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?
What is the Sarbanes-Oxley Act of 2002 (“SOX”) and why is it important?
What is the Sarbanes-Oxley Act of 2002 (“SOX”) and why is it important?
Identify the section in the AICPA Codification that addresses Brett’s ethical issues. (Consider the Brett Whitaker video and the related resources along with the AICPA Code of Professional Conduct)
Identify the section in the AICPA Codification that addresses Brett’s ethical issues. (Consider the Brett Whitaker video and the related resources along with the AICPA Code of Professional Conduct)
During metabolic acidosis, explain how the respiratory compensatory mechanism works to return the body to homeostasis.
During metabolic acidosis, explain how the respiratory compensatory mechanism works to return the body to homeostasis.
Choose a DB topic that you have written about this term (in this class)
that you would like to further explore and write a 900–1,000 word paper
on the topic. The paper will have 5 scholarly articles, which have been
published within the previous 4 years; each of the articles must be a narrative on the results of a study/research. The paper is not a restatement of the original DB post, but is a review of all 5 of the scholarly articles.
What action steps you can take right now to support your journey in becoming a scholar of change
What action steps you can take right now to support your journey in becoming a scholar of change
How you, as a scholar of change, will work to support young children and their families
How you, as a scholar of change, will work to support young children and their families
What you feel are major supports and challenges within your present environment related to your becoming a scholar of change
What you feel are major supports and challenges within your present environment related to your becoming a scholar of change
