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challenges with respect to professional ethics
importance of ethics in life
case study on ethical issues in the workplace
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What are ethics? Ethics are the set beliefs and values of an individual which they apply to circumstances relating to morality. To act in an ‘ethical’ manner, an individual must display integrity by doing what they believe to be right. When working within any professional body, an individual will be subjected to circumstances in which personal ethics will come into play. The Accounting profession is no different as ethical questions arise as part of any working day and can effect how an individual or the company conducts business. These questions can vary greatly in practice from selection of new customers to the rates at which those clients are going to be charged. These ethical questions are raised regularly within the workplace and each employee will react to them differently. The varying reactions will depend on the morality of each individual, or each employees own ‘ethics’. As each employee has their own set of values companies must be alert to the fact that some of their employees may have more ‘flexible’ morals than others. This ‘flexible’ morality can lead to corruption and manipulation within the workplace and can give companies serious problems. As a result of this, all of the main professional accounting bodies have begun to re-introduce mandatory courses teaching ethics to their employees. As well as this, ‘A Guide to professional ethics’ was published which contains a number of different principles in order to govern the behaviour of accountants and also to identify and reduce the greatest areas of risk with respect to unethical behaviour. How does a person form their set of morals? Ethical programming had been left out of the Professional Accounting syllabus due to the argument of whether or not ethics c... ... middle of paper ... ...hink over a length of time. Therefore although it is almost impossible to change someone’s morals, they can be guided throughout their employment for the benefit of the company. In today’s business environment it has becomes essential for accountants to have a basic grasp of business ethics. Having the guidelines in places gives accountants a relatively consistent method of addressing ethical situation (based on interpretation). Even simply having a course dedicated to ethics shows accounting students that this is an issue which is an important part of the training and will at least give them a chance to address their own morality. As well as this, teaching morality also gives the company a level of deniability when it comes to any scandals or unethical behaviour. References Can ethics be taught? By Archie Carrol Can ethics be taught? By Manuel Velasquez
Ethics plays a vital role in developing accurate and high quality financial statements for management, financial institutions, and investors. As management utilizes financial statements to make decisions regarding the operations of the business, it is necessary to review accurate financial statements to make strategic decisions about the future of the organization. Investors and financial institutions require accurate financial statements to make informed decisions upon whether to invest funds into the organization or the wisdom of lending funds to said organization.
The word “Ethics” has its root in the Greek word ‘ethos’, which means character, spirit and attitude of a group of people or culture. Ethics is defined in the Concise Oxford Dictionary as: a system of moral principles, by which human actions may be judged good or bad or right or wrong, and the rules of conduct recognized in respect of a particular class of human actions.
Throughout the course of day-to-day business life, the business professionals come in contact with quite a sum of ethical dilemmas. There are various ways to handle these ethical dilemmas, but failure to follow the appropriate manner could result in an unethical outcome. The ethical guides related to the book definitely help students develop an ethical character that is sure to stand out for highly ethical companies. In addition, there are companies that test how ethical applicants are before hiring them, this in turn makes getting the job more difficult and costly. However, despite the high cost and difficulty said companies stay firm to ethics, guaranteeing they get top-of-the-line employees who will act in an ethical manner. Ethics is defined
In today’s global society, a Code of Ethics policy is used to label established, acceptable behaviors among that industry’s business associates, potential investors, and the corporation’s executive officers and employees, and most important, the consumer (Ethics Resource Center, 2003). In an attempt to promote an increased efficiency and productivity potential level, among employees and prospective clients, a corporation’s standard Code of Ethics should guide its members toward a more in-depth examination of their personal moral activity, and how these actions affect the people or acquaintances they encounter. A company should utilize this strategy as a model for the professional behaviors and responsibilities of its constituents, and proves the occupational advancement of that business. Ethics are important in every level of a corporation, but specifically in the day-to-day actions of its members, and the image the company broadcasts to its associates is fundamental in building a stable business foundation. These pledges are a vital communication tool used to covey the firm’s standards for business operations, and predominantly, its relationships with the surrounding communities (Ethics Resource Center, 2003).
While this is an ambiguous subject, wracked with speculation and ambivalence, it is an appealing topic of study. A curious facet of the ethical dilemma is that it transcends various fields of interest. The ethics issue is scrutinized by philosophers and psychologists, but this theme is frequently introduced in other curricula. Accounting, for example, has its own set of ethical mandates. Moreover, nearly every profession is impacted by a generally accepted code of ethics – doctors, lawyers, contractors, and the list goes on! In fact, almost every day an individual is confronted with a moral decision.
As an individual and ambitious accounting student with plans to pursue a career in public accounting, I recognize the importance of understanding my core personal values and behaviors that guide the ethical principles of my everyday actions. I recognize that I have a responsibility to myself, family, future colleagues, future clients, and the general public to follow certain guidelines and conduct myself in an ethical manner. Furthermore, I acknowledge the idea that ethical dilemmas will occur, but I am committed to my “Personal Code of Ethical Values” (as seen above) that represent my desire to live ethically in every facet of my life.
The term “ethics” is often used within business environments to promote and encourage organizational employees to make fair and honest business decisions daily. However, some scholars argue that, a majority of organizations in today’s business environment use the term “ethics” loosely to meet the current social status quo of business practices, but do not actually enforce the importance of ethical practices with their organization. In order to explore this argument further, a sample business ethics issue will be examined and a Christian worldview will be applied to the ethical issue as a method to correct the business ethical topic.
Crane, Andrew, and Dirk Matten. "Questioning the Domain of the Business Ethics Curriculum." Journal of Business Ethics 54.4 (2004): 357-69. Web.
Romal, Jane B., and Hibschweiler, Arlene M. "Improving Professionals Ethics: Steps for Implementing Change." The CPA Journal (2004). Retrieved on 16 September 2006 .
This essay will talk about the ethical standards and code of conduct in the accounting profession, in particular for CPA Australia, the importance of ethical education for accounting students, the importance for ethical financial reporting and also addresses ways to deal with conflicts that arise from ethical issues in the
Jin, Drozdenko, and DeLoughy (2013) examined the organizational value clusters to determine that the corporate ideology affects the professional decisions and ethical choices (pp. 13-14). The authors used the data of national survey to analyze the organizational settings and mechanism of the corporate value system. The findings demonstrated that the accounting professionals possess the value judgment and ethical responsibility, but exercise the unethical behavior due to the demand and appreciation of the management (pp. 17-18). Jin et al. (2013) indicated that accounting professionals face limited options due to corporate interests, ideology of executives, and myopic mindset. The desire to achieve the high profit and performance results has negative consequences for the corporate ethics. Employees, accounting professionals, and executives sacrifice with commitments and ethical responsibilities. The researchers suggested finding the ways to support the ethical thinking, unbiased mindset, and
The importance of business ethics should be obvious throughout every area of the business. When a business is known for dealing honestly with all people, from its employees and customers to shareholders and vendors, it is often more likely to become successful. While ethics is a subjective topic that may mean different things to different people, it's still very important in all types of corporate settings(Cory, 2006:21).
Ethics are values based on each individual’s environment. They are instilled in your being by parents, grandparents, friends and culture. Ethics are a vital part of society by showing others that we are different and not only by physical appearance. Below are my ratings of each ethical style.
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
Ethics is a system of moral principles and a branch of philosophy which defines what is acceptable for both individuals and society. It is a philosophy that covers a whole range of things that have an importance in everyday situations. Ethics are vital in everyones lives, it includes human values, and how to have a good life, our rights and responsibilities, moral decisions what is right and wrong, good and bad. Moral principles affect how people make decisions and lead their lives (BBC, 2013). There are many different beliefs about were ethics come from. These consist of; God and Religion, human conscience, the example of good human beings and a huge desire for the best for people in each unique situation, and political power (BBC, 2013).