Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
accounting code ethics
Ethical dilemmas faced by walmart managers
Ethical dilemmas faced by walmart managers
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: accounting code ethics
Controlling is a function of management that really brings the whole company together. Controlling is defined as any mechanical (or others) system used to keep one or more variable parameters constant, or within specified bounds (Wikipedia, 2008)... The process of controlling is very important aspect of Wal-Mart’s goal of maintaining ethical accounting practices. The most important part of the control mechanism is Wal-Mart accounting and the way it’s practiced everyday at the store level and also at the corporate level. It is set forth that documents in accordance with all applicable laws, regulations, or court orders and in compliance with all internal retention policies and directives, as well as all complaints received regarding accounting, internal audits controls or auditing matters shall be controlled(Wal-Mart Audit Committee, 2007). Just as important, all employees, officers, directors, etc are instructed not to withhold or suppress any information relevant to financial accounting matters (Wal-Mart Audit Committee). Wal-Mart’s main objective is safeguarding against internal control
s, Wal-Mart tends to be alert to many attempts to circumvent the internal control. Any person or team that is trying to go around the policies and procedures that are meant to protect assets, business information, and information is reported to the internal control auditing team. Wal-Mart strongly believes in protocol so; the company has a clear process of handling accounting ethics concerns. The initial report by an associate is done by means of open door or ethics hotline. The open door is the most direct way to voice any concern to a supervisor. If an employee believes his immediate supervisor is involved in the misconduct, he is to report the misconduct to the next level of management believed not to be involved. Wal-Mart has an ethics Hotline, which allows associates to report a violation on a confidential and anonymous basis. The ethics hotline forwards report to the Ethics office; it is then forwarded to the Internal Audit Department. The Internal Audit Department overseas investigation and resolution of ethics report. Internal Audit Department maintains a log of all ethics matters and periodically provides reports to senior management and the Audit committee. With all of Wal-Mart ethical accounting procedures outlined so thoroughly, one would think that the company would never be suspected of dishonest financial reporting. Arguably, Wal-Mart has maintained a sound and flawless accounting system. However, in mid august of 2000 Wal-Mart decided to make a minor accounting change due to some questions that arose within the company.
Wal-Mart is, to some extent, a values-based corporation. The Wal-Mart Corporation takes a strong, direct stance on many issues. This can be seen in many items in which they refuse to sell, such as; music and games with explicit content, adult magazines, and the morning after pill. This shows character in the company because they are foregoing potential profits in order to enforce values that they believe in. Wal-Mart is probably making some people very happy by this moral stance that they have undertaken, and it gives a message to the public that Wal-Mart is not a heartless corporation like many others.
To this day, when I walk into Wal-Mart and come face to face with a manager I once worked under they give me dirty looks. People report that managers will trash talk you to another job that applied for if that job contacts Wal-Mart about you. Wal-Mart has unrealistic workloads for some overnight stockers, their managers aren’t the best in the world, and their policies are harsh. This is why I constantly call Wal-Mart a communist regime; not because it shares the ideals but because it is just bad for everyone in general. Hopefully one day a high positioned power will restore the order and peace that once was Wal-Mart according to the history they teach you in training and that their policies and workloads may become more realistic and doable.
Wal-Mart has to implement a number of changes to correct the problems it has created. Attention must be paid to ensure the employee is treated fairly. Other ways must be sought to maintain profit levels and make the stockholders happy.
Before Wal-mart, the trend in the American workplace was to internalize the cost of doing business. American companies tried to compete with everything from higher wages, to better health care benefits, to limiting the work-week to 40 hours. In its ruthless pursuit of cheaper products, Wal-mart has reversed the trend, by externalizes its costs anyway it can. These costs are first explicit in nature, by receiving tax breaks to operate in some cities or the tax dollars that Wal-mart employees utilize for health care/public assistance. The costs are implicit as well; these big box stores destroy local economies, are known as a bad neighbor and are also harmful to the environment.
The Wal-Mart Corporation is a multi-billion dollar low-cost retail organization, consisting of 6400 stores and 1.8 million sales associates worldwide. Wal-Mart’s influence on the retail world and the enormity of their corporate size is unparalleled. Wal-Mart can easily report sales of $312.4 billion dollars per fiscal quarter and net profits of $3.8 billion dollars. Wal-Mart promises her customers "Always low prices. Always!" and upholds this motto by providing low prices to her customers and high return on investment to her stockholders. One way that Wal-Mart has managed to maintain a competitive edge over other low cost retail giants and provide low prices is by cutting wages and by not offering too many company benefits to their employees. Full-time employee working at Wal-Mart only make $8 an hour, while only 45% of the workers can afford to be covered by health insurance. Wal-Mart also increase part time employees from 20 percent to 40 percent so that they do not have to cover all of their employees for health insurance . Although Wal-Mart may not provide excellent benefits to her employees, it successfully performs as a legitimate business operating in a capitalistic society. Wal-Mart upholds the primary fiduciary duty to satisfy her stockholder and follows free the market libertarianism model, which states that a business should not interfering with the free market. In a free market Wal-Mart has a direct responsibility to her primary stockholders rather than the employees of a company.
“On leadership” was written by John W. Gardner (The Free Press, New York, 1990). He used seventeen chapters to explain and describe essential components for the leadership should be in a successful organization. This book not only has significant influence now, but also for the future. Below are my understanding about this book, which was divided into two parts. For the first part, I will pick up some perspectives which influence me most from this book. For the second part, which is my comments and critique about this book.
In 2015, Walmart implemented a risk based approach to auditing that allocated their auditing resources based on the risk level of the country where the facility is located. The audits are normally unannounced and conducted at facilities by third-party audit firms. So what does this mean to the Walmart organization. It is saying that they are a transparent company with nothing to hide. The company continues to continually evaluate risks in the supply chain, including the potential risk of forced
The responsibility of Ernst & Young is to express an opinion on the financial statements given by Wal-Mart and Target holding both corporations responsible that the statement being audited is accurate and true. The audits have to be in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB), which require that the audit must have sufficient evidence that the financial statements do not contain any false material.
...ff. By the end of 2014 Wal-Mart will have appointed 10 market-level Chief compliance officer in its International division to build and lead the compliance teams in the company’s retail markets around the world. This effort is critical for promoting the long-term sustainability and capability of the company’s anti-corruption compliance team.
Wal-Mart Stores Inc. is in the discount, variety stores industry. It was founded in 1945, Bentonville in Arkansas which is also the headquarters of Wal-Mart. Wal-Mart operates locally as well as worldwide. It operated 1209 discount stores, 1980 super centers, and 567 Sam’s Club by January 31, 2006. It has also extended its operations to many international countries. It runs its retail stores in two forms: Sam’s Club and Wal-Mart Stores. The Sam’s Club sells assorted product lines such as hardwares, electronics, jewelry, and to mention a few. The Wal-Mart stores also offer similar products in addition to the following: health and beauty products, apparel for women, men and children, household appliances etc (www.yahoo.finance.com). The Vision Statement, Mission Statement, Values and Code of Conduct, Corporate Governance: Directors, Executive Management, Committees and Stakeholder will be the key elements that will discussed in this report as it relates to Wal-Mart. In addition to that, the major trends in the general/macro environment and industry will be analyzed.
What is a leader? Who are chosen to be leader, and why are they chosen? What set these certain individuals aside from everyone else? A leader is someone who can encourage even those with feeble hearts, insecure souls and self-doubting minds. A leader takes not only their vision but everyone’s vision and create one beautiful creation that is seen throughout the world. My experiences with leadership range from the worst to the best. Once holding a great leadership position myself, I can testify the benefits of great leadership and the disadvantages of horrible leadership. Through my experience with great leadership and the effects on the people, it seemed to the naked eye that everyone was thinking the same thing at the same time. In actually it was the leader uniting the members together on one common chord to produce a sound that would remain in the souls. A leader is someone who not only leads, but also encourages people to do their best, share a collectively common idea or passion with a group, and challenge the process of a traditional style.
The role of leadership has become increasing valuable for organizations to be successful. According to Huber (2014), Leadership can best be defined as method utilized to ensure that an objective is completed. There are many different types of leaderships that can be found within each organization. In this paper I will highlight an example of a specific leadership style that we come across in healthcare settings. I will review my leadership self-assessment results and discuss the impact of leadership on staff and groups.
Leadership is being able to direct or guide other people by either your own actions or by actually guiding them into the right direction (Acumen). Inspiration to be a leader might come from many different areas like your family, friends, peers, or even teachers. My inspiration didn’t really occur to me until I started attending college in August 2013. In all actuality I never even thought of how to be a leader until I was in Mrs. Moore’s Perspectives class. I now have a desire to be a great leader, and the inspiration has come from Mrs. Moore, and my family. I am the first to attend college out of my family, so in a away I have already started leading my siblings in the right direction. Being a leader means inspiring others to pursue their dreams, and aspirations and helping throughout the journey to success. Being a leader has nothing with authority or being able to tell other what, and how to do things, it’s about having people who look up to you and want to follow your example.
Leadership is both a research area and a practical skill, regarding the ability of an individual or organization to "lead" or guide other individuals, teams, or entire organizations. Leadersip can not definied by just one word but by action. I have seen development within myself through my volunteer service. Leadership is both a research area and a practical opportunity to share the ability gained as a individual, also through my organizations to lead or guide other individual team members who have a common goal. Volunteering in the church organizations matches my need to be of service to others. While volunteer at Fallbrook church I in return have been served I have been guided, nurtured, and challenge through the process. I have been
Many people associate leadership with a specific job title or form of power within an organization. However, through personal experience, I have concluded that leadership can come in many forms and position as well as from multiple sources of roles and job titles both with and without power. Based on the definition of leadership, anyone can be considered a leader as long as they have the ability to influence people to achieve a particular result or goal which benefits the organization or group as a whole. Individuals with a secure sense of self and understanding, acceptance of diversity within an organization tend to be the strongest leaders that not only make others want to follow, but they also encourage other leaders to gravitate to their