused on the ethical dilemmas in the accounting body that comes due to accounting violent practices that is done by the accountant into the report. There are some issues arise in the professional body that affect the value and image of the business. Along with this, consequences on the individuals career if they breach the code of practice to the company. Furthermore, it has been reflected the similarities and differences of the ethics and code of practices that impact on the individual's working at the workplace.
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