always believe that one of the most important characteristics of a successful business is ethics. In performing accounting and financial services for private college and public college, in your opinion, should we use the same set of ethical standards?
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- As a future Chartered Accountant, member of a board of director or shareholder, you will ensure that the company you are working for/ own applies good corporate governance principles, which includes responsible and ethical practices. As a current Financial Accounting 132 student, what responsible and ethical practices can you implement within your personal life and within your academic studies? Give four examples.Choose someone from the business or accounting world who you think is an authentic leader and explain why you believe that to be true.As future professional accountants, what is your role in promoting and achieving sustainability and to sustainability reporting while describing the importance of corporate governance and board of directors' function. In relation What will you do if you face an ethical dilemma, and must compromise your values?
- What are some of the benefits to obtaining a degree in accounting? What is the difference between a career in public accounting and private accounting? What are some of the traditional careers of accounting graduates? What new areas are accountants expanding into?He talked about the importance of accounting in economic activity, explaining its most important functions and the relationship of accounting as a science and as a profession with business administration.Issue: In the post-Enron environment, and with the enactment of the Sarbanes-Oxley legislation, many firms are proactively portraying themselves as being “ethical.” Ethical behavior is, for example, part of the Corporate Social Responsibility movement. This behavior includes many dimensions, from the ethical treatment of employees and the environment, to ethical financial reporting. Academic research has found a positive correlation between a firm’s reputation and its financial performance. Questions to be Answered: Do you feel that strong ethics makes good business sense? Why do you think that there is a positive correlation between ethical behavior and successful corporate financial performance?
- What is the role of accounting and accountants? Include answers to the following two questions in your explanation: What is the difference between financial and managerial accounting? What is the difference between public and private accounting? Provide specific examples from your experience and/or this week's readings to support your ideas.When discussing and evaluating professional ethics, it is essential to understand the purpose, terminology, and repercussions of professional misconduct. The American Institute of Certified Public Accountants (AICPA) code of professional conduct is the gold standard for defining professional conduct in accounting; it is therefore important for business professionals to be familiar with. In this discussion, you will explore one principle in depth and discuss it and others with your peers. First, select one of the following principles of professional conduct to examine in the AICPA Code of Professional Conduct document: Responsibilities Public interest Integrity Objectivity and independence Due care Scope and nature of services Then, for your initial post, reflect on what appropriate practice of your selected principle would look like in the field, and also on some potential examples of violations of the principle. Use the following questions to help guide your reflections: How would…Ethical conduct and professional judgment each play important roles in the accounting process.a. In general terms, explain why it is important to society that people who prepare accountinginformation act in an ethical manner.b. Identify at least three areas in which accountants must exercise professional judgment, ratherthan merely relying on written rules.
- Directions: Please select the appropriate answer on the statement below;T - If the statement is trueF - When the statement is false or part of the statement is false A public accounting firm is believed to have fulfilled its responsibility to provide services in accordance with professional standards because it joins a professional society that encourages the implementation of a code of ethics.As an accounting student, how do you practice the four core values of the university, and the five fundamental principles of the Code of Ethics of the profession? Answer with at least three sentences.Four Core Values: academic excellence, creativity, and social involvementHow do you assess at what stage of moral development in Kohlberg’s model you reason at in making decisions? Do you believe your level of reasoning is consistent with what is expected of an accounting professional? How does the stage you indicate relate to the findings of research studies discussed in this chapter about moral reasoning in accounting?