...Abstract Over the past ten years, public trust in the accounting profession has been diminished due to financial scandals brought on by poor decision making, dishonesty and a move away from morals, values, and ethics. With the perception of accounting at an all-time low, there is a need to reinvent the profession. The following pages of this research paper will examine the Model of Organizational Trust, and its three elements of ability, benevolence, and integrity. The three elements will be defined and explained using support from peer-reviewed articles. The report will also discuss the ways in which the elements are incorporated in the AICPA’s Code of Professional Conduct. The elements will be examined to learn the ways in which they help to promote trust in the accounting profession and finally, suggestions will be proposed to help improve public trust in the accounting profession. Introduction An essential component every profession must possess in order to garner satisfaction and commitment from clients and customers is trust. Trust cannot be gained quickly; it is developed over time through interactions, observations, and an understanding of another’s beliefs and values (Mayer, Davis, Schoorman, 1995). However, a person’s stated beliefs do not often dictate their behavior. In pursuit of professional goals, individuals often set aside what they know to be right and act in a manner that benefits them either financially, with recognition, or in some other manner (Six...
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...Spirituality in the Workplace ABSTRACT In this paper I will attempt to study and understand the need for spirituality in the workplace. Workplace Spirituality is awareness, interconnectedness with one another and a higher existence, a sense of fulfilment, and value and meaning to one’s calling. Spirituality in organizations is an area gaining increasing popularity. The growing interest, however, is on how spirituality improves organizational performance, and the impact of spiritual influences in a workplace. Introduction: In today society’s organizations want their employees to be able to come to work and manage their emotions while working with coworkers and customers. However, employees are constantly under stress which may reduce the effectiveness of his or her work ethics. Workplace spirituality is the method of incorporating one’s personal idea of “spirituality” in their daily work schedule. Spirituality can give employees a sense of balance and security and therefore improve their organizational efficiency and effectiveness. With spiritualty now incorporating itself in to the workplace it is helping the organization enhance its performance and increase the development of business ethics. The importance of a business to incorporate spirituality within the workplace will continue to influence the culture of business in the anticipated future. What is Spirituality? Webster’s College Dictionary defines spirituality as the quality or “state of being...
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...Andrea Howell MBA 604 Professor Powers Feb 7 2016 Introduction: The compliance department within the brokerage of firm Mercy Securities Corporation ensures that the firm is operating within all laws, rules and regulations. The department is responsible for monitoring sales to ensure that it complies with FINRA and SEC regulations. Compliance officers have the ability to reduce legal problems and improve public relations. Compliance department is very important in a brokerage firm because it builds the firm's integrity and reputation. Objective: The objective of this report is to explain how the compliance department operates within Mercy Securities Corporation, which controls methods should be in place. The report includes a in detailed look into two forms of control; internal control and management control systems. Conclusion: The compliance department is especially important in a brokerage firm. The compliance department can benefit from implementing internal control and management control systems. There are three types of internal controls - preventative, detective and corrective. The compliance department can be fortified by implementing all three. It is recommended that the compliance department implement management control systems by practicing both personnel and action control. Personnel control builds employees natural tendencies to control or motivate themselves. Action control is a very strict form of management control. It provides more assurance that...
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...Employment-At-Will Doctrine Sheryl Medford-Mark Professor Ellen Kapalko Law and Ethics in the Business Environment January 22, 2013 Introduction As a manager and supervisor of an accounting department, discuss the following issues related to the employment-at-will doctrine and liability of an employer based on actions and responses to the employee’s behavior and actions. Jennifer, a recent graduate, has recently been hired by your accounting firm out of college. Upon being hired, she engages in a number of different behaviors that need your attention. * For each category of behavior, describe what steps you would take to address the situation. 1. Describe what steps you would take to address the following scenario involving skills, competence, and abilities: * The employee seems to be unable to learn the computer applications that are basic to her job responsibilities, but, consistently “tells” her boss that she is “a good worker and a genius” and that he does not “appreciate her.” Even after a few months of training and support, she is unable to use the computer tools to be productive and efficient in completing the required tasks. First, I would go back and review all documents recorded during Jennifer’s interview and most importantly her resume. All other employees’ documents that were hired in the same and/or equal positions will be reviewed as well. All employees expect to hire the best qualified employees who have the right skills, competence and abilities...
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...A History of Enron Enron is an energy company based in Houston, Texas that deals with the energy trade on an international and domestic basis. It was formed in 1985 when Houston Natural Gas merged with InterNorth. After several years of international and domestic expansion involving complicated deals and contracts, Enron was billions of dollars into debt. All of this debt was concealed from shareholders through partnerships with other companies, fraudulent accounting, and illegal loans. Enron was created by a merge between Houston Natural Gas and Internorth. Houston's Natural Gas's CEO Kenneth Lay headed the merger of the two companies. Kenneth Lay became the CEO of Enron. Enron was originally solely involved with the distribution and transmission of electricity and gas in the United States. In the merger, Enron incurred a large amount of debt, and as a result of deregulation, no longer had exclusive rights to its pipelines. The company had to find a way to generate profits and cash flow. Kenneth Lay hired Jeffrey Skilling to work for Enron as an accountant. Skilling suggested the practice of buying gas from a network of suppliers and selling it to consumers at a fixed price with a contract. Enron was interested in the expansion, building, and operation of pipelines, power plants, and other infrastructure worldwide. After just a year of operation Enron merged with a company called Spectrum Seven, a company whose chairman and CEO is the former president of the United States...
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...Chapter 1: The Nature of Strategic Management: We can define Strategic Management as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives. Strategic Management focuses on integrating management, marketing, finance/accounting, production/operation, research and development (R&D) and computer information systems to achieve organizational success. Strategic management involves strategy development, which is comprised of five stages. Discovery requires all members of the team to individually gather information on an agreed upon set of attributes affecting the organization. Strategic thinking, which can be defined as ‘the generation and application of business insights on a continual basis to achieve competitive advantage’. Strategic planning stage utilizes the insights form the strategic thinking phase to assemble a mission statement, set goals and objectives, audit the organization for internal strengths and weaknesses, assess the external environment for opportunities and threats, evaluate strategic options, and then select and operational an organizational strategy. The strategy roll-out phase turns the strategy into activities and offerings and ensures that the strategy is communicated well throughout the organization. The strategy tune-up phase is a meeting held several times per year to keep track of the progress of the implemented strategy and adjust for changes in the internal and...
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...venture capitalist. The venture capitalist and Nathan Jr. are predicting 100 percent growth in five years. To achieve that growth, productivity will need to increase at a similar rate. Therefore, this proposal provides a suggested business model update. Further, the functional areas updates are indicated to assist the business model to predict, plan, and implement future growth and profits. This proposal describes ideas for McCray’s updated business model. Executive Summary Here In Alabama today there are approximately 200 foundations that provide grant funding to a wide variety of nonprofit organizations for big or small. A significant portion of the grant funds provided by these foundations is given to nonprofits for educational and social service programs. Additionally, State and local government in Alabama regularly request proposals or applications from Alabama’s nonprofits to provide education and social service programs. But, competition for foundation and government agency funding is steadily increasing. Functional Area Plan: Accounting and Finance Accounting and Finance Manager Composition Just like anyone in the medical or law profession, accountants have to adhere to a code of ethics. They are responsible for tracking all financial gains and losses...
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...independent in the performance of attestation services. Critics of the accounting profession have expressed concern that pressure to maintain and develop business opportunities may erode an auditor’s objectivity and independence when making audit judgments. The profession contends that aspects of the auditing environment such as peer review, consultation review, and auditor professionalism serve to mitigate this risk. This study examines the impact of financial dependence, consultation review requirement, and moral development on a judgment based audit decision. Fifty-four experienced auditors were asked to assess the appropriateness of an audit client’s proposed change in accounting estimate for warranties. Two levels of financial dependence (Large client with potential for additional consulting revenues / Small client) and two levels of consultation review requirement (Required / Not required) were manipulated in the case materials. Moral development was measured using the Defining Issues Test (DIT) p-score. Results of the tests indicate that the presence of a consultation review requirement reduced the auditors’ assessments of the appropriateness of the accounting treatment; in addition, higher scores on the DIT were associated with lower assessments of the appropriateness of the accounting treatment. Financial dependence did not influence the assessment of the appropriateness of the accounting treatment. Implications for practice are discussed....
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...Explain why accounting is essential for decision makers and managers. LO2: Describe the major users and uses of accounting information. LO3: Explain the role of budgets and performance reports in planning and control. LO4: Describe the cost-benefit and behavioral issues involved in designing an accounting system. LO5: Discuss the role accountants play in the company’s value chain functions. LO6: Identify current trends in management accounting. LO7: Explain why ethics and standards of ethical conduct are important to accountants. PROBLEMS A1, B1 28, 29, 33 39, 40, 42 55 A2, B2 32 45 53 41, 43 A1, B1 30, 31, 34, 35, 39, 42, 44, 46 36 54 A3, B3 37, 38 47, 48, 49 51, 52, 55 Copyright ©2014 Pearson Education, Inc., Publishing as Prentice Hall. 1 CHAPTER 1 Managerial Accounting, the Business Organization, and Professional Ethics 1-A1 (10-15 min.) Information is often useful for more than one function, so the following classifications for each activity are not definitive but serve as a starting point for discussion: 1. Scorekeeping. A depreciation schedule is used in preparing financial statements to report the results of activities. 2. Problem solving. Helps a manager assess the impact of a purchase decision. 3. Scorekeeping. Reports on the results of an operation. Could also be attention directing if scrap is an area that might require management attention. 4. Attention directing. Focuses attention on areas that need attention...
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...Over the past 10 years, human resource and organizational development professionals have generated a lot of interest in the notion of competencies as a key element and measure of human performance. Competencies are becoming a frequently-used and written-about vehicle for organizational applications such as: * Defining the factors for success in jobs (i.e., work) and work roles within the organization * Assessing the current performance and future development needs of persons holding jobs and roles * Mapping succession possibilities for employees within the organization * Assigning compensation grades and levels to particular jobs and roles * Selecting applicants for open positions, using competency-based interviewing techniques Competencies include the collection of success factors necessary for achieving important results in a specific job or work role in a particular organization. Success factors are combinations of knowledge, skills, and attributes (more historically called "KSA's") that are described in terms of specific behaviors, and are demonstrated by superior performers in those jobs or work roles. Attributes include: personal characteristics, traits, motives, values or ways of thinking that impact an individual's behavior. Origin of Management including Competency Mapping: Chanakya's Arthshastra, an ancient Indian script/ book on Political Science and Administration, written some 3000 years ago. Other names of Chanakya were Mr. Kautilya, and Mr. Vishnu Gupt...
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...ScienceDirect Procedia - Social and Behavioral Sciences 150 (2014) 162 – 171 10th International Strategic Management Conference Comparison of public and non-public SMEs’ corporate governance strategies in Turkey Gülsevim Yumuk Günaya , Sudi Apakb, a c a Trakya University, 22030, Turkey Beykent University, Istanbul, 34396, Turkey Abstract Small and medium sized enterprises (SMEs) are very important for economic development. If proper corporate governance strategies are implemented by SMEs, their growth opportunities are expected to increase. In order to understand the impact of proper corporate governance strategies of SMEs, public and non-public companies are compared. In this study, corporate governance scores for nine public and nine non-public SMEs are calculated. It is found that only three of the public SMEs and none of the non-public SMEs had adequate corporate governance score which is based on Capital Market Board of Turkey’s corporate governance principles about stakeholders. © 2014 Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license th © 2014 Published by Elsevier Ltd. Selection and/or peer-review under responsibility of the 10 International Strategic (http://creativecommons.org/licenses/by-nc-nd/3.0/). Management Conference Peer-review under responsibility of the International Strategic Management Conference. Keywords: SMEs, Corprorate governance, Public firms, Non-public firms 1. Introduction Small...
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...Solutions Manual COST ACCOUNTING Fifteenth Edition Charles T. Horngren Srikant M. Datar Madhav V. Rajan ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Acquisitions Editor: Ellen Geary ------------------------------------------------- Editorial Project Manager: Nicole Sam ------------------------------------------------- Editorial Assistant: Christine Donovan ------------------------------------------------- Project Manager: Roberta Sherman ------------------------------------------------- Supplements Project Manager: Andra Skaalrud ------------------------------------------------- Copyright © 2015 Pearson Education, Inc. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying...
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...To download more slides, ebooks, solution manual and test bank, visit http://downloadslide.blogspot.com Solutions Manual COST ACCOUNTING © 2012 Pearson Education, Inc. Publishing as Prentice Hall. SM Cost Accounting 14/e by Horngren © 2012 Pearson Education, Inc. Publishing as Prentice Hall. SM Cost Accounting 14/e by Horngren To download more slides, ebooks, solution manual and test bank, visit http://downloadslide.blogspot.com Solutions Manual COST ACCOUNTING Fourteenth Edition Charles T. Horngren Srikant M. Datar Madhav Rajan Upper Saddle River, NJ 07458 © 2012 Pearson Education, Inc. Publishing as Prentice Hall © 2012 Pearson Education, Inc. Publishing as Prentice Hall. SM Cost Accounting 14/e by Horngren This work is protected by United States copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. Dissemination or sale of any part of this work (including on the World Wide Web) will destroy the integrity of the work and is not permitted. The work and materials from it should never be made available to students except by instructors using the accompanying text in their classes. All recipients of this work are expected to abide by these restrictions and to honor the intended pedagogical purposes and the needs of other instructors who rely on these materials. Acquisition Editor: Stephanie Wall Editorial Project Manager: Christina Rumbaugh Editorial Assistant: Brian Reilly Project Manager, Production:...
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...INTRODUCTION Among all stakeholders, recognition is focusing increasingly on the need for sustainable corporate practices, given pressing economic, social, and environmental problems on a global scale. By conducting business in ways that promote ecological health and human welfare, corporations increase value over the long term for consumers, shareholders and others for both current and future generations. Business students need to be familiar with, and committed to, principles and practices of corporate sustainability. This short essay outlines several sources in the literature on corporate sustainability provided by the following organizations: International Organization for Standardization (ISO); Price Waterhouse Coopers (PWC); Federal Reserve Bank of St. Louis; International Federation of Accountants (IFAC); Ernst & Young; and Association of Certified Public Accountants (AICPA). An annotated bibliography follows the discussion, highlighting articles of interest in corporate sustainability literature. Finally, figures provided in an appendix illustrate key concepts from the discussion. ISO 26000:2010 International Organization for Standardization * Headquartered in Geneva, Switzerland. A global consortium of experts in multiple aspects of quality-related standardization representing industry, nonprofits, government, healthcare, and academia. * Formulated by technical committees, standards are released after extensive review and a minimum 75%...
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...Organizational Cultures The subject of organizational culture has become a popular subject for academic and practitioners alike (Schein, 1990). The increased popularity of the subject has provided an abundance of literature that is available today. The problem with the subject of organizational culture is the difference of opinions on different aspects of the subject among the different authors. The concept itself is not even well defined as different authors provide a variety of definitions that differ. The concept’s ambiguousness has caused different authors to come up with their own theories as to how culture starts in an organization. There also seems to be a variety of opinion how important culture and its ability to change are to an organization. In order to understand organizational culture the published literature must be studied and analyzed to see if there is consensus among the authors on different areas on the subject. The first aspect of this apparently ambiguous subject that will be investigated and analyzed are the different definitions that authors have used to describe organizational culture. Authors also have a difference of opinion on where the organization’s culture comes from and how it originates. Naturally the ambiguousness in defining and recognizing its origin have created different opinions on how important and useful culture is to an organization. The final section of this paper will also look at the ability for culture to change in an organization;...
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