POA theory CH1

Question 1

stakeholders

Answer 1

-owners
-managers
suppliers

Question 2

role of accounting

Answer 2

prepare accounting information for stakeholders to make informed decisions

Question 3

role of accountants

Answer 3

set up an accounting information system and become stewards of the business

Question 4

professional ethics

Answer 4

an ethical accountant has integrity and is objective

having integrity: being straightforward and honest in all professional relationships

-being objective: Do not let bias, conflict of interest or undue influence of others override his or her professional judgement