Subject: Chief employee bonus: Conflict Interest. To: Ethics for Accountant From: Kyungwon Kwak Date: 03/07/2011 1. Ethics Case-Chief employee bonus
The WGN Company has a bonus arrangement, which grants the financial vice president and other executives a $15,000 bonus if the net income exceeds the previous year's by $1,000,000. Noting that the current financial statements report an increase of $950,000 in the net income, Vice President Jack Brickhouse asks Louise Boudreau, the controller, to reduce the estimate of warranty expense to $60,000. The present estimate of warranty expense is $500,000 and is known by both Brickhouse and Boudreau to be a fairly "soft" amount.
Possible raising questions: | · | Should Boudreau
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To protect privacy (to some extent), financial figures are often disclosed in ranges such as "$100,000 to $500,000" and "over $2,000,000".
RecusalThe imperative for recusal varies depending upon the circumstance and profession, either as common sense ethics, codified ethics, or by statute. For example, if the governing board of a government agency is considering hiring a consulting firm for some task, and one firm being considered has, as a partner, a close relative of one of the board's members, then that board member should not vote on which firm is to be selected. In fact, to minimize any conflict, the board member should not participate in any way in the decision, including discussions.
Third-party evaluationsWhat is typically done is to hire an independent firm (a third party), well-qualified to evaluate such matters, to calculate a "fair price", which is then voted on by the minority shareholders.
Third-party evaluations may also be used as proof that transactions were, in fact, fair ("arm's-length"). Codes of ethicsGenerally, codes of ethics forbid conflicts of interests. Codes of ethics help
As a member of management Clive Jenkins is responsible for boosting employee morale to ensure that company goals are met
1. Write a client outcome to help Mrs. Ross resolve the symptoms (i.e., defining characteristics). Refer to Section III (beginning on p. 119) of the Ackley and Ladwig text.
3. For a crime to be committed, the prosecutor must be able to prove a criminal intent and an overt act to carry out that intent. Jack and Mary agreed to rob a series of banks. Prior to beginning their bank robbery spree, they were arrested and charged with criminal conspiracy. What act did Jack and Mary do that justifies a finding that they committed the crime? Explain.
The treatment of conflicts of interest and other ethical dilemmas that may arise in investment decisions.
Mr. Hugh Tudor (55 yrs) is a well-known person in Milville, where he has been living for 30 years. He is involved in lot of social activities and has a reasonable pension and savings. He is becoming restless in his retirement and shows interest in investing in The Leeds Livery, local British pub in Milville, which could provide him with more challenges. While discussing this matter with his friend, he found out that the pub has great potential to perform well as it once exceeded the profit percentage of the industry. Mr. Tudor is in the process of exploring this opportunity but still has several questions rising in his mind.
JJ has complained on behalf of the performance measurement system because currently his bonus is based off of production cost being less than 43 percent of sales. JJ believes that the production facility is operating as efficiently as, if not better, than it has before the expansion. Due to this performance measurement JJ’s ownership when from 25 percent to 8 percent and he is losing bonuses and annual dividends.
Functional magnetic resonance imaging (fMRI) technology would be best reveal the location and extent of damage to Tim’s brain produced by his
This paper will first discuss briefly what ethics are and provide the definition for an ethical issue. An ethical leadership issue is identified and explained for this author’s practice area. We will then identify and discuss key strategies for leadership that are pertinent to the ethical issue. Next, empirical evidence which supports the strategies discussed will be analyzed. Then, the impact and importance of the strategies will be stated. The final step will be to provide a conclusion to the reader that summarizes the content and strategies.
The focus of this paper is case management. Case management has evolved into a diverse profession which includes many disciplines and is exercised in many settings. Case management involves the process of coordinating multiple services on behalf of clients and has been practiced now for several decades. Many disciplines have engaged in case management and identify themselves as case managers. Case managers work with many populations and settings and play an important role in today’s society. The following analysis explores how case management developed, how it is defined, its components, and how it relates to other nursing care delivery models. All these aspects are reviewed with the purpose to show the importance of case management
We are providing below the assumptions and other calculations we used while computing the WACC and the cash flows.
Diworth, J. Perterson & Seligman, (2004). The Ethical Importance of Conflicts of Interest: Accounting and Finance Examples. Business & Professional Ethics Journal, 3(1), 25-40.
Nurses are faced with ethical issues and dilemmas on a regular basis. Nurses must understand his or her values and morals to be able to deal adequately with the ethical issues he or she is faced with. Some ethical issues nurses are exposed to may be more difficult than others and the ethical decision making process is learned over time.
Finally, in order to complete a more accurate comparison between the two projects, we utilized the EANPV as the deciding factor. Under current accepted financial practice, NPV is generally considered the most accurate method of predicting the performance of a potential project. The duration of the projects is different, one lasts four years and one lasts six years. To account for the variation in time frames for the projects and to further refine our selection we calculated the EANPV to compare performance on a yearly basis.
The ethics function is owed by the head of the organization because this is who acts as the primary example for employees to follow (Ruddell, 2004).For this reason it will be operated out of the executive office (Ruddell, 2004). If someone is named to assist in day to day duties, this person is simply helping to implement the leader’s plan (Ruddell, 2004).No one in the organization is outside of the ethical code of conduct (Ruddell,
In this paper I am going to identify some the legal and ethical issues in My Sister’s Keeper. Some of those issues include emancipation of a minor, genetic engineering, and limited termination of parental rights. I will be giving my opinion on these matters also.