Ethics and Conceptual Framework Paper

The conceptual framework is an attempt to provide a metatheoretical structure for financial accounting. SFAC No.3 defines 10 elements of financial statements. It is obviously a resolution of the definitions presented in the discussion mem for the conceptual framework project. Elements are what accounting professionals measure and the attributes is about how to measure. Definitions can be helpful to the financial statements which have been formulated in order to help professionals to specify the qualification are. Also, the definitions must be expressed in the metatheoretical structure.

The client Suzanne is a seven year old girl placed in a treatment center for emotionally disturbed children. This center helps children ages six through twelve years old. Suzanne has been diagnosed with an attachment disorder and has been placed in a group home for two years. There are two types of attachment disorders, attachment and reactive attachment (Smith, 2014). She has been meeting with a facility caseworker weekly for the last eight months. Her three year old sister, Cindy, is also placed in the facility with her. Parental rights are currently being processed to be terminated. The caseworker is looking into alternative long-term placement for the sisters. Each sister has a

In the wake of accounting malpractices across several companies in the United States such as Enrol Corporation, Tyco International and WorldCom, there has been a lot of attention with regards to the accounting practices in the corporate sector. Specifically, the Sarbanes – Oxley Act (SOX) which was passed by congress in 2002, was aimed at addressing the situation by regulating fraudulent accounting practices such as bribery and wrong entries in books (Williams & Elson, 2010). While regulation has its own limits, it is hoped that ethical principles can go a long way in keeping accountants in check. To this end, a number of institutions formulated within the accounting professions such as the AICPA have come up with codes of conduct to guide the action of members and ensure that they act in a way that is morally right and in line with the profession.

As technological advances force globalization and unified standards upon the world of accounting, the understanding of ethical systems and their role on business becomes a necessity. The goal of accounting is to provide users with reliable and accurate information that is independent and complete. However, if accountants around the world are not subscribing to the same ethical standards and theories, then the urgency to unify standards and practices between U.S. GAAP and the IFRS are no longer significant. With ethical theories being extensive in nature they can result in different outcomes and justifications making them the highest priority in accounting. Required education and training on each system is necessary to understand flaws and contradictions

Corbin, J. (2012). ETHICAL TENSIONS AND DILEMMAS EXPERIENCED IN A NORTHERN UGANDAN SOCIAL WORK INTERNSHIP. Journal Of Social Work Education, 48(4), 817-836.

When defining what Ethical Theory is my first thought is morals. Morals principles affects the way people make decisions and the why people live their own lives. Ethics come from a Greek work ethos, and this means character, habits, customs and dispositions. The morals that Ethical theory will display in a person life, is living a good life for them and their families, knowing what is right in life and taking care of their responsibilities. Researchers, divides ethical theories into three basic groups, first group is meta- ethics, the second group is applied ethics and the last groups is normative ethics. Meta-ethics deals with origins and ethical principles. Applied ethics is related to controversial topic like politics or war. Normative ethics concerned with moral judgements of what is right or wrong. Reflecting back to meta-ethics is having morals judgments, morals allow people need morals and value to as a person. When a person realize what is important in determine moral judgment, and the ethical

Puffery is often described as meaningless or legal form of deceptive advertising that uses exaggerated or subjective claims that cannot be proven true or even false. Such as “The best" or "premier". For example Pizza chain papa John's had the slogan "Better Ingredients."

Paramedics, like all healthcare professionals, once they have made contact with the patient have a clear duty of care outlined in law to provide treatment to patients who require it (Clarke, Harris and Cowland 2012). However, the above case study outlines a patient who is refusing treatment after consuming large amounts of alcohol and an overdose of medication. Therefore, it is the aim of this assignment to assert how an attending paramedic can ensure the best possible outcome and treatment for the patient whilst adhering to the applicable legal and ethical frameworks imposed. In order to achieve this the assignment will commence by critically analysing how an ethical framework and ethical principles can and should be applied to both the above scenario and more generally in paramedic practice. From this understanding of the underlying principles the assignment will next examine both the legal and ethical standpoints surrounding capacity and consent and analyse how these should be applied to the scenario. This will then enable an inclusion of the relevant legislation and an analysis of how patient 's mental health needs should be considered whilst under the influence of alcohol. The assignment will conclude with an examination of the overarching legal obligation to provide a duty of care and the implications of breaching this duty by bringing in examples of Health Care and Professions Council (HCPC) hearings.

The Accounting profession is distinguished by the heavy demand placed upon its practitioner to adhere to laws, standards, regulations and best practices. Any failure to do so may result in financial loss, economic oversights and even legal penalties. As a result, it is incumbent upon the accounting professional to recognize and abide the external influences that help to define the field. Distinct political, economic and cultural factors converge to define practice within the accounting profession.

The profession of accounting has become spotlighted by the events in recent years including namely Enron. The ethical behavior of businesses is becoming increasingly scrutinized at every turn. Thus it is important to specify the nature of conducting accurate and ethically in accounting and how this can be of subsequent benefit to the company as well as the business world in the long run.

A conceptual framework can also lead to better understanding among accountants, auditors and users because all parties would be using a common set of definitions and criteria when interpreting company financial reports. The AASB’s Policy Statement 5 The Nature and Purpose of Statements of Accounting Concepts explicitly states the potential benefits of the conceptual framework as follows (paragraph 7):

Accounting conceptual frameworks are good examples of normative theories as they provide guidelines of what accounting steps should be taken and suggest what ought to be done in relation to accounting principles and practice. The International Financial Reporting Standards (IFRS) are principles-based

Baker Greenleaf was one of the Big Eight accounting firms. Daniel Potter was a highly ethical accountant that placed a lot of value on integrity. He was hired to work as an accountant for the firm. Baker like many other firms was faced with a dilemma that tested the firm’s ethical standings. Even though a firm may be faced with a difficult decision, the firm’s ethical standing helps determine the best ethical decision for each situation. To reach the best ethical decision it is best to use philosophical approaches in addition to the

The purpose of this essay is to address the definition of a conceptual framework (CF) for financial accounting and why it is needed. The CF can be described as a “coherent system of inter-related objectives and fundamentals that should lead to consistent standards that prescribe the nature, function and limits of financial accounting and financial statements” (FASB, 1976). This suggests that the CF has a very important role in attempting to maintain domestic and international standards of practice. The CF also provides structure to the process of creating financial reporting standards and ensures that standards are based on fundamental principles (Gore and

Firstly, conceptual framework helps IAS to initiate a detailed definition that facilitates discussion of accounting issues. The objective of general purpose of financial reporting and qualitative characteristics of useful financial information are some chapters contained in conceptual framework that really significant for IAS. However, to conduct precise and relevant definitions of these issues so that it is acceptable among the accounting users and importantly the information can reflect the economic reality are very crucial. Fortunately, with the existent of conceptual framework, IASB can really determine an entity’s economic value based on required information in financial reporting of an entity that was underlined by conceptual framework. According to (B.Sutton, et. al, 2015), the objective of conceptual framework support the information that reflects the economic reality of