1.

Accounting is the process of identifying, measuring, and communicating financial information about an
entity to enable users of the information to evaluate and make decisions. From there, link decision-makers
to economic activities and the outcomes of their decisions. In society, many subjects need to use
information provided by accountants. There are two types of users of accounting information: Internal
Users and External Users

For those who are managing their daily business, special techniques have been developed. This is called
internal reporting or management accounting.

The conceptual framework is especially important when methods are being developed for reporting to
people who are not part of the day-to-day operations of the business. This is called external reporting or
financial accounting.

3. Accounting is a vast field and is divided into many categories. But here we will analyze three main
types of accounting, including management accounting, financial accounting, and tax accounting.

The first is management accounting. This is a specialized area of accounting to grasp the real issues,
especially the financial status of the business. Their duties include recording and processing numbers,
helping with the selection and management of a company's investments, risk management, budgeting,
planning, strategy, and decision making.

Next is the Financial Accountant who is responsible for running the accounting and financial activities of
an organization. They analyze the economic stability of the company and provide financial information to
other departments, allowing them to make budgeting and investment decisions. Financial accounting
reflects the current situation and fluctuations in capital and assets of an enterprise in a general form or
reflects the physical and cash flows in the relationship between the enterprise and the external economic
environment.

Last but not least is Tax accountant - in charge of tax declaration issues in the business. The state can only
manage the multi-sector economy when there is tax accounting. On the contrary, enterprises can only do
stable business and favorable tax reports when making clear tax issues. Like its name, tax accountants
have a direct role and influence on tax issues, including Resolving with stakeholders on collection issues,
preparing tax records, submitting returns, then preparing presentations and reports. The role of a tax
accountant includes Preparing monthly, quarterly tax reports and paying taxes for the company. Prepare
financial statements, year-end tax reports, corporate income tax, and personal income tax reports.

5. Like many other professions, accounting is a noble profession as well as a profession with ethical
standards that accountants are required to follow. However, there are not a few financial and accounting
scandals in history. Typically, the scandal that led to the process from the Big Five to the Big Four as well
as the decline of Arthur Andersen associated with the Enron scandal.

ARTHUR ANDERSEN was once one of the most influential Big 5 in the world. But by 2002, the
collusion between A&A and Enron - one of the largest energy companies in the US-led to the destruction
of these two large companies. Arthur Andersen audit and consulting firm to make false reports to deceive
shareholders. To hide the fact that the company had borrowed too much to pay, Enron leaders took
advantage of a legal loophole to set up subsidiaries without declaring their finances. In this way, Enron
both did not have to disclose its debts and conceal the losses. As a result, Enron inflated her profits and
her stock price skyrocketed accordingly. In addition to errors such as the failure to detect irregularities in
Enron's accounting records, which helped Enron become famous in the market while being at a heavy
loss, Andersen was charged with a serious criminal offense of intentionally obstructing Enron.
investigative work through the destruction of thousands of documents related to Enron.

From the above story, we can draw that accountants must adhere to the following basic ethical principles:

Integrity: Be forthright and honest in all professional and business relationships;

Objectivity: Not allowing bias, conflict of interest, or any unreasonable influence to govern our
professional and business judgments;

Expertise and discretion: Demonstrate and maintain the professional knowledge and skills necessary to
ensure that a client or business owner is provided with quality professional service based on up-to-date
professional, legal, and technical knowledge, and act with caution and by applicable professional and
technical standards;

Confidentiality: Information obtained from professional and business relationships must be kept
confidential, therefore, no information may be disclosed to third parties without the prior consent of the
relevant party. authority, except where there is a right or obligation to provide information as required by
law or a regulatory or professional body, and also not to use the information for the personal benefit of
the accountant. , professional or third-party auditors;

Professional Conduct: Must comply with relevant laws and regulations, and avoid any actions that may
damage one's professional reputation.