History of the issues Ethics are a very important issue in case of maintaining accounts in a professional way. History says that this kind of accounting practices provide moral value and prevent anyone to do any kind of injustice. Every professional accountant should have the ethical knowledge otherwise they will be unable to know what is right and what is wrong. Ethics provide disciplinary action to do the accounting work in a proper and accurate way. The accounting skill will also enhance by using the ethical factors. At the same time, a good reputation can be built by any accountant for practicing ethical knowledge in the accounting system.
Work pressure will also be reduces by such kind of practices because chances of doing wrong entries will be omitted totally if someone will follow the ethical guidelines for keeping accounting records. Now another more important problem can also be solved by this issue. From the very past doing fraud in accounting entries is a very common problem. Ethical factors can build strength within an organization which will help to prevent such kind of practices.
Luca Pacioli was 1st introduced the accounting ethics in the year 1494 (Chatfield and Vangermeersch, 2014). He was an Italian mathematician and is recognized as the “ Father of Accounting” in the worldwide. In his 1st book, he 1st wrote about the accounting ethics. The name of that book is ‘ Summa de arithmetic, geometry, proportions, et proportionality’ . From that period ethical standard has been implemented in accounting practices in the government organizations, independent companies, and private or professional organizations. These groups have directed their accountants in the organization to follow the ethical rules and regulation for maintaining accounting records of the organization.
Such kind of practices will maintain the stable professional work environment in any organization. The major duty of an accountant is to maintain the settled guidelines of ethical issues by any organization where they are involved.
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