REVIEW OF ACCOUNTING ETHICS: HEALTHSOUTH CORPORATION SCANDAL Dannie Lover Professor Seedgrass Financial Accounting South University October 9, 2013 THE ORGANIZATION In 2003, the Securities and Exchange Commission (SEC) charged HealthSouth Corporation, the nations’ largest provider of outpatient surgery, diagnostic and rehabilitative healthcare services, and its Chief Executive Officer and Chairman Richard M. Scrushy with a massive accounting fraud. Scrushy, along with several
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Matt Steelman Journal Reflection Paper #1 Out of all the readings I’ve read thus far in Accounting Ethics, the one that struck me the most was the piece on the Cheating Culture, titled ‘Whatever It Takes’. It paints a picture of how the wealth gap has increasingly divided the classes in America. The excerpt was inspired partly by an English scholar named James Bryce, who traveled to America in the late 1800’s, and it paints the picture of an America that is vastly different than the America
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Accounting Assignment Wu Rong 1217651 Tutor: Ken Falzon A. In my opinion, the principal concerns of the author are about the existing accounting decisions made by companies does not match the accrual accounting method made from generally accepted accounting principles (GAAP). Companies have various kinds of ways to calculate their earnings by using estimates, therefore, it would lead to different kinds of results after estimating. Hence, there are more and more accounting scandals such as
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organization. Working for the company may develop one into an instrumental entity. With that concept, the author introduces that working as an accountant for the company creates the nature of socializing and individualizing forms of accountability. In accounting, the author says that an individualizing form of accountability in hierarchical systems powerfully strengthens the individual to achieve success. This defines accounting’s central value (profit and rate of return on capital). It is associated with
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Acct 202-01 ETHICS: BUSINESS AND MANAGERIAL 1. List the relevant facts. -Janice is a highly paid top executive in charge of research and development. -John is her underpaid assistant that always has more than adequate evaluations, but is still underpaid -John designed a software package that addresses major concerns in the company and shares it With Janice in hopes of receiving a promotion or raise. -Janice’s boss asked her to design
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------------------------------------------------- Professional and personal ethics- should there be a difference? First and foremost I believe it is imperative that a definition for both person and professional ethics is established and then the question of whether they should differ can be addressed more comprehensively. So firstly, what are personal ethics? We all have them but so many people seem to be unsure as to what they really are. "Ethics is a code of values which guide our choices and actions and
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Lucy Spheroid is the partner on the engagement of Juggyfroot, a global manufacturer of pots and pans. Ricardo Rikey is the managing partner of the office. Fred and Ethel are the two members of the firm that make final judgments on difficult accounting issues especially when there is a difference of opinion with the client. All four are CPAs. Ricardo Rikey is preparing for a meeting with Norman Baitz, the CEO of Juggyfroot. Rikey knows that the company expects to borrow $5,000,000 next quarter
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Differences in Business Forms Angie Anderson University of MN-Crookston The purpose of this paper is to discuss the formation of an accounting firm with another colleague. I will discuss the various types of business structures of an accounting firm and conclude by giving my reasons as to the type of business I will form. Partnership In a partnership, each person contributes in all aspects of the business; including money, property, and all employees of the business. The partners share
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persuasion, his father sent him to a local Pietist college to prepare for the ministry. Kant’s inner life was as dramatic as his outer life. He renounced the external and emotional side of religion. In his search for the round of the validity of ethics, Kant’s employed the same method by which he establishes the ground of the certainty of science. According to him, a valid moral principle must be independent of the empirical data of morality, if is to be binding upon all men. In short, a genuine
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The person who will suffer negative effects if not complying with Gena Schmitt’s instructions would be Riverside Bottling Company. The reason that Riverside Bottling Company would suffer is that they would not meet the requirements of the cash account balance being maintained it $200,000 or more and thus default on the loan agreement. Also this would possibly result in higher loan interest rates being applied by the bank to the loan with Riverside Bottling Company. However, the person who would
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