Then write a 2-page Executive Summary that summarizes the top System/Application Domain risks, threats and vulnerabilities and include a brief description of a possible mitigation technique (include at least 3 references), use the PCI-DSS standard as a baseline definition for compliance: https://www.pcisecuritystandards.org/documents/PCI_DSS_v3-2-1.pdf?agreement=true&time=1624826639562 or see in the Assignments section on D2L.
Then write a 2-page Executive Summary that summarizes the top System/Application Domain risks, threats and vulnerabilities and include a brief description of a possible mitigation technique (include at least 3 references), use the PCI-DSS standard as a baseline definition for compliance: https://www.pcisecuritystandards.org/documents/PCI_DSS_v3-2-1.pdf?agreement=true&time=1624826639562 or see in the Assignments section on D2L.
Question: In what ways can a member of the full-time faculty increase his or her income?
Question: In what ways can a member of the full-time faculty increase his or her income?
What does this statement mean to you “The public relies on the ethics and professionalism of CPAs to protect their interests”?
What does this statement mean to you “The public relies on the ethics and professionalism of CPAs to protect their interests”?
Eighteenth century Britain had grown to be a great imperial power, with conquests throughout the world. At about this same time, the first Industrial Revolution (circa 1760 – 1840) was taking off in Britain. Just as The Reckoning made the case that double-entry accounting was instrumental in the Italian Renaissance, the book asserts that “sophisticated forms of double-entry accounting were the foundation of the first Industrial Revolution” (p. 122). Do you agree? If so, in what way did double-entry accounting provide the tools needed for the Industrial Revolution to occur? If you do not agree, discuss how the Industrial Revolution could have occurred without the record keeping provided by accounting.
Eighteenth century Britain had grown to be a great imperial power, with conquests throughout the world. At about this same time, the first Industrial Revolution (circa 1760 – 1840) was taking off in Britain. Just as The Reckoning made the case that double-entry accounting was instrumental in the Italian Renaissance, the book asserts that “sophisticated forms of double-entry accounting were the foundation of the first Industrial Revolution” (p. 122). Do you agree? If so, in what way did double-entry accounting provide the tools needed for the Industrial Revolution to occur? If you do not agree, discuss how the Industrial Revolution could have occurred without the record keeping provided by accounting.
One of the key themes of The Reckoning is the following: “If there is any historical lesson to be learned here, it is that those societies that managed to harness accounting as part of their general cultures flourished. Republican Italian city-states like Genoa and Florence, Golden Age Holland, and eighteenth and nineteenth-century Britain and America all integrated accounting into their educational curriculum, religious and moral thought, art, philosophy, and political theory.”
What do you think? Is it necessary to somehow broaden the reach of accounting so that all have a basic understanding and it is part of most everyone’s daily life? If so, how do we accomplish this? If not, how do we ensure people continue to trust the government, to trust the companies they are invested in and trust the companies they depend on for their jobs and livelihood’s if they do not understand the financial reports they issue?
In the beginning Chapter 11, Jacob Soll states The Reckoning “In hindsight, it is obvious that as accounting become more complex, so did the possibility for fraud. Thus two faces of accounting emerged in modern consciousness. Some thinkers began to mistrust accounting, seeing it as a tool for exploitation and fraud; others held it up as a model of modern rationality.”
Why blame accounting for the way it was used? Was this fair? Is that still the case today?
In the 1790s, the Commonwealth of Pennsylvania made the State’s account books open to the public where all citizens could review them and verify them with their own eyes. The State Comptroller stated in 1795 that “citizens were more likely to pay taxes, and even enjoy paying taxes, when they are ‘faithfully accounted for.’” Do you agree with the Pennsylvania State Comptroller? Why or why not?
In the 1790s, the Commonwealth of Pennsylvania made the State’s account books open to the public where all citizens could review them and verify them with their own eyes. The State Comptroller stated in 1795 that “citizens were more likely to pay taxes, and even enjoy paying taxes, when they are ‘faithfully accounted for.’” Do you agree with the Pennsylvania State Comptroller? Why or why not?
It is quite clear that Jean-Baptiste Colbert, Louis XIV’s chief accountant, was instrumental in bringing back the financial glory of France after the Fronde (1648 – 1653). Colbert had instituted a clear and complete accounting structure for Louis that provided Louis with the financial information he needed to run his kingdom – including pocket size account books. Upon Colbert’s sudden death in 1683, however, Louis chose not to replace Colbert or continue this formal accounting function. Why was this the case and what were the implications for Louis and for France?
It is quite clear that Jean-Baptiste Colbert, Louis XIV’s chief accountant, was instrumental in bringing back the financial glory of France after the Fronde (1648 – 1653). Colbert had instituted a clear and complete accounting structure for Louis that provided Louis with the financial information he needed to run his kingdom – including pocket size account books. Upon Colbert’s sudden death in 1683, however, Louis chose not to replace Colbert or continue this formal accounting function. Why was this the case and what were the implications for Louis and for France?
In our conversation on Accounting Professionalism, there are repeated references to ethics, to trust, to the morality of accounting, etc. Accounting is seen as not only a financial system, but a system based on trust and subject to oversight. A system needed to provide assurance to investors and taxpayers, to bring order to financial records, to give government to ability to review business activity, etc.
While accounting began as a tool for merchants to account for investment and the daily activity of their businesses, the system of accounting we have today can be traced back to Luca Pacioli’s first written accounting book, his Summa de Arithmetica. Who was Pacioli and do you think that his influences and beliefs affected how we view and use accounting today? If the author of that first accounting book had a different background (e.g., an attorney, a merchant, a Prince, a banker), would modern accounting be different from what we have today?
The Reckoning asserts “…that financial accountability functioned better when accounting was seen not simply as part of a financial transaction but also as part of a moral and cultural framework. With this culture of accountability came capitalism and representative government.”
As we begin to look at this larger question, what are your initial thoughts? Are we (accountants and accounting) that important to society or is this way overblown? Also, in my question I am assuming society must have accountants and accounting. Can society get by with accounting but without accountants; just an excellent AI enabled Quickbooks function, good data analytics driven by IT and Marketing and some fully functioning ERP systems?
