AFM202 Lecture Notes - Lecture 1: Continuing Education, Financial Statement, Problem Solving

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM202
• Professor: Alan Mc Naughton

Document Summary

Enabling competences - sets accountant apart from a professional accountant: professional & ethical behaviour, honesty. Integrity: coping with ambiguity and protecting the public interest, problem solving & decision making, communication, teamwork & leadership. Cpa code of professional conduct: characteristics of a professional. Intellectual skill: responsibility for compliance with the cpa code. Serving others and the public: other is more important than the self, acceptance for being governed by professional peers, you are a member of the institute, adhere to the code of the professional conduct. Five basic principles governing conduct - fundamental principles: professional behaviour (201, maintain the good reputation of the profession and serve the public interest, avoid illegal acts. Act in the best interest of others: professional competence (203, continuing education. Hours of professional development: keeping informed of, and complying with, developments in their area of professional service, not allowed to take in engagements for which you are not competent, confidentiality (208, protect confidential information.