As an aspiring accountant, I hope to be able to assist people with their financial information and help them make the right choices with their money. Others see accounting as just making financial statements, or filing your taxes. However, accounting is much more than that, and financials can have a bigger impact on the public than most believe.

Financials show the state of the company, which help people decide if they want to invest in it. Unfortunately, it is possible that the numbers on these statements can be tampered with. This is also relatable to ethical vs. unethical acts in the workplace. Revenues can be raised and expenses lowered to increase earnings in order to meet the demands of shareholders and/or attract more investors. On the other hand, revenues can be falsely decreased so the company can pay less taxes. A memorable example is when Enron took billions of dollars from shareholders, and public alike. I think this shows the power financials have in a company’s success, but also the power accountants have to challenge these numbers.

There certainly was some accountants or executives with accounting knowledge behind these frauds, but those who caught and/or got the evidence against the wrong-doers were also accounting professionals. According to my dad, anyone can put financials together or file income taxes, but accountants are willing to do all that and take responsibility for the numbers, and I agree completely. I believe that strong (and honest) accountants can guide businesses and individuals to gain much more in the long run.

Reference: http://www.accounting-degree.org/scandals/

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