Bachelor of Science (Hons) in Accounting and Finance Module: MAN0812M – Ethics in Business and Society Individual Assignment Lecturer: Mr Darwin Joseph Q1. Shareholder theory argues that maximising shareholder interest (typically profit maximisation) will‚ via Adam Smith’s “invisible hand” tend to maximise utility because it will result in the most favourable happiness/unhappiness ratio. (On the hand) Advocates of stakeholder theory argue that all stakeholders (shareholders‚ employees
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CHAPTER 1 Accounting and the Business Environment The chapter begins with an explanation of the term “accounting” and its importance to the business world. The text discusses how accounting information is needed by various decision makers—individuals‚ businesses‚ investors‚ creditors‚ government regulatory agencies‚ taxing authorities‚ non-profit organizations‚ and others. Financial and management accounting are compared. A brief history of accounting and the role of ethics in accounting are presented
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BACHELOR OF ACCOUNTING (HONS) UKAI 2063 ACOUNTING INFORMATION SYSTEMS II TUTORIAL 6 Case 1: Universiti Tunku Abdul Rahman Situation: The university is considering a new system that will speed up the registration process. As part of the systems development team‚ you are asked to develop a plan for fact-finding. (Adapted from Shelley & Cashman 2010‚ Chp 04 Apply Your Knowledge‚Elmwood College‚ p181) Required: 1. List all the possible techniques that you might use. 2. Describe
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Considering that law and religion are based on ultimate authority according to an ethical standard and runs by an individual in power and societies; therefore philosophers have come up with a theory of moral standard that roots from logic and thoughts that can be simplified for humans basic needs. In that sense‚ these needs produce the most satisfaction at the fundamental level for human being’s universally and help them to live their life’s at the fullest. For a fact‚ every human being has a simple
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The Implications of the Sarbanes Oxley Act on the Accounting Profession Abstract On July 30‚ 2002‚ the Sarbanes Oxley Act (also known as SOX) was signed into law by President George W. Bush. The Sarbanes Oxley Act of 2002 is a federal law that set new or improved standards for all U.S. public company boards‚ management and public accounting firms. Covered in the eleven titles are additional corporate board responsibilities‚ auditing requirements and criminal penalties. This
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Intro to Ethics Paper #2 Deontology vs. Consequentialism Even though Deontology and Consequentialism can be extremely similar‚ both contain key factors that make each idea unique and very different. Sometimes‚ it may appear that both these theories simply arrive at the same conclusion by way of different paths. While this is sometimes true‚ it is important to understand how these theories differ. Each of these braches of Ethics deals with morals‚ actions‚ ethical decisions and judgments. Beyond
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QUESTION 1 1. Annie’s Attic has the following account balances for the dates given: Cash‚ Sept 1 $40‚000 Cash‚ Sept 30 60‚000 Accounts receivable‚ Sept 1 10‚000 Accounts receivable‚ Sept 30 14‚000 Owner’s equity‚ Sept 1 ? Owner’s equity‚ Sept 30 ? Supplies‚ Sept 1 30‚000 Supplies Sept 30 24‚000 Accounts payable‚ Sept 1 6‚000 Accounts payable‚ Sept 30 ? Net income for September 20‚000 What would owner’s equity be on September 1? 5 points QUESTION 2 1. Annie’s Attic has the following account
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Utilitarianists are often persecuted for holding a morality in which the end always justifies the means‚ no matter how repulsive it may be to intuitional moral standards. Hare attempts to quiet controversy by combining act and rule utilitarianism in daily life in such a way that internal moral standards are satisfied and overall good is promoted. Kymlicka stays firm in his opposition to Hare’s theories and shuns the idea of consequentialism having intrinsic value greater than that of intuitive moral
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Utilitarianism‚ yet another ethical theory between right or wrong. If everyone acted in an effort to promote the greatest good for the greater number of people our universe would exist with a utilitarian state of mind. Although‚ when one looks at this statement on the surface without further analyzing it‚ most would assume that existing in a universe where everyone seeks the happiness for the greatest amount of people that it would be greater one to live in. Although‚ surface wise we can make
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Where do you draw the line on what is right? Ethical theories are something that have been tossed around between people for years. The dispute over what is right or wrong is endless and has many ways of reaching an answer. Each of these theories that arise has both its benefits and drawbacks. No one theory can be perfect and fit everyone’s needs. For a theory to be successful it needs to have supporters. For it to have supporters people need to believe in it. For people to believe in it‚ it
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