The significance of Ethical Accounting Standards Towards the Quality of Accounting Practices for Aspiring Accounting Professionals in Muscat, Oman

Abstract

Accurate and reliable financial and accounting information serve as a basis for business decision-making processes. Accountants must adhere to the required standards of accounting in order to get significant accounting information. The purpose of this research is to examine the significance of ethical accounting standards and their relationship to high-quality accounting procedures. The possibility of fraud and mistakes in accounting transactions is prevented and lessened with the use of ethical accounting practices. Adhering to ethical accounting principles can help financial reporting obtain credibility. Creditors, investors, and other stakeholders use accounting and financial data to make various financial decisions. Ethical accounting principles guarantee the integrity, dependability, and accuracy of this data. So, the investigator intended to conduct the investigation. 194 prospective study participants who are aspiring accountants were taken into consideration from Muscat, Oman. According to the study, ethical accounting methods significantly affect several demographic variables, including family size, income level, and qualification. Additionally, it was shown that candidates who are knowledgeable of ethical accounting practices prefer the subsequent accounting standards. It has been demonstrated that there is a correlation between ethical accounting practice and higher-level accounting practices.