Ethics is the study of morals and systems of morality, or principles of conduct. The study of ethics is concerned with the right or wrong and the shoulds and should nots of human decisions a…Full description
SHORT ASSIGNMENT ON ETHICAL ISSUES
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This paper is based on the ethics of research writing. Plagiarism means stealing of ideas or thoughts or concepts of other person as your own without quoting or citing or referencing them. Representing other person thought as your own original work i
Ethical-issues-in-psychology-pdfFull description
This essay, authored by me and my colleague Ron Garrett, discusses the ethical issues that software development companies face, and it illustrates how software development companies can reso…Full description
hey all!! i was given an assignment on ethical issues in transportation industry.. it was then dat i found dat very little material was available on this topic.. on net as well as in boks.. …Full description
hey all!! i was given an assignment on ethical issues in transportation industry.. it was then dat i found dat very little material was available on this topic.. on net as well as in boks.. so.. af...
Ch14 Emerging Issues in Accounting and AuditingFull description
Provides Provides fair and accurate reporting of the financial financi al position of a business
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Ethical issues Reporting income, falsifying documents, allowing or taking questionable deductions, illegally evading income taxes, engaging in frauds etc
Fr aud aud
in financial statement can be committed in 5 ways:
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Fictitious
revenue-re revenue-revenues venues not actually earned
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Fraudulent Timing
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Concealed liabilities and expenses
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Fraudulent
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Fraudulent
differences
disclosures or Omissions
asset valuation-false statement of the inventory available
Types
of Accounts Accounts
Financial Accounts
>company uses to report to their shareholders
Internal Management Accounts
>shows the internal operations of the business and its i ts financial activities
Role
of Accountants Accountants
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To provide informatio inf ormation n to the th e new investors i nvestors
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2 types of accountants
Accountants employed by the or gn gn >takes care care of the internal management accounts of various depts
2
types >Management >Management accountant` formulating policies ` planning and controlling the activities of o f the employees ` decision making ` disclosure to shareholders etc >Financial accountant ` Economic information to the investors, employers, suppliers, outside people involved involved in the business etc `
Accountants in pr ofessional ofessional pr actice actice provides 2 types of accounting service ser vice provides 1.T 1.The auditor shareholders to to audit a particular p articular - Appointed by shareholders company - Duties include: to give an accurate statement about the state of affairs objectives of the Companies Act to meet the objectives th e to be reasonably skillful and careful in identifying the true nature of accounts
2. Accountants
in r elated elated services
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Offer services in different fields like:
Tax services ser vices
Management consultancies
Insolvency services
Environmental Environmental audits
The
Ethical Audit
Main purposepurpose- check the the actions actions of a firm firm Objectives `
Assess the bus. structure and procedures, systems and policies
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Whether busi. Activities comply with the standards
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To identify the way in which it does business
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Evaluate whether mgmt has relevent infor. in running the busi.
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To help busi. undergo major alterations like restructuring
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To identify the training necessary for the employees
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Establishing ethical conduct of business to attract valuable investments
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Establish code of conduct
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Helps the shareholders to evaluate the performance of the directors and vice versa
Ethical issues in Finance Impor tance tance of Financial Statement Steps to be taken by by the management for tr ue, ue, fair and r eliable eliable mgmt accounts: ` Determining the key key elements of the business like the objectives and see how they are defined and measured ` Making sure that the funds f unds are allocated to differ dif ferent ent activities on the basis of their importance ` Frame rules that have a positive effect on business activities
