Annotated Bibliography Sample on Accountants: Essential People for a Firm's Success

Introduction

Accountants are essential people in the running of a firm as they help keep records of the spending in the company and thus track the expenditure process. They follow income, expense, ensure there is statutory compliance in an organization, provide the management, the investors, and the government with financial information that can be used to arrive at crucial decisions. They are tasked with the production of cash flow statements, income statements, and balance sheets. One should keep the business's financial records clean if they survive the turmoil that comes with opening a business. Accountants will evaluate the company's performance and give the necessary direction that should be taken to keep the business afloat. They will also help shape the budget of the business on instances like where to channel the profits from the business and invest even for more profits. In this paper, I will look at several sources from the University of Mississippi Library database, which explain the need for accountants in businesses, in firms and companies. The references will be from peer-reviewed journals published in the period between the past five to ten years for credibility and to avoid the use of outdated data.

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Annotated Bibliography

Blackburn, R., Carey, P., & Tanewski, G. (2018). Business advise by accountants to SMEs: Relationships and trust. Qualitative Research in Accounting & Management, 15(3), 358-384. doi:10.1108/QRAM-04-2017-0022

The authors examine the importance of SMEs taking advice from external people in these case accountants. The authors conducted a study, which had its limitations but managed to get results. The paper develops the accounting knowledge by explaining the relationship and trust model and emphasizes the importance of the relationship to the two (Blackburn et al., 2018).

Caglio, A., & Cameran, M. (2017). Is it shameful to be an accountant? GenMe perception(s) of accountants' ethics. Abacus, 53(1), 1-27. doi:10.1111/abac.12098

The article argues about the role of accountants and their ability to maintain high ethical standards. The paper seeks to change the perception of the modern generation about the accounting profession and its importance. The authors experiment to examine the level of ethical accountants and whether they are corrupt or not. The study ends by setting the stage that there is a need to improve perceptions about accountants' ethics and why they are needed in society. (Caglio & Cameran, 2017).

Egan, M. (2018). Utilizing accounting and accountants in the management of water efficiency. Australian Accounting Review, 28(3), 356-373. doi:10.1111/auar.12191

Egan investigates how five Australian companies used accounting techniques and accountants skills as they developed a focus on efficient use of water during a drought period. The management of various water companies used accounting knowledge to implement water-saving procedures and other accounting initiatives. Accountants played a significant role in saving those companies from recording losses. Egan finally argues that the role played by accountants in those firms impacted the top management decision greatly. He says that they might purposefully contribute to water efficiency procedures or bring change to the firms (Egan, 2018).

Gerstein, M., & Friedman, H. H. (2016). The necessity for a new kind of accounting: Conscious accounting. Journal of Accounting and Finance, 16(1), 61

The two authors talk about conscious capitalism, and its primary focus being the creation of businesses take all stakeholders' interest in consideration and not just obsessed with profit-making. The paper opines that accountants and auditors must become the voice of reason in an organization and are therefore tasked with the ethical toning of the company. The paper demonstrates how accountants are positioned to provide a competitive edge and create sustainability in the business (Gerstein & Friedman, 2016).

Main, J. (2018). Taxation: Succession planning: Why communication between lawyers and accountants is crucial. Lsj, (50), 77

Main talks about a situation where a lawyer shares a client with a lawyer. The lawyer despises the accountant because he does legal-related activities and discounts the lawyer’s input when advising the clients the two share. He explains the scenario where the lawyer is asked if the accountant is fit for succession. Still, he rubbishes them, saying it is unnecessary because it is a legal matter.

The article is a classical case of why there is a need for accountants in firms because they are fair in their evaluation, and they prevent extortion of people by other professionals. The story considered might have been the only one of its kind as the author does not give other such stories.

Sidorova, M., Nazarov, D., & Vakhrushina, M. (2019). The enlightenment as a determinant of accounting change: The case of royal estate bookkeeping during the reign of Catherine II. Accounting History, 24(2), 185-211. doi:10.1177/1032373218814269

The authors of this article focus on the study of experts in accounting and their need in the market to spearhead the change in the market from intuitive actions of power to rational ways of governing. The article opines that the symmetry existing between the government's needs and the experts' qualifications is the essential factor in the application of new accounting techniques.

The article investigates the attempt to introduce new accounting techniques in the royal estate, and the failure is because there was an inadequate number of experts in the field. It is therefore relevant to the study, and the limitations are that the sample size was not well spread out.

West, A., & West, A. (2018). Multinational tax avoidance: Virtue ethics and the role of accountants. Journal of Business Ethics, 153(4), 1143-1156. doi:10.1007/s10551-016-3428-8

West talks about the technique that firms use to reduce their tax liability and complains that they have come under the scrutiny of the public eye and other concerned bodies. He says that the discussion involving tax and its evasion by businesses is based on moral concepts; there is a limited philosophical concept about multinational firms avoiding tax payments.

He argues that accountants agree with Maclntyre’s approach to dealing with multinational tax avoidance schemes. The study is relevant to this research question, as it explains the role of accountants. The limitation of this study is that the sample size used was small and may not reflect on the actual state of matters.

YOU'RE HIRED! why accountants are such hot commodities in the NY job market. (2011). Crain's New York Business, 27(39)

The article talks about why there is a demand for accountants in the currents job market and why learners who have passion in the discipline should pursue the course. The growing economy means that many businesses are coming up, and thus there is a need for professional accounting services in these countries. The companies need the services of such people to have streamlined services for their clients and shareholders.

The article also opines that there is a need for many accountants to replace the retiring workforce. The article is thus useful for answering the research question, and there are no limitations that were identified.

Bibliography

Blackburn, R., Carey, P., & Tanewski, G. (2018). Business advise by accountants to SMEs: Relationships and trust. Qualitative Research in Accounting & Management, 15(3), 358-384. doi:10.1108/QRAM-04-2017-0022

Caglio, A., & Cameran, M. (2017). Is it shameful to be an accountant? GenMe perception(s) of accountants' ethics. Abacus, 53(1), 1-27. doi:10.1111/abac.12098

Egan, M. (2018). Utilizing accounting and accountants in the management of water efficiency. Australian Accounting Review, 28(3), 356-373. doi:10.1111/auar.12191

Gerstein, M., & Friedman, H. H. (2016). The necessity for a new kind of accounting: Conscious accounting. Journal of Accounting and Finance, 16(1), 61.

Main, J. (2018). Taxation: Succession planning: Why communication between lawyers and accountants is crucial. Lsj, (50), 77.

Sidorova, M., Nazarov, D., & Vakhrushina, M. (2019). The enlightenment as a determinant of accounting change: The case of royal estate bookkeeping during the reign of Catherine II. Accounting History, 24(2), 185-211. doi:10.1177/1032373218814269

West, A., & West, A. (2018). Multinational tax avoidance: Virtue ethics and the role of accountants. Journal of Business Ethics, 153(4), 1143-1156. doi:10.1007/s10551-016-3428-8

YOU'RE HIRED! why accountants are such hot commodities in the NY job market. (2011). Crain's New York Business, 27(39)