The fear brought many negative affects to the finances of companies and to the areas of auditing and consulting. Shareholders of many successful companies were now aware of how auditing and consulting led to a conflict of interest and were demanding that organizations address these concerns through the separation of auditing and consulting. Although these shareholders had the right intentions, the split requires further analysis to understand the implications of the Enron and Arthur Anderson relationship and the benefits and drawbacks to having one firm providing both auditing and consulting services. Events Leading to Separation Arthur Anderson’s contributions to the Enron disaster began with the change of focus of Arthur Anderson from unquestioned accounting ethics to generating income (Brooks, 2007). When one focuses primarily on making money other considerations become so unimportant that they rarely, if ever, enter the picture.
Michael Royston Bus-110 MWF Accounting Essay 3-26-2012 In-House Accounting Doomsday Mistakes Running a business by yourself can be hard, especially when you opt to take the full responsibilities of owning or starting a company. One of these responsibilities is accounting, which can be the death of a company if done wrong. Here are some accounting mistakes that can pull you and your business six feet under. The first mistake is having insufficient software. When you decide to take the path of in-house accounting, accounting software is vital to your company’s survival because your business does not have an accountant.
Mary is his supervisor. There was a letter written to the CEO about the recently installed system and its not performing as expected. The system was very expensive and should be making money not losing money. Joe knows the performance of the system isn’t up to par. Joe has notified Mary about the system’s problems.
But after some time he found that he had made some mistake in his report. The report had indirect effect on the demand and sales of the product and also the hiring of the employees. He was in making a decision to tell his superior authority about the mistake. But his friend suggested not telling as it may risk his job. After listening to him his decision got bias.
These points are just a guideline to obtain quality from a business; however, many of these points contradict the practice of “Salesmen of the Month” awards shown in the article. Firstly, one reason Deming would not approve of “salesmen of the month” tactics would be that this idea disagrees with his point stating that businesses should “end the practice of awarding business”. This tactic awards those who obtain business, which could lead the other employees to feel as if they are inadequate to the top “salesmen of the month”. This also ties in with Deming’s other point stating that businesses should “remove barriers that rob people of pride”. In the article the top 3 salesmen of the month each are shown their own individual profiles, while the other employees are simply grouped together into one generic heading titled “The rest of sales staff”.
This could be ensuring that all staff is using best practice and everyone is working in the same way. What impact would their be on the service provided by the business, with the change on working methods will the service offered to clients suffer or will it benefit the client. Failing to review the impact of change could lead to failing within a business. It is important when changes are being implemented with in a business that staff are fully trained and supported throughout. Most businesses would have a change manager who would implement the changes.
By following environmental regulations the company might have to face a lot of protest from shareholders since keeping up with the environment can be quite expensive also while being a small local company can be quite problematic. 2) Another source of conflict might be the low wages that employees are facing in Perfect Printing. As internal stakeholders of the company and also a vital asset having employee dissatisfaction has been quite a problem to perfect printing. This is affecting morale and the productivity of Perfect printing. Some of the employees have been threatening to leave the company which would be disastrous for Perfect Printing because employees are one the biggest asset a company has since it’s the workers who produce the goods for the consumers without workers a company cannot function.
1. Why is it important for business and professional students to develop good communication skills, and why are writing skills especially important? - Develop good communication and writing skills is extremely important in business. Because if you cannot write or speak crearly, so everyone can understand you, you will limit your abilities of being effective doing a lot of stuff in the business including meeting with clients, what is so important for the companies. 2.
The problem to be investigated is the relationship between leadership, ethical stewardship and trustworthiness in corporate organizations. The relationship of the three elements is based on the culture of the organization. Since global market is very competitive, organizations depend on employees’ creativity, commitment and ability to make advancement (Caldwell, Hayes & Long, 2010). According to Caldwell, Hayes & Long (2010), “the importance of understanding the relationships between leadership behavior, perceptions about leader’s trustworthiness, and the ethical duties implicit in the psychological contract have become increasingly important”. The relationship is related to the needs of stakeholders and the ability to expect peculiar things from the organization so that they can maintain a trustful relationship in the organization (Castaldo, 2007, p. 57).
The source codes are executable using Microsoft Excel, Access, or Open Source software. Financing and Accounting analytical roles are to analysis information that comes through their organization pertaining to their sales and services provided to their customers. Having a faulty system cause the department to fall behind on some of their serious obligations. At the end of each week a report was due to the headquarters office concerning their accounting procedures. Because of the problem with source coding their business clients and customers information was in jeopardy of being corrupted by its own system.