By Mauro Libi.- Nowadays, the financial structure of organizations has undergone transformations. Economic approaches are no longer the same as in previous times and accounting policies have evolved, giving entry to what is known as creative accounting. This concept is a digression from the fundamental principles of the accounting profession, as it is based on the manipulation of information with defined interests. A trend that has put in question the ethics of the accountant. Creative accounting consists to manipulate the information to falsely alter what would be the natural result determined according to the accounting policy drawn by the company. Given this panorama, accountants have a great moral and ethical challenge to reverse this situation and return the accounting to the norms of the duty to be. In the interior of creative accounting, there are conservative and aggressive accounting policies that lead to lower accum...
I am a Venezuelan entrepreneur and chairman of The Libi Group, which groups several companies including the Food Processing Industry, Cold & Macaracuay Service, Inproceca and Frimaca. On my blog, i write about business, entrepreneurship initiatives, market strategies and other topics.