These principles include Responsibilities, Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of Services. Accountants can use these principles as a guide when they encounter questionable requests from their clients, or supervisors, as well as avoiding any conflicts of interest that may arise (Mintz and Morris, 2011). It is important that accountants act ethically in reporting a company’s finances. Investors, as well as the general public rely on information when making financial decisions and whether to invest in a company. Out of the purposes of the AICPA Code of Professional Conduct, three of the most important include public interest, integrity, and due care.
Business Ethics - Second Short Paper Paul F. Camenisch’s argument is that the heart of business ethics is its ability to contribute to human flourishing. He relates business ethics to ethics in general. Business ethics relies on the same moral code that every person should follow. Ethics cannot be departmentalized as separate moral codes for business, parents, students, etc. Business is even viewed by some as being the vehicle for contributions to worthy causes.
However there are changes that would have a small affect on the business. There are two areas that a business should look at when change happens. Impact on working methods and impact on the products and services offered and is the first thing that a business should look at to improve the quality. We have to review the impact on working methods. This could be ensuring that all staff is using best practice and everyone is working in the same way.
Kantian ethics is the best approach to the issues surrounding business ethics There are a number of issues which are created by business activity. Firstly, how are businesses relationships with their consumers? Secondly, how businesses relate to the environment, for example with pollution, or sustainability, or treatment of waste. Another is whether businesses follow moral principles like honesty in their dealings. Kant says that people in business should act out of duty alone, not self-interest or desire to earn huge amounts of money.
The marketers responsible for the company messages must be knowledgeable about their responsibilities and treat consumers with the respect they deserve. When companies violate trust with consumers through the use of misleading or deceptive statements, not only do they lose face in the eyes
Robbin Industries is jeopardizing itself by not properly reporting the advertising costs. As an operating company, they must understand the generally accepted accounting principles and adhere to them (Weygandt, Kieso, & Kimmel, 2010). (c) What would you do if you were Wayne Terrago? Wayne Terrago should try to report the financial condition and results of operations fairly and in accordance with the generally accepted accounting principles. As controller, Wayne should inform management and understand what is acceptable according to the GAAP.
Rights theory, not astonishingly, thinks about with the means of rights, as well as basic human rights and property rights. One argument in rights theory is that property rights mustn't override human rights. From a CSR perspective, this may mean that whereas shareholders of a company have bound property rights, this doesn't provide them license to override the fundamental human rights of staff, area people members, and alternative stakeholders. O Deontological theory. Deontological theory deals with the idea that everybody, as well as company managers, incorporates an ethical duty to treat everybody else with respect, as well as listening and considering their wants.
Ethical standards are the code of conduct required by the organization for workers to follow. The relationship between organizational culture and ethics is that the organizational culture guides workers when faced with ethical problems. If the organization culture counters what they are required to do ethically, workers may put the organization in jeopardy by not act ethically. When a worker is faced with a decision that others within the organization think as appropriate, though it is unethical, the worker may follow what is acceptable as per the culture. It is the relationship between organizational culture and ethics that can get businesses into significant trouble in the long term.
One of the main concerns in any motivational program is ethical issues. Motivational practices can have negative impact on work ethics and increase unethical behaviors in the workplace. Ethics in workplace Employees have to do their jobs in an ethical manner. There is no universal definition for ethics, however, De George has stated that :Ethics is a systematic attempt to make sense of our individual and social moral experience, in such a way as to determine rules that ought to govern human conduct, the values worth pursuing, and the character traits deserving development in life (De George, 2006, p.19-20). Business ethics is the guiding principles on what is the “right” or appropriate way to behave in a situation (Jones & George, 2008).
• Ethical Responsibilities Even though economical and legal responsibilities exemplify about fairness and justice, ethical responsibilities cover those activities and practices that are expected or prohibited by members of society even though they are not codified in law. Ethical responsibilities represent those norms, standards or expectations that reflect a jest of what employees, consumers and shareholders regard as just, fair or in keeping the protection or respect of stakeholders’ moral rights. They are important to perform in a manner consistent with expectations of societal and ethical norms. The firms should recognize and respect the ethical moral norms adopted by society from time to time. In order to achieve corporate goals, these