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Accounting ethics is primarily a field of applied ethics and is part of business ethics and human ethics, the study of moral values and judgments as they apply to accountancy. It is an example of professional ethics. Accounting was introduced by Luca Pacioli, and later expanded by government groups, professional organizations, and independent ...
Value theory. In ethics and the social sciences, value theory involves various approaches that examine how, why, and to what degree humans value things and whether the object or subject of valuing is a person, idea, object, or anything else. Within philosophy, it is also known as ethics or axiology. Traditionally, philosophical investigations ...
International Federation of Accountants. The International Ethics Standards Board for Accountants (IESBA) develops and promotes the International Code of Ethics for Professional Accountants (including International Independence Standards). The IESBA also supports debate on issues related to accounting ethics and auditor independence.
Net worth in this formulation does not express the market value of a firm; a firm may be worth more (or less) if sold as a going concern, or indeed if the business closes down. Net worth vs. debt is a significant aspect of business loans. Business owners are required to "trade on equity" in order to further increase their net worth. [4]
Accounting. Cost of goods sold ( COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs that are ...
In ethics, intrinsic value is a property of anything that is valuable on its own. Intrinsic value is in contrast to instrumental value (also known as extrinsic value), which is a property of anything that derives its value from a relation to another intrinsically valuable thing. [ 1] Intrinsic value is always something that an object has "in ...
Forensic accountants need to have a great deal of access to information regarding the company they are investigating or assisting. The information will determine how much a person actually makes, the worth of a business, if there has been fraudulent activity, who committed the fraud, everyone involved, how much was taken from the company, where the money went, and how much can be recovered.
Definition. In national accounts, net output is equivalent to the gross value added during an accounting period when producing enterprises use inputs (labor and capital assets) to produce outputs. Gross value added is called "gross" because it includes [clarification needed] depreciation charges or consumption of fixed capital.