Ethics : Ethical And Ethical Considerations

1741 Words7 Pages
The idea of being ethical shouldn’t only play a role in business fields, but also in a normal person’s everyday life. Being ethical pertains to what one thinks is right and wrong. For some one thing may be right while for others that same thing may be wrong, it all depends on your own beliefs and morals. In the accounting world being ethical deals with morals and embedding trust into a company. For small business investors, creditors and managers being ethical is a simple way of staying out of trouble, and is easier to distinguish between right and wrong. WorldCom was one of the biggest telecommunication company that our world h as seen and also had one of the largest accounting frauds in history. WorldCom was a company that did not stay ethical in their ways of doing business. In accounting, the ethical consideration is honesty. You want to help your client to pay as little tax as possible, but you also do not want to cheat the government. In business, the ethical considerations are honesty, fairness, and quality. You want to make money by paying the lowest possible wages and producing goods as inexpensively as you can. But you also do not want to starve your employees, or produce shoddy goods that will give you a bad reputation. You also want to outsell your competition, without resorting to unfair business practices. According to the journal article An Analysis of Fraud: Causes, Prevention, and Notable Cases by Kristin Kennedy we see the development of WorldCom and
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