Accounting Career Problem Free Essay Example, 2000 words

What is clear that when an accountant uses altered record the company involved might experience short-term prosperity, but the long term effects of such involvements might not be desirable, especially when such practices are discovered by the Securities and Exchange Commission discovers the fraud (Chorafas, 2008). Legal actions might be taken against the company and the accountant that was involved in the preparation of the balance sheets and financial statements. Another thing that can result in pressure to an accountant in their career is the fact that they are always expected to act as whistle blowers in organizations that they work for. Whenever accountant realizes that there are violations of accounting policies they are always expected to reports the same to the Financial Accounting Standards Board. This should take place regardless of whether some members of the management team are involved or not. The result of an accountant reporting the occurrence of accounting irregularities to Financial Accounting Standards Board might be devastating to a business organization. This means that such an action will not go well with the member of the management, especially those who were involved in such scandals (Kieso, Weygandt & Warfield, 2012). We will write a custom essay sample on Accounting Career Problem or any topic specifically for you Only $17.96 $11.86/pageorder now Sometimes accountants might find themselves having to fight the pressure of concealing such information by members of the management team who happened to be involved in the accounting irregularity scandal. Even those not involved in the accounting irregularities might pressure for the concealing of such practices with the fear that it might ruin the organization’s reputation. On the other hand there are ethical implications that an accountant can face in case they come across accounting irregularities and fail to report them to the Financial Accounting Standards Board. If in any case it is realized that an accountant is involved in such irregularity it is obvious that their reliability would be questionable henceforth. Involving yourself with accounting irregularities will not only affect your credibility but also the credibility of the accounting firm that work for. As a result a person might end up losing many other job opportunities that they could have had as a result of bad reputation associated with the involvement in accounting irregularities. It is not a surprise that they can even lose some of the contracts that they already had with other business organization in case the information about them being involved in accounting irregularities go viral (Needles, Powers & Crosson, 2011).