has decided to adopt the balanced scorecard. The balanced scorecard translates an organization’s mission and strategy into operational objectives and performance measures for four different perspectives. The President would like for the managerial accounting team to continue research and explain how to use a balanced scorecard to measure unethical behavior with EEC. First as the team is going to obtain research in how to transition to a balanced scorecard let us review the first part of the research
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Ethics test 3 Study Guide CH.7 Importance of finance & ethics- Pg. 233 Definition of Valuation- Pg. 234- A powerful tool in weighing options. The summarization of entire future scenarios into a single number that can help simplify complex decisions. Standards of accounting- Pg. 245 Strategies for stakeholders in regards to finance- Changing the reporting or classification for specific purpose/stakeholder. Making operational decisions based on their impact to financial statements
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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
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University of College. Secondly, you must become a member of the IMA. The third requirement is passing both part one and part two of the CMA exam. Lastly, you have to have two years of continuous professional experience in management accounting or financial accounting. (IMA, n.d., How Do I Enroll in CMA) Let’s discuss IMA fees associated for the CMA certification. There are several obligatory fees that differentiate with discounts for qualified members and professionals. If you are a qualified
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The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation enacted in response to the high-profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise. The act is administered by the Securities and Exchange Commission (SEC), which sets deadlines for compliance and publishes rules on requirements. Sarbanes-Oxley is not a set of business practices and does not specify how a business should
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The Price of Unethical Behavior The Price of Unethical Behavior The purpose of this paper is to evaluate unethical behavior of Tyco International executives and chairman by briefly summarizing the company’s historical scenario, the spending habits and loans made for those executives, the resulting outcome of the events, the punishment handed down from indictments and whether it was justified. In 1975 Dennis Kozlowski joined Tyco International and in 1992 was named the chairman and chief executive
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within the company and for themselves. All of them were ethically wrong, regardless of the details. These individuals violated many different ethical principles which lead them all to be charged with criminal offenses and jail time. Enron used an accounting method known as “mark to market.” With this practice, the price or value of a security was recorded on a daily basis to calculate the profits and losses. Using this method allowed Enron to count projected earnings from long-term energy contracts
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Ethical Culture Project PART 1: Enron displayed all four cultural dimensions which are: high-risk taking, outcome orientation, aggressiveness, and low/no people orientation as a company. Kenny Lay, who was the CEO and Chairman from 1985-2002, displayed high-risk taking during the Vahalla scandal. He had two oil traders, Louis Borget and Tom Mastroeni that would make bets for Enron on whether the price of oil would rise or fall. This is a risky market because you can lose ten times your original
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BUS 3061 Fundamentals of Accounting The Accounting Environment http://homeworkfy.com/downloads/bus-3061-fundamentals-of-accounting-the-accounting-environment/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) BUS3061- Fundamentals of AccountingThe Accounting EnvironmentResources • The Accounting Environment Scoring Guide. • APA Style and Formatting. • Writing
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Joel Goodwin Finance 324 Ethics Review Paper Howard W. Bolton August 30, 2006 Ethics Review Paper In many corporations due to the times changes, the competitive nature, and new innovative ideas to generate business, these corporations had no other alternative but to restructure their goals, objectives, and ethical plans. However, because of the adjustments not all companies chose the morally correct path. Instead many corporations
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