Ethics in the Corporate World ACC 557 Financial Accounting January 26, 2014 In today’s society, it seems that most companies are out to chase the almighty dollar and have little to no concern for the repercussions of their actions. In this paper, we will address five aspects of the corporate world and the ethical breaches that have been made in the last few years. The company that we will look at for examples is WorldCom. WorldCom was one of the companies that led to the creation of the Sarbanes-Oxley
Words: 1447 - Pages: 6
Business ethics are a pivotal aspect in strategic business finance, or finance in general. Poor ethical practices and immoral acts have been conducted across many years by many individuals and businesses in the business world in regards to finance. This paper will focus on two of the more well-known ethical issues that occurred in the late 1990s and early 2000s, Enron Corporation and WorldCom. This paper will focus on the factors that led to the demise of the corporations, as well as the violations
Words: 1426 - Pages: 6
Business Ethics By Takeisha Bagley American Intercontinental University November 12, 2009 Abstract This paper will address current issues that organizations face when trying to control business ethics. Over time, business ethics and the U.S. government’s outlook on controlling unethical and illegal behavior have varied. Although business ethics has been discussed for several decades, it has only come to the forefront in the past several years. This has been especially true over the past
Words: 610 - Pages: 3
Ethical in accounting practice Ethics is a guideline for us to do what is right and what are wrong, but being unethical is not against the law, to be ethical in accounting practice there are 3 roles Trust, confidentiality and legal repercussions. Trust-Accountants must be worth trusting for understanding the law and legal aspects of the accounting issues. Confidentiality-In a company accounts would have the most information (client’s information, each colleague’s salary, company’s trading
Words: 1643 - Pages: 7
UNIT ONE INTRODUCTION TO CIVIC AND ETHICAL EDUCATION 1. INTRODUCTION 2. MEANINGS OF CIVICS AND ETHICAL EDUCATION The Notion of Civics The subject field of civics originates from the nature of human being itself i.e. from the natural behavior and level of interaction of human beings it self. One basic nature of human beings related with this statement is the fact that “man is a social animal” whose life is closely related to each other. Almost all instincts, demands and progresses of human beings
Words: 43853 - Pages: 176
• Helps to keep Records Updated An Accountant can help the company to keep the records updated by keeping track on each and every transaction placed during a particular accounting period. And can also enhance the performance of the company by monitoring and reviewing the accuracy and the completeness of records of accounting and its related systems. An accountant can also maintain records of all employees of the company by keeping track on their performance and also can focus on timely processing
Words: 5754 - Pages: 24
this week, the accounting firm Arthur Andersen sealed its fate when a few partners in its Houston office decided to shred documents related to the collapse of one of its clients, Enron” (Agnes, 2011). Found out that Enron scandal had close relationship with the fraud of the accounting firm Arthur Anderson, “another problem whose effects are becoming apparent today — moral hazard in the audit industry” (Agnes, 2011). Business and society take into serious consideration about ethics and integrity standard
Words: 2314 - Pages: 10
the study In response to the growing need for moral accountants who possess ethical and reflective qualities; an ethics education program was developed based on ethics as a reflective, critical capacity. This paper aims to describe the impact of the program on reporting behavior. In the abstract of this article it states that the purpose of this study is to examine the impact of an ethics education program on actual behavior rather than hypothetical situations using a quasi-experimental design with
Words: 1069 - Pages: 5
Accounting Fraud at WorldCom WorldCom grew rapidly in the 1980-90s through its various inorganic acquisitions – the resultant was a corporation with a hotchpotch of diverse and unaligned cultures. Exacerbating the situation, the Management (including the Board of Directors and CEO Ebbers) did little,if anything, to address the multiplicity of deontological and consequential ethics coexisting at WorldCom. CEO Ebbers in fact called an internal effort to create a corporate code of conduct a “colossal
Words: 1067 - Pages: 5
Ethics and Moral Issues Judith Nelson University of Phoenix Professor Steve Fletcher January 10, 2011 What are the differences between ethical issues and moral issues? The difference between ethical issues and moral issues is that ethical issues are problems or circumstances which require a person or a business to make or choose between choices that must be assessed as right (ethical) or wrong (unethical). Moral issues on the other hand addresses private behavior based on strict
Words: 604 - Pages: 3
