Personal and Professional Judgement. Accounting, Finance, SPSS Essay

Personal and Professional Judgment
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These days, the global business practices have taken a progressively complex form, and it has become essential for companies and brands to maintain their financial information on a regular basis. The need for accountants has increased tremendously as they are the individuals who can make professional judgments and help the companies improve their sales and target potential customers worldwide. According to Alexander Styhre, one of the significant differences between personal and professional judgment is that the personal judgment is based on one’s personal experience, common sense, and background. On the other hand, the professional judgment is based on a person’s qualifications, experience, and knowledge (Styhre, 2013).
In all parts of the world, the professional judgment is preferred over the personal judgment. One of the major reasons is that the professional judgment is not based on one’s interests or ideas. Instead, it is based on specialized experience and the knowledge gained throughout the academic career (Moran, 2008, p. 304). It means an accountant cannot make decisions by his mindset; he has to do everything according to the standards maintained by the company he is serving at. An accountant makes the wise use of pertinent data and balance intuitions while making the decisions. He may fall into common judgment traps if he is not capable of thinking out of the box. Many of these judgments lead to serious consequences and can cost businesses more than their actual budget (Moran, 2008).
In order to prevent himself from all these uncertain things, the accountant should always make optimal judgments and seek the help of other professionals working in the same company whenever needed. It is safe to say that the proper use of the professional judgment can resolve various ethical dilemmas in the workplace. First of all, it helps strengthen the relationship between an accountant and the company manager (Derun, 2017, p. 26). If you own a full-fledged business where an accountant has recently been hired, you must support him throughout t...