Tuesday, March 24, 2020

AICPA Code of Conduct free essay sample

The AICPA, or the American Institute of CPAs, represents the accounting professionals in several countries. Like any other profession, there are some grey areas that without guidelines could create a mess. The AICPA has developed a code of professional conduct which serves three main purposes: define responsibility of accounting professionals, educate the public to protect the accounting professional, and educate the public to protect the public. Responsibility The AICPA Code of Professional Conduct says that certified public accountants have responsibilities to everyone who use their professional services. Unless you are an accounting professional, it is highly unlikely that you know all of the rules and regulations that must be abided by when it comes to bookkeeping, taxation and financial reporting. That’s what keeps the accounting profession running; they are the experts that the rest of the world turns to for accounting services. CPA’s must maintain a level of responsibility and follow ethical standards when performing these standards. We will write a custom essay sample on AICPA Code of Conduct or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is the accounting professional’s responsibility to do what it right, even when it’s not the popular vote to protect themselves and their client. Public Education As mentioned earlier, not everyone’s an accounting guru. The AICPA Code of Professional Conduct lays out the guidelines and expected conduct for accounting professionals to follow. This assists in protecting the public by giving them resources and education to know what to expect out of their accounting professional. The AICPA Code of Professional Conduct sets a standard for all accounting professionals to abide by. This is not to say that there are not a few crooked individuals still out there, but hoping that all professionals follow the code, the public is in better hands. CPA Protection Lastly, the AICPA Code of Professional Conduct assists in protecting the accounting professionals. By laying out the responsibility, integrity and due care expectations of all CPA’s, it assists the CPA in standing up for what’s right. Situations may arise where a client attempts to bribe or bully an accounting professional into â€Å"fibbing† on financials to make their business look better than it is. But if the accounting professional abides by the AICPA Code of Professional Conduct, and makes their client aware of it, they have backing and support for doing the right thing. Closing The AICPA Code of Professional Conduct serves 3 major purposes: define responsibility, educate public, and protect the professional. The AICPA is a huge organization that reaches many people. The more individuals that are educated, the better chance of ethical business decision making. References AICPA-principles of professional conduct. (2013). Retrieved from http://www.aicpa.org/Research/Standards/CodeofConduct/Pages/sec50.aspx

Friday, March 6, 2020

The Wade-Davis Bill and Reconstruction

The Wade-Davis Bill and Reconstruction At the end of the American Civil War, Abraham Lincoln wanted to bring the Confederate states back into the Union as amicably as possible. In fact, he did not even officially recognize them as having seceded from the Union. According to his Proclamation of Amnesty and Reconstruction, any Confederate would be pardoned if they swore allegiance to the Constitution and the union except for high-ranking civil and military leaders or those who committed war crimes. In addition, after 10 percent of voters in a Confederate state took the oath and agreed to abolish slavery, the state could elect new congressional representatives and they would be recognized as legitimate. Wade-Davis Bill Opposes Lincoln's Plan The Wade-Davis Bill was the Radical Republicans answer to Lincolns Reconstruction plan. It was written by Senator Benjamin Wade and Representative Henry Winter Davis. They felt that Lincolns plan was not strict enough against those who seceded from the Union. In fact, the intention of the Wade-Davis Bill was more to punish than to bring the states back into the fold.   The key provisions of the Wade-Davis Bill were the following:   Lincoln would be required to appoint a provisional governor for each state. This governor would be responsible for implementing measures set out by Congress to reconstruct and state government.  Fifty-percent of the states voters would be required to swear loyalty to the Constitution and the Union before they could even begin creating a new Constitution through the state Constitutional Convention. Only then would they be able to begin the process to be officially be readmitted to the Union.  While Lincoln believed that only the military and civilian officials of the Confederacy should not be pardoned, the Wade-Davis Bill stated that not only those officials but also anyone who has voluntarily borne arms against the United States should be denied the right to vote in any election.  Slavery would be abolished and methods would be created to protect the liberty of freedmen.   Lincoln's Pocket Veto The Wade-Davis Bill easily passed both houses of Congress in 1864. It was sent to Lincoln for his signature on July 4, 1864. He chose to use a pocket veto with the bill. In effect, the Constitution gives the president 10 days to review a measure passed by Congress. If they have not signed the bill after this time, it becomes law without his signature. However, if Congress adjourns during the 10-day period, the bill does not become law. Because of the fact that Congress had adjourned, Lincolns pocket veto effectively killed the bill. This infuriated Congress. For his part, President Lincoln stated that he would allow the Southern states to pick which plan they wanted to use as they rejoined the Union. Obviously, his plan was much more forgiving and widely supported.  Both Senator Davis and Representative Wade issued a statement in the New York Tribune in August 1864 that accused Lincoln of attempting to secure his future by ensuring that southern voters and electors would support him. In addition, they stated that his use of the pocket veto was akin to take away the power that should rightfully belong to Congress. This letter is now known as the Wade-Davis Manifesto.   Radical Republicans Win in the End Sadly, despite Lincolns victory, he would not live long enough to see Reconstruction proceed in the Southern states. Andrew Johnson would take over after Lincolns assassination. He felt that the South needed to be punished more than Lincolns plan would allow. He appointed provisional governors and offered amnesty to those who took an oath of allegiance. He stated that states had to abolish slavery and acknowledge seceding was wrong. However, many Southern States ignored his requests. The Radical Republicans were finally able to get traction and passed a number of amendments and laws to protect the newly freed slaves and force the Southern states to comply with necessary changes.