FIN301 week 2 assignment
.docx
keyboard_arrow_up
School
University Of Arizona *
*We aren’t endorsed by this school
Course
301
Subject
Finance
Date
Feb 20, 2024
Type
docx
Pages
8
Uploaded by MasterMoonRam38
The Case Study: Voicing Your Values
Jasmine Gallagher
University of Arizona Global Campus
FIN 301: Ethics for the Finance Professional
Instructor: Susan Gould
January 22, 2023
Introduction
There are various ethical issues that arise in the financial industry. This particular ethical issue is about a trader named Pat who is under the influence and the decision to raise the issue further or not is in question. Pat is a very successful trader who has earned the firm a large sum of revenue and is respected by senior management. This could pose as it could affect the outcome of whether or not the issue would be taken seriously or not. This paper aims to look at how we can voice our values, define the primary ethical dilemma, how diversity plays a role, identify the affected parties and their rights, the consequences of my decision, defend the character and integrity, and alternative action. Voicing your values helps you learn how to effectively act on your values and ethical principles in the context of your professional responsibilities.
Do you raise the issue further?
Deciding whether to take this issue further is a question that should be taken into careful consideration. There are many factors that come into play when making this decision. Asking the
questions on what kind of consequences could happen, or will this be beneficial for the majority is very important. “As professionals, auditors we have a responsibility to act in the public interest
to provide objective opinions about the financial state of the organization—be free of conflicts of
interest, not misrepresent facts, or subordinate professional judgment to others” (Trevino & Nelson, 2021). Pat’s judgment is likely impaired due to the drug use, which could cause potential
conflict to the firm’s reputation and clients. The issue should be reported to the appropriate authority for further review.
How can you voice your values in this case?
It is important to uphold our values and principles. When it comes to Pat’s behavior I could confront him and address my concerns about his well-being and the potential impacts it may have on him and the firm. If the matter is not resolved I can then go to Steve who is Pat’s managing director and highlight the potential risks to the firm's reputation and stability. If the issue continues, evidence will need to be gathered showing that Pat is actively using drugs and that it is impairing his work. Once the evidence is gathered I could go to HR and inform them of Pat’s behavior. My goal is to address the issue responsibly and ethically, ensuring the well-being of all involved and the long-term success of the firm.
Define the primary ethical dilemma for the international organization or U.S. business or
financial sector.
The primary ethical dilemma is whether to report Pat’s drug use or not.. Pat’s use of cocaine could potentially have serious consequences for both him and the organization. “Employers bear a significant cost of substance abuse, including higher absenteeism rates and lower productivity” (United Nations Office on Drugs and Crime, and World Health Organization, 2018). This dilemma could be seen as an issue with following working standards and conditions, and protecting the interest of the company. The organization has a duty of care for the health, safety and well-being of its staff, contractors and the population in the areas in which it operates. The organization also has the responsibility towards the shareholders or the owners who have invested money and that they receive a fair return on the money they have invested.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
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?
arrow_forward
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
arrow_forward
CHAPTER SUMMARY Ethical issues in finance are important because they bear on our financial well-being. Ethical misconduct, whether it be by individuals acting alone or by financial institutions, has the potential to rob people of their life savings. Because so much money is involved in financial dealings, there must be well-developed and effective safeguards in place to ensure personal and organizational ethics. Although the law governs much financial activity, strong emphasis must be placed on the integrity of finance professionals and on ethical leadership in our financial institutions. Some of the principles in finance ethics are common to other aspects of business, especially the duties of fiduciaries and fairness in sales practices and securities markets. However, such activities as insider trading and hostile takeovers raise unique issues that require special consideration. Insider trading is prohibited because it involves trading of information not publicly available or…
arrow_forward
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…
arrow_forward
Case Study #2: Chapter 5 Business Analysis -
Harry, a friend of yours, is taking a course in economics and has become confused by some of the terminologies because of the way people commonly use the same words. The economics professor says investment occurs when companies buy equipment and build factories. Yet Harry has always heard people talk about investing as a method of saving when they put money in the bank or purchase securities. He's confused by these dissimilar uses of the word and has asked you to explain. After asking for your help, Harry happily states that there's one thing he does understand perfectly about what the econ prof says, and that is "savings equals investment." Since investing in stocks and bonds is also saving money, it's obvious that savings equal investment!
Write a brief explanation to help Harry out.
arrow_forward
i want accurate answer with proper explanation please no handwriting only typed answer
a. Make a list of all of the risks that TSLA (Tesla) is exposed to in its business and classify these risks into firm specific, sector wide and market wide buckets.
b. Looking at risk item in your profile list, consider how that risk will be viewed by managers, the average investor and the marginal investor and think of how each of them may view this risk and how they may try to manage that risk.
arrow_forward
select a “start-up” company in an industry of your choice and provide a brief summary description of the start-up company you chose and the goods or services it provides. 1. As a start-up company, identify three Credit Risks the company currently faces today or could face in the future. Explain in detail why these risks are a threat to the company. 2. What advice would you give to the CEO of the company to prevent or minimize these credit risks?
arrow_forward
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.
arrow_forward
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…
arrow_forward
CHAPTER 6. DERIVATIVES AND RISK MANAGEMENT Assume that you have just been hired as a financial analyst and consultant by Spy Family Inc., a mid-sized Texas company that specializes in creating high-fashion clothing. Because no one at Spy Family is familiar with the basics of financial options, you have been asked to prepare a brief report that the firm's executives can use to gain at least a cursory understanding of the topic. To begin, you gathered some outside materials on the subject and used these materials to draft a list of pertinent questions that need to be answered. In fact, one possible approach to the report is to use a question-and-answer format. Now that the questions have been drafted, you have to develop the answers. 1. What are financial options? 2. What are the two primary types of financial options? 3. What is a call option's exercise value? 4. What is the Black-Scholes option pricing model (OPM) the binomial model? 5. What are the five inputs to the Black-Scholes…
arrow_forward
QUESTION TWO (2)
a) You have recently been employed by Quantum Analytics as the chief risk officer.
Given the fierce competition within the financial sector, your institution's core
goal is to strategically: create, enhance, and preserve value. How do you help
your company achieve the above using risk management as a (i) Liability tool,
Santun
(ii) Opportunity Tool, (iii) Organization tool, (iv) Compliance tool, and (v)
Communication tool?
b) A trader enters to a long cotton
futures contract when the futures price is 50
cents per pound he contract is for the delivery of 50,000 pounds. How much
does the trader gao lose if the cotton price at the end of the contract is
i
48.20 cents per pound
51.30 cents per pound?
c) Explain carefully the difference between hedging, speculation, and arbitrage.
arrow_forward
Finance 500
In this assignment, the purpose is to tie into the key concepts and insights studied this term in this course. Reflecting on key principles, strategies, or tactics that were covered from the accounting and finance fields, students should relate the information to their career, company or industry of interest.
Demonstrate how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work environment (a project manager in design industry).
Share a personal connection that identifies specific knowledge and theories from this course.
Demonstrate a connection to your current work environment.
You should NOT, provide an overview of the assignments assigned in the course. The assignment asks that you reflect how the knowledge and skills obtained through meeting course objectives were applied or could be applied in the workplace.
arrow_forward
"Managers can do a number of things if they’re serious about encouraging ethical behavior"If you are an organization manager Telecom , explain how you will encourage your employees to behave ethically?
*Note explain in detail
arrow_forward
I Just need the direct answer no need explanation
arrow_forward
Please provide atleast 500 words
As a financial consultant, recommend to your corporate customer of internal hedging strategies through leading and lagging. Prove your recommendation with example.
arrow_forward
Suppose you are the chief financial officer (CFO) responsible for the financial statements of Philip Morris. What ethical issue would you face as you consider what to report in your company’s annual report about the cash payments? What is the ethical course of action for you to take in this situation?
Who are the stakeholder of this company?
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Related Questions
- 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?arrow_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_forwardCHAPTER SUMMARY Ethical issues in finance are important because they bear on our financial well-being. Ethical misconduct, whether it be by individuals acting alone or by financial institutions, has the potential to rob people of their life savings. Because so much money is involved in financial dealings, there must be well-developed and effective safeguards in place to ensure personal and organizational ethics. Although the law governs much financial activity, strong emphasis must be placed on the integrity of finance professionals and on ethical leadership in our financial institutions. Some of the principles in finance ethics are common to other aspects of business, especially the duties of fiduciaries and fairness in sales practices and securities markets. However, such activities as insider trading and hostile takeovers raise unique issues that require special consideration. Insider trading is prohibited because it involves trading of information not publicly available or…arrow_forward
- 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…arrow_forwardCase Study #2: Chapter 5 Business Analysis - Harry, a friend of yours, is taking a course in economics and has become confused by some of the terminologies because of the way people commonly use the same words. The economics professor says investment occurs when companies buy equipment and build factories. Yet Harry has always heard people talk about investing as a method of saving when they put money in the bank or purchase securities. He's confused by these dissimilar uses of the word and has asked you to explain. After asking for your help, Harry happily states that there's one thing he does understand perfectly about what the econ prof says, and that is "savings equals investment." Since investing in stocks and bonds is also saving money, it's obvious that savings equal investment! Write a brief explanation to help Harry out.arrow_forwardi want accurate answer with proper explanation please no handwriting only typed answer a. Make a list of all of the risks that TSLA (Tesla) is exposed to in its business and classify these risks into firm specific, sector wide and market wide buckets. b. Looking at risk item in your profile list, consider how that risk will be viewed by managers, the average investor and the marginal investor and think of how each of them may view this risk and how they may try to manage that risk.arrow_forward
- select a “start-up” company in an industry of your choice and provide a brief summary description of the start-up company you chose and the goods or services it provides. 1. As a start-up company, identify three Credit Risks the company currently faces today or could face in the future. Explain in detail why these risks are a threat to the company. 2. What advice would you give to the CEO of the company to prevent or minimize these credit risks?arrow_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_forwardIdentifying 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…arrow_forward
- CHAPTER 6. DERIVATIVES AND RISK MANAGEMENT Assume that you have just been hired as a financial analyst and consultant by Spy Family Inc., a mid-sized Texas company that specializes in creating high-fashion clothing. Because no one at Spy Family is familiar with the basics of financial options, you have been asked to prepare a brief report that the firm's executives can use to gain at least a cursory understanding of the topic. To begin, you gathered some outside materials on the subject and used these materials to draft a list of pertinent questions that need to be answered. In fact, one possible approach to the report is to use a question-and-answer format. Now that the questions have been drafted, you have to develop the answers. 1. What are financial options? 2. What are the two primary types of financial options? 3. What is a call option's exercise value? 4. What is the Black-Scholes option pricing model (OPM) the binomial model? 5. What are the five inputs to the Black-Scholes…arrow_forwardQUESTION TWO (2) a) You have recently been employed by Quantum Analytics as the chief risk officer. Given the fierce competition within the financial sector, your institution's core goal is to strategically: create, enhance, and preserve value. How do you help your company achieve the above using risk management as a (i) Liability tool, Santun (ii) Opportunity Tool, (iii) Organization tool, (iv) Compliance tool, and (v) Communication tool? b) A trader enters to a long cotton futures contract when the futures price is 50 cents per pound he contract is for the delivery of 50,000 pounds. How much does the trader gao lose if the cotton price at the end of the contract is i 48.20 cents per pound 51.30 cents per pound? c) Explain carefully the difference between hedging, speculation, and arbitrage.arrow_forwardFinance 500 In this assignment, the purpose is to tie into the key concepts and insights studied this term in this course. Reflecting on key principles, strategies, or tactics that were covered from the accounting and finance fields, students should relate the information to their career, company or industry of interest. Demonstrate how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work environment (a project manager in design industry). Share a personal connection that identifies specific knowledge and theories from this course. Demonstrate a connection to your current work environment. You should NOT, provide an overview of the assignments assigned in the course. The assignment asks that you reflect how the knowledge and skills obtained through meeting course objectives were applied or could be applied in the workplace.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
- Pkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE LPrinciples of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College