In June of 2001, Jeffrey Skilling was referred to as the “Number 1 CEO in the entire country” and the company that he represented, Enron Corporation, was considered to be “America’s most innovative company. A short Six months later, the company filed for bankruptcy and took billion worth of shareholder money with them. The downfall of the Enron Corporation in 2001 had far reaching effects that are still felt to this day. Employees, shareholders, auditors, executives, the public and many other stakeholders
Words: 1945 - Pages: 8
Effect of Unethical Behavior Article Analysis ACC/291-Principles of Accounting II June 24, 2013 Dale Wilson Having the correct accounting information in a financial statement gives a business owner certain advantages, such as information on financial transactions. If a business owner has information on when the sales or expenses are increasing or decreasing, he can make decisions that can benefit the company’s bottom line. The same cannot be true if he does not have accurate, or reliable
Words: 974 - Pages: 4
integrity carries costs. For example, deceptive business practices may harm a company's standing in the community, decrease employee productivity, reduce customer loyalty, build resentment among employees, increase the likelihood of further unethical behavior by employees, and cause scrutiny by government agencies. Although the costs of some of these consequences are difficult to quantify, there is no doubt that they can be substantial. Evaluate chosen strategy King and Spalding is a legal firm
Words: 1270 - Pages: 6
ACC291 Effect of Unethical Behavior Article Analysis Ethics has long been a word that has several different meanings to different people. With most it means what “should” be done in various situations. It does not necessarily mean that it is illegal not to do what it considered ethical. Throughout history people have tried to justify the things they have done to make it seem as they had the best interest of those around them at heart. Unethical behavior can be exhibited in many areas of our lives
Words: 555 - Pages: 3
Effects of Unethical Behavior Article Analysis ACC/291 July 8, 2012 Effects of Unethical Behavior Article Analysis Ethical practices and behaviors are different for everyone. In order to identify what might lead to unethical practices and behaviors in accounting, it is necessary to examine who is in control. Some individual may look at what can be done versus what are legally acceptable accounting principles and behaviors. The Sarbanes-Oxley Act of 2002 was enacted by United State
Words: 388 - Pages: 2
yet these standards cannot be identified with religion because if they were, they would have only applied to religious people (Manuel et al, para. 5). Finally, saying that ethics are standards that a society set was proved wrong as the standards of behavior in a society can diverge from ethics, considering Nazi Germany which was a society that became morally corrupt (Manuel et al.). This was what ethics are not. Then, what are ethics? Ethics are the well founded standards that are backed up by consistent
Words: 3013 - Pages: 13
Review of Accounting Ethics Review of Accounting Ethics Dr. ACC 557: Financial Accounting May 22, 2013 Table of Contents 1.0 Corporate ethical breaches in recent times. 3 2.0 Accounting ethical breaches and their impacts 3 2.1 The Scandal of Enron 3 3.0 Organizational ethical issues and the management failure 5 4.0 Breach of the accounting practices and its impacts 5 5.0 Recommendations by the CFO 6 6.0 References 8 1.0 Corporate ethical breaches in recent times. Ethics is an important
Words: 3860 - Pages: 16
When a company makes a strategic decision it is important to evaluate the impact of the ethical consequences toward the company and the stakeholders. Often a company will make a strategic plan based on profit; however, social responsibility looks outside of profits and determines the effects on all stakeholders including customers, environment, and society. In addition, the strategic decision should also be based on the code of ethics set forth by the organization. Furthermore, when determining
Words: 1047 - Pages: 5
needs, by being a responsible global citizen that makes a difference, and maximizing return to share owners while being mindful of their overall responsibilities (Ferrell). While Coca-Cola’s vision statement may sound ethical, they have had several unethical issues come about in the past decade. According to Ferrell, in the early 2000’s Coca-Cola was involved in racial discrimination, misrepresenting market tests and manipulating earnings, and disrupting long-term contractual arrangements with distributors
Words: 2304 - Pages: 10
organizational behavior. In this paper, I would be discussing the deteriorating ethics and values in organizations. I would begin with elaborating what ethical culture means, then taking it over to highlighting its need, pondering over the reasons -‐ so as to why unethical culture prevails
Words: 2639 - Pages: 11
