……………………………………………………….4Introduction………………………………………………...…………………………………………5The importance of Ethics in Accounting…….……………………………………………………………………..6 Creative Accounting…………………………………………………………………………….…7 Accounting Scandals..……………………………………………………………………………………………………10 The Enron Scandal……………………………………………………………………………………..10 The WorldCom Scandal………………………………………………………………….…………..12The consequences of Creative Accounting……………………..…………………………………13Measures of Prevention……………………………………………………………………………………15Conclusion………………………………………………………………………
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rules of business ethics and would later pay which brought about their collapse by ethical failure. To avoid future failures towards business and personal tragedies we must understand that ethics failures equal business failures. The fall of Enron in an ethical standpoint affected stockholders, workers, families and about one billion in stock value for stockholders. Business ethics is basically concerned more towards how business institutions ought to be structured. Furthermore business ethics
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Reflective Journal 2 1. Reflection: I agree were the unit was very important because it gives us a clear understanding of many aspects that managers or organizations face in relation to nature , society and environment as a whole showing also the correct way to adapt and control the organization to achieve sustainability. Most of the information gained through on the course were decent in the context of learning were it gives us a clear understanding of the theories such as leadership in the
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she was a employee or not. The board then becomes a partner in the relationship and protecting the interests of the company and any possible ramifications and fall out. It appears that the bank funded her state department position that I think is unethical as she was moved there to protect their CEO. Did the bank help secure the second position or was that a position that Ms. Riza secured on her own? The raise in salary in the non
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Question No. | Answer | 1 | a. Well-developed equity market & dispersed ownership | 2 | c. Voluntary practices | 3 | a. Advertising | 4 | a. Monetary Policy | 5 | c. That portion of bank’s total cash reserves which they are statutorily required to hold with the RBI. | 6 | b. The Greenbury Committee, 1995 | 7 | b. Bank | 8 | d. Harshad Mehta scam, 1992 | 9 | b. Diffused Debt | 10 | a. Director | 11 | b. De Facto | 12 | b. Independent auditors | 13 | a. Ganguly Group |
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scenario. The supporting material for this discussion can be found at Harvard University’s 2011 lecture: Justice, What’s the right thing to do? as presented by Professor Michael Sandel8. To examine the elements of the case, we will inspect the unethical behavior of five key figures culpable in the “rise and fall of the small town saga of epic dimensions8”. John J. Rigas (Founder), his two sons; Timothy J. Riga’s (CFO), Michael J. Riga’s (VP of Operations), James R. Brown (VP of Finance) and Michael
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Ethical Issues in Business MBA 682 Jurtyne R. Youngblood May 10, 2014 When it comes to business many say business and ethics shouldn’t even be put together in the same phrase. Many believe that there just isn’t any ethics when it comes to business. “Neither young managers nor consumers believe top executives are doing a good job of establishing high ethical standards” (Bateman & Snell, p. 159). Recently Toyota’s announced a recall because of a technical fix for its sticky gas pedals
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Whistle Blower Whistle blowing can generally define as a process rather than an event (Near and Miceli, 2002). Whistleblower give the information of scam or the dishonest act of the company or other employer or other parties as well as the government. Whistleblower is a person or the entity making a protected act for illegal or inappropriate act. Whistleblower can be employees, customers or the general public. For an organization it happens to have an internal or external whistleblower. Most of
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Overview of the SEC Primitive economies are basically barter economies (goods and services traded for other goods and services), while in other mature economies, businesses are organized into proprietorships, partnerships, and joint venture. These types of closely held businesses, in which owners manage their own business, do not need external reporting of the results of operations. However, external reports have become essential with the increase in the size and number of business enterprises
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Introduction…………………………………………………………………………….. 3 Richard Scrushy Represented the American Dream…………………………………… 3 The Sarbanes-Oxley Act was enacted in 2002…………………………………………. 4 What caused the demise of HealthSouth?...……………………………………. 5 Characteristics of Unethical CEOs……………………………………………………… 6 Was Richard Scrushy narcissistic?.……………………………………………………. 7 Impact on Stakeholders………………………………………………………………… 8 Outcome and Fairness of Punishment…………………………………………………. 9 Conclusion……………………………………………………………………………... 10
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