1.1 INTRODUCTION
Many people think of accounting as a highly technical field which can be understood only by professional accountants. Actually, nearly everyone practices accounting in one form or another on an almost daily basis
We live in an era of accountability. Although, accounting has made sits most dramatic progress in the field of business, the accounting function is vital to every unit of our society. An individual must account for his or her income, and must supply personal accounting information in order to buy a car or home to qualify for a college scholarships to secure a credit card, or to obtain a bank loan. Large corporations are accountable to their stockholders, to government agencies, and to the public. The federal government, the states, the cities, the school district: all must use accounting as a basis for controlling their resources and measuring their accomplishments. Accounting is equally essential to the successful operation of a business, a university, a polytechnic and a social program.
LITERATURE REVIEW
2.1 THE CONCEPT OF PROFESSIONALISM
“If we command our wealth, we shall be rich and free, If our wealth command us, we are poor indeed”.
EDMUND BURKE
In the words of Lord Hailsham of Maryleborne (1973): “The professional man has no class antagonism. He is not hostile to manual labour, organism. He is not hostile to manual labour, organized or not organized. He is neither hostile nor subservient to management in industry, to the agriculturists, to the landlord, to the tenant, or to nay other class. On the contrary, he provides services to them all. But the view of society to which he submit and which alone is congenial to its interest is that it should not be uniform”.
The mark of a free and civilized nation is not its role by majority vote but the treatment it accords to minorities.
Uniformity and for that matter equality whether of income property or esteem can be bought if at all, only at the price of repression. Uniformity is there enemy of Freedom; imposed equality is in consistent with justice, social or individual.
In the age of trollop novels, “The professions (Par excellence) were of course the church, the law, medicine, and the commissioned ranks in the armed services. But this is merely w3rong today, even if it were even right, it is in fact positively misleading. The growth in the number of professions shows it to be false, an attempt at definition simply by enumeration of the individual member of a class is bound to be miss leading.
Professions today are more numerous than they have been in the past and their services more than ever essential to the public weal.”
By definition, Morie Hang, and Marian Suesman defined a profession as: “an occupation based on a unique scientific body of knowledge, whose practitioners have service orientation, and antonym in the performance of their work”. Also Morvis L. Cogan in his article, Toward a definition of profession (1953) said.
“A profession is a vocation whose practice is founded upon an understanding of the theoretical structure of some department of learning or science, and upon the abilities attending such understanding”. Encyclopedia Americana (1981) defined profession as: “an occupation that requires liberal education and places emphasis on mental rather than manual activity”.
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