How accomplishing course objectives enable successful accounting
Accomplishing the course objectives will enable one to be a successful accountant because they will be able to recognize and understand the ethical issues concerning the accounting profession. Consequently, they will work with the ethical guidelines leading to effective outcomes and avoidance of litigations. Also, the objectives teach students to use the Generally Accepted Accounting Principles. As such, they will formulate the financial statements as required. They also learn the art of critical thinking, which they can apply in the analysis of financial statements to become successful accountants. They will be able to recognize any contradictory financial accounting approaches. Also, they will learn about the users of the accounting information. Hence, they will be able to understand their needs and acquire skills on how to communicate any information, and give the required recommendations. Moreover, they will know areas that might have high chances of a fraud calling for increased internal control measures ("A framework for incorporating critical thinking into accounting education - ScienceDirect," 2014) . Similarly, they will understand the entire process of auditing by applying the acceptable practices and current auditing standards.
The challenges an accountant experiences for failing to master the accounting course objectives
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Failure to comprehend the ethical standards might lead to the failure of an accountant. They might compromise transparency and objectivity and end up taking bribes, which might lead to lawsuits against them. Also, they can fail to understand the Generally Accepted Accounting Principles, which is a requisite in the formulation of financial statements. Hence, they come up with financial statements that do not adhere to the set standards compromising their professionalism. Without gaining the critical thinking skills, they will do shoddy work because there will be no deep analysis of the financial statements to recognize errors like that of omission and commission. Failure to understand the users of accounting information and their needs might make the accountant fail to meet the anticipations and demands of their clients leading to unpaid contracts (Steve, & Robert, 2013) . Also, failure to identify the high-risk areas to employ high internal control measures might lead to failed auditing process because frauds and errors will go unnoticed.
References
A framework for incorporating critical thinking into accounting education - ScienceDirect . (2014). Sciencedirect.com . Retrieved 10 May 2017, from http://www.sciencedirect.com/science/article/pii/074857519500012B
Steve, A., & Robert, S. (2013). The perilous future of accounting education - ProQuest . Search.proquest.com . Retrieved 10 May 2017, from http://search.proquest.com/openview/96f7be78a3a3aa47f68075d08fc60bb3/1?pq-origsite=gscholar&cbl=41798
