Accounting

Accounting When examining the effect of open marketing on the profession of accounting it is important to view it from three perspectives: the client's, the profession's, and society's. Additionally, two key areas that are affected by marketing must be addressed, these are concerning competition, and ethical implications. Marketing in public accounting is here to stay therefore making an argument against its existence would be fruitless; however, in order to achieve maximum benefit to the firm, the client, and s ociety more stringent guidelines must be implemented at the firm level. The first, and most obvious, of the effected areas is competition. Within competition several points are discussed. First, the implications advertising has on public accounting-- the model of perfect competition versus the model of monopolistic compet ition. Secondly, the relationship between firm size and advertising expenditures. Thirdly, the effect of advertising on firm specialization, the implications of client turnover on public accounting practice. Before making the comparison, a brief explanation why the two models are chosen is in order. Monopolistic competition has been chosen for the pre-advertising era because it most closely resembles the market structure in an extreme sense. The elements o f monopolistic competition are as follows: product differentiation, the presence of large numbers of sellers, and nonprice competition. Although accounting services between firms offer very little service differentiation, the firms, client, must, service, market, pricing, firm, new, result, competition, accounting, integrity, one, clients, base, area, small, price, cost, because, advertising, services, providing, profession, monopolistic, model, marketing, little, independence, first, effect, demand, xyz, regarding, order, means, larger, industry, implications, however, expense, established, damaging, costs, competitive, turnover, therefore, specialize, specialization, smaller