GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (G.A.A.P) GAAP is an international convention of good accounting practices. It is based on the following core principles. In certain instances particular types of accountants that deviate from these principles can be held liable. The Business Entity Concept:- The business entity concept provides that the accounting for a business or organization be kept separate from the personal affairs of its owner, or from any other business or organization. This means that the owner of a business should not place any personal assets on the business balance sheet.
What are the three problems that economists have noted with regard to command-and-control regulation? Command-and-control regulations offer no incentive to improve the quality of the environment beyond the standard set by the law. It also usually requires the same standard for all potential polluters which makes it inflexible. Lastly the command-and-control regulations are set by real-world legislators, so they are subject to compromises in the political process. 6.
Currently, Teletech employs a single corporate hurdle rate to all project proposals without consideration of the divisional segment from which it originates. However, this policy may distort the risk/return evaluation of investment opportunities. Since it is critical that management has
They possess the same fundamental rights, and the comparable interests of each person should count the same in calculations that determine social policy. Neither supposed racial differences, nor skin color, sex, sexual orientation, ethnicity, intelligence, nor any other differences among humans negate their fundamental equal worth and dignity. The event of credit card company provide the support to the hate guoup also reletion to the essay “ Legal to Censor, but Unwise” by Gabe Rottman who is a legislative counsel and policy adviser at the Washington legislative office. Rottman claims that Financial services companies, are ill-equipped to determine which groups should live or die in hard cases of controversial speech like “hate speech”. So, credit card companies should not decide to whether provide support to the group even it is hate group.
Alcoa’s management supported the ethical principle that no employees should leave work in a worse condition than when they arrived” (Lawrence & Weber, 2011). Alcoa showed they cared about being compliant with the U.S. Federal Sentencing Guidelines and the Sarbanes-Oxley Act and would never jeopardize employee safety for anything, not even money. This was relevant in the case when O’ Neill decided to terminate a manager who had continuous increased sales and
When a never event occurs, the first step must be to understand why it happened and seek to learn from it, not simply to apportion unfair blame to an individual. Failure to learn the lessons of a single never event or a prevented never event could be perceived as organizational failure on grounds of patient safety for which Board leaders, particularly the Chief Executive and Medical and Nurse Directors are accountable. On other hand,“…the causes of a patient safety incident cannot simply be linked to the actions of the individual healthcare staff involved. All incidents are also linked to the system in which the individuals were working. Looking at what was wrong in the system helps organizations to learn lessons that can prevent the incident recurring.’’(NPSA, 2009,
This directly states that an officer or a director,” Should avoid participating in any transaction or investment that conflicts with, or gives the appearance of a conflict with, the interest of the company. It’s important in maintaining ethics because a person who is in a management position must be devoted to one company. All decisions that are made are suspect to the integrity of the , company especially when it comes to the financial decisions. Another key area of The Cheesecake Factory’s code of ethical conduct that is of significant importance is in Article V, in the “Compliance with Company Policies and Procedures,” section that talks about confidential information. It is important for the success of any company, especially one as huge as The Cheesecake Factory that the confidentiality of information, especially for the third parties, be maintained.
Whose expert witness would you prefer to be and why? In this particular case the witness should accept the attorneys offer. It is the right decision with out question. The inventor is reclusive meaning he is withdrawn or secluded from the outside meaning this is his invention, his ideas, his hard work, and his case. He has the right to do whatever he pleases with his own invention, he is not under any circumstances to sell it to savvy investors.
It is so important to note that because no such programs or culture exists, there seems to be no communication being conducted from top management down to the entry-level employees about any ethical procedures or values. The most prevalent assumption to be taken away is that Eclipse Airline wants to succeed and share the success within the organization across all relevant personnel. By assuming these three elements, it is to the benefit of the board of directors for the company of Eclipse Airline to immediate put into effect few recommendations. By assuring ethical
Abstract In this essay is to discuss Business Ethics and Corporate Social Responsibility (CSR) by using Anglo-American and Primark as examples. Both companies have a strict policies on ethical behavior which can be used as a catalyst in how to conduct business ethically. Some of the key things I will emphasize what is meant by ethical business. Then I will analyze is how Anglo American and Primark apply ethics into their business. Moreover, The costs and benefits to an organization when they behave ethically.