FIN301 week 3 assignment
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Feb 20, 2024
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Case Study: What’s Wrong with this Picture?
Jasmine Gallagher
University of Arizona Global Campus
FIN 301: Ethics For the Finance Professional
Instructor: Susan Gould
January 29, 2024
Introduction
Green Company has asked me to consult on designing an effective ethics communication and training program that will nurture ethical culture in the organization. The goal is to provide the employees of Green Company with a comprehensive understanding of the organization's expectations, values, and ethical behaviors. There have been some challenges and considerations that are needing careful analysis and strategic planning. The Green Company has given me about
a month to write a code of conduct for the company and a mission statement and prepare presentations for senior managers to give to employees. This paper will identify the problems presented by this case, explain why the corporate counsel has responded in this manner, define the ethical obligation of a consultant, and explain how to proceed in this case.
Identify the problems presented by this case based on what you know about
developing ethical cultures and programs.
Not being able to speak to any of the employees or the top senior managers is the biggest problem that I face. Not being able to speak to the employees poses a challenge in not being able to gather information on the types of ethical issues that are occurring, or be able to observe the culture of the company. The executive leaders are a big part of the company “how they behave can affect the entire organization's culture” (Trevino & Nelson, 2023). Being instructed to write a
code of conduct and mission statement without sufficient input could “result in a document that does not accurately reflect the company’s values” (Kaptein, 2011). In order to address this issue, it may be necessary to “gather information from other sources, involve high-level managers in the development process, and delay presentations until sufficient input has been gathered” (Weaver, et al., 1999).
Explain why you think corporate counsel responded in this way and what your response
will be, if any.
There are various reasons as to why corporate counsel responded the way they did. The first reason is maybe they are hiding something and do not want to find out. This essentially defeats the purpose of having me consulting for the company. Another reason is there is a possibility that the senior managers themselves just did not want to communicate and instructed the employees not to be talked to either as they did not actually want my assistance. In this instance, I would respond that it is crucial that I have the ability to communicate with any employee or person of management as it is an important part of the process to develop an effective ethics communication and training program.
Discuss how you will ensure that the ethics communication and training program
accommodates the diverse perspectives and experiences of employees from different
backgrounds, including considerations for diversity, equity, and inclusion (DEI)?
Organizations have each designed an ethics communication and training program. Diversity, equity and inclusion training programs teach employees at all levels to uncover, identify and correct for biases or prejudices that have kept people from underrepresented groups from being hired or promoted in the workplace. Getting these programs to be successful can often be difficult and take hard work. Implementing things like “developing norms of cooperation and collectivistic norms, where people are focused on the good of the group instead of their own individual needs, hiring transformational leaders who inspire people to achieve their
best, engaging in effortful cognition as a team: being thoughtful and open to new experiences,
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Related Questions
Please help me.
Thankyou.
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I Just need the direct answer no need explanation
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GP
You
Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.
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1. How can a position paper be an essential tool in bringing about societal change?
2. How would you ensure the credibility of information on the Internet which you decide to
use for your arguments in your position paper?
3. Which came first: the hen or the egg? Defend your stand.
4. What should you do if the format of reports you learn in school varies from the
institutionalized format of reports you encounter in the workplace?
5. Why should you care to uphold ethical considerations as you gather data or information
from respondents when all you need is plain results?
6. Considering the impact of the pandemic on the mode of education today, what most
important reflection or lesson about life have you imbibed which you think you can bring
with you to the workplace later on?
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Acting and Reporting on Sustainability
Sustainability and the environment are topics of increasing importance in business and society today. Locate an article that profiles an organization from one of the sectors we have studied in this course (governments, not-for-profit organizations, and colleges or universities) and how that organization is addressing and reporting their activities related to sustainability.
What can you learn about the organization’s commitment to sustainability from their financial statements and reporting? (Note: This may require more research than just one article.) Compare your findings to those of your classmates. What conclusions can you draw from the information shared?
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What Financial Perspective Objectives and Initiatives should I develop when the 3 preceeding perspectives are as follows:CustomerCustomer Satisfaction: Achieve high customer satisfaction scores by ensuring a consistent pattern of positive customer experiences at all customer touchpoints whether person to person, through voice communication, text messages, or over the internet.Internal Business ProcessDraw customers to our channels and streamline the fulfillment process to improve service speed and accuracy.Learning and GrowthDevelop a competent and motivated workforce to drive a customer-centric culture
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WHAT IS THE IMPORTANCE OF THIS
Throughout all business dealings, uphold high ethical standards.
Create a welcoming work environment for your staff.
Goods and services of high quality should be offered to customers.
Continuously innovate and improve the operations of the organization.
Communicate honestly and openly with all stakeholders.EXPLAIN EACH BULLET
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6
Advisors need to balance their time between
researching very specific investments
seeking new clients
staying current on the news and economy
outsourcing back office tasks
justifying fees to clients
and
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Recommended Implementation Process
Please do the following:
Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career.
Use the Internet or Strayer University Library databases and Internet, to select and review a firm that has multiple lines of businesses. For example, review the FedEx Corporation to see how it is a multiple-line business organization.
You reviewed the FedEx Corporation's 2019 annual report and focused on the detailed accounting information. In this week's reading, Lin demonstrates that successful implementation of the shipping company's financial accounting information management systems must go through three steps; implementation of management system module; implementation of financial accounting function; and implementation of management accounting function.
Review the recommended implementation suggested by Lin in Design and Implementation of…
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Answer multi choice question in photo please
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What is the best strategy to improve U.S. business ethics?
Multiple Choice
Ethics must be taught in every business school around the globe.
Congress must pass an ethics bill.
Company leaders should adopt and support a corporate code of ethics.
A company's suppliers must be thoroughly Investigated for ethical violations.
arrow_forward
44-Creating a good public image is vital for the organizations and one of the ways is to work closely on corporate social responsibility in relation to the risk management of the organization. To achieve this goal the organization must pay attention in
O a. All of the options
O b. Providing financial and non-financial information
O c. Providing opportunities for stakeholders to develop
O d. Operating within societies by keeping the sociocultural norms
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Identifying ethical standards
The Institute of Management Accountants’ Statement of Ethical Professional Practice requires managerial accountants to meet standards regarding competence, confidentiality, integrity, and credibility. Consider the following situations. Which standard(s) are violated in each situation?
a. You tell your brother that your company will report earnings significantly above financial analysts’ estimates.
b. You see others take home office supplies for personal use. As an intern, you do the same thing, assuming that this is a “perk.”
c. At a company-paid conference on e-commerce, you skip the afternoon session and go sightseeing.
d. You failed to read the detailed specifications of a new accounting software package that you asked your company to purchase. After it is installed, you are surprised that it is incompatible with some of your company’s older accounting software.
e. You do not provide top management with the detailed job descriptions they requested…
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Questions:
1. Define the following:
a. Management consulting
b. Consulting art
*e. Integrity
d. Objectivity
e Competence
f. Full scope engagement
K. Special study engagement
h. Analytical approach and process
i. Engagement program
j. Post-engagement follow up
2. Why does an organization need the services of an MAS consultant even if everything
seems all right in its operations?
3. What are the distinguishing characteristics of MAS engagements? Explain each.
4. What are the advantages of a CPA over members of other professions in rendering
management advisory services or consulting work? Explain.
5. Enumerate the practice standards in MAS and explain each.
6. Give at least four provisions of the Code of Professional Ethics for CPAS which
must be observed by those engaged in MAS. Explain each.
7. The CPA should provide for client participation in MAS. Explain.
8. Enumerate the different phases in the analytical approach and process and explain
each.
9. What are the different stages in…
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1.Explain why businesses need ethics programs and list their minimum requirement.
2.Describe the role of codes of ethics in identifying key corporate risks.
3. Review the factors in successful ethics training and goals.
4.Explain the ways ethical standards are monitored, audited, and enforced.
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Identifying ethical standards
The Institute of Management Accountants’ Statement of Ethical Professional Practice requires managerial accountants to meet standards regarding competence, confidentiality, integrity, and credibility. Consider the following situations. Which standard(s) are violated in each situation?
You tell your brother that your company will report earnings significantly above financial analysts’ estimates.
You see others take home office supplies for personal use. As an intern, you do the same thing, assuming that this is a “perk.”
At a company-paid conference on e-commerce, you skip the afternoon session and go sightseeing.
You failed to read the detailed specifications of a new accounting software package that you asked your company to purchase. After it is installed, you are surprised that it is incompatible with some of your company’s older accounting software.
You do not provide top management with the detailed job descriptions they requested because you fear…
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TAKING IT TO THE NET G1
BTN 18-3 Managerial accounting professionals follow a code of ethics. As a member of the Institute of Management Accountants, the
managerial accountant must comply with standards of ethical conduct.
Required
1. Read the Statement of Ethical Professional Practice posted at IMAnet.org. (Under "Career Resources" select "Ethics Center," and
then select "IMA Statement of Ethical Professional Practice.")
2. What four overarching ethical principles underlie the IMA's statement?
3. Describe the courses of action the IMA recommends in resolving ethical confilicts.
Activate Windows
Go to Settings to a Page 6
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Write an essay of the new roles of management accountants in accommodating to the current and
future business environment premised on digital economy and beyond. The essay should outline,
explain, and analyse the business environment within which management accountants would be
adapting, and how they (i.e. management accountants) would be positioning themselves in the
future.
In writing your essay, please observe that you need to write between 500 to 750 words
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Need help with question 9 & 10 only. Question 8 already answered
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THEORY PROBLEM
Explain why accounting students should study Accounting Information Systems?
Explain the Value Chain and also explain how Information Technology plays an important role in the Value Chain.
Briefly describe the types of users of the SIA and what are the benefits of the output of the AIS for their work or profession?
One of the characteristics of useful information is that it must be timelines and complete. Which is more important, timely but incomplete information, or complete information, but too late? Give an example!
Briefly describe the purpose of internal control and provide an example of an internal control application for that purpose!
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Refering to case study 2 Fortunesareus Ethical Scenario. How can these below question be addressed.
1. What are the readily identifiable ethical issues for your decision?
2. Who are the key parties who can influence, or will be affected by, your decision?
3. What fundamental ethical principles for accountants are most applicable and is there an apparent conflict between them?
4. What would you do?
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SEE MORE QUESTIONS
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Pkg Acc Infor Systems MS VISIO CD
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ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Related Questions
- Please help me. Thankyou.arrow_forwardI Just need the direct answer no need explanationarrow_forwardGP You Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.arrow_forward
- 1. How can a position paper be an essential tool in bringing about societal change? 2. How would you ensure the credibility of information on the Internet which you decide to use for your arguments in your position paper? 3. Which came first: the hen or the egg? Defend your stand. 4. What should you do if the format of reports you learn in school varies from the institutionalized format of reports you encounter in the workplace? 5. Why should you care to uphold ethical considerations as you gather data or information from respondents when all you need is plain results? 6. Considering the impact of the pandemic on the mode of education today, what most important reflection or lesson about life have you imbibed which you think you can bring with you to the workplace later on?arrow_forwardActing and Reporting on Sustainability Sustainability and the environment are topics of increasing importance in business and society today. Locate an article that profiles an organization from one of the sectors we have studied in this course (governments, not-for-profit organizations, and colleges or universities) and how that organization is addressing and reporting their activities related to sustainability. What can you learn about the organization’s commitment to sustainability from their financial statements and reporting? (Note: This may require more research than just one article.) Compare your findings to those of your classmates. What conclusions can you draw from the information shared?arrow_forwardWhat Financial Perspective Objectives and Initiatives should I develop when the 3 preceeding perspectives are as follows:CustomerCustomer Satisfaction: Achieve high customer satisfaction scores by ensuring a consistent pattern of positive customer experiences at all customer touchpoints whether person to person, through voice communication, text messages, or over the internet.Internal Business ProcessDraw customers to our channels and streamline the fulfillment process to improve service speed and accuracy.Learning and GrowthDevelop a competent and motivated workforce to drive a customer-centric culturearrow_forward
- WHAT IS THE IMPORTANCE OF THIS Throughout all business dealings, uphold high ethical standards. Create a welcoming work environment for your staff. Goods and services of high quality should be offered to customers. Continuously innovate and improve the operations of the organization. Communicate honestly and openly with all stakeholders.EXPLAIN EACH BULLETarrow_forward6 Advisors need to balance their time between researching very specific investments seeking new clients staying current on the news and economy outsourcing back office tasks justifying fees to clients andarrow_forwardRecommended Implementation Process Please do the following: Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career. Use the Internet or Strayer University Library databases and Internet, to select and review a firm that has multiple lines of businesses. For example, review the FedEx Corporation to see how it is a multiple-line business organization. You reviewed the FedEx Corporation's 2019 annual report and focused on the detailed accounting information. In this week's reading, Lin demonstrates that successful implementation of the shipping company's financial accounting information management systems must go through three steps; implementation of management system module; implementation of financial accounting function; and implementation of management accounting function. Review the recommended implementation suggested by Lin in Design and Implementation of…arrow_forward
- Answer multi choice question in photo pleasearrow_forwardWhat is the best strategy to improve U.S. business ethics? Multiple Choice Ethics must be taught in every business school around the globe. Congress must pass an ethics bill. Company leaders should adopt and support a corporate code of ethics. A company's suppliers must be thoroughly Investigated for ethical violations.arrow_forward44-Creating a good public image is vital for the organizations and one of the ways is to work closely on corporate social responsibility in relation to the risk management of the organization. To achieve this goal the organization must pay attention in O a. All of the options O b. Providing financial and non-financial information O c. Providing opportunities for stakeholders to develop O d. Operating within societies by keeping the sociocultural normsarrow_forward
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SEE MORE QUESTIONS
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Recommended textbooks for you
- Pkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE L
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L