THE BOTTOM LINE: Inside Accounting Today

An evaluative overview of the accounting profession by a writer well-versed in the financial world (The Lifetime Book of Money Management; Men, Women, and Money; etc.). Celebrating the centennial of the organized accounting profession, Weinstein explores CPAs from a historical as well functional perspective. Accounting today, after evolution through countless centuries, remains the accepted language of business, with its participants playing ever broader roles. Although traditionalists focus on three functions--audit, tax, advisory services--pioneers have evolved into some extremely unrelated fields: for example, executive recruiting. This expansion lies at the heart of the heated controversy concerning the audit function, and how it is being thrust into conflicting situations. Ethically, potentially serious scenarios could develop if auditors do not play independent roles in their client relationships. In addition to the audit function, broad educational issues and career paths are discussed, as well as standards and codes. Weinstein provides no final resolution to the accounting fate of the CPA. However, she expresses concern for the meaning and implied responsibility of the word ""public"" in Certified Public Accountant. Dry for non-CPAs, but appealing to those green-visored bottom-liners.