Running head: ETHICS IN ACCOUNTING Organizational Ethics in Accounting: A Comparison of Utilitarianism and Christian Deontological Principles Katherine Y. Masten A Senior Thesis submitted in partial fulfillment of the requirements for graduation in the Honors Program Liberty University Spring 2012 1 ETHICS IN ACCOUNTING Acceptance of Senior Honors Thesis This Senior Honors Thesis is accepted in partial fulfillment of the requirements for graduation from the Honors Program of Liberty University
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Accounting Ethics Accounting ethics is primarily a field of professional ethics‚ the study of moral values and judgements which are applied to the accountancy. “Accounting ethics can be defined as a set of distinct guidelines for a business to maintain clean balance sheets‚ accounting for their profits‚ losses and expenses incurred and prevent it from mishandling financial reports and statements” (Buzzle 2011). The nature of the work carried out by accountants and auditors requires a high level
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ACCG 399 Reflection Learning Log Lecture 1 Financial Accounting is highlighted in the lecture. There are two key points of financial accounting. Firstly‚ financial accounting is a process involving the collection and processing of financial information to meet the decision-making needs of parties external to an orgnisation. The other one is related to laws and accounting standards‚ external reporting‚ financial statements‚ values and material‚ independent audit opinion‚ overview general purpose
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Accounting for Managers TOPIC A: AN INTRODUCTION TO ACCOUNTING Investors – Individual and groups provide initial capital. Creditors – Company which loans money to another company (Suppliers/Bank). Managers – Oversee the day-to-day operations. What is accounting? * Process of Recognising‚ measuring‚ recording (also known as transactions)‚ disclosing and attesting to information. *Information – Decision Making (Value Creation)‚ Control (Monitoring). Process of Accounting: Transactions
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Accounting Ethics Accounting Ethics‚ Second Edition. Ronald Duska‚ Brenda Shay Duska‚ and Julie Ragatz © 2011 John Wiley & Sons‚ Ltd. Published 2011 by John Wiley & Sons‚ Ltd. ISBN: 978-1-405-19613-0 Foundations of Business Ethics Series editors: W. Michael Hoffman and Robert E. Frederick Written by an assembly of the most distinguished figures in business ethics‚ the Foundations of Business Ethics series aims to explain and assess the fundamental issues that motivate interest in each of
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in each case: Marshal : $2‚000: Linda : $1‚600 Theresa : $1‚800 October13 The following paid us thier Accounts by Check in each case deducting 2.5% Discount Jerry : $980 Martins 450 October15 Receive a futher Loan of $2‚500 October16 We paid Brandy his account of $400 by Check October18 Cash Sales $8‚000 October21 Paid Rent in Cash $1‚800 October23 Received Commission By Check $7‚500 October25 The following persons paid us thier Accounts by check in each Case Deducting
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Bid Rigging Bid rigging is a major source of corruption in procurement organizations today. According to the Organization for Economic Co-operation and Development (OECD)‚ “bid rigging (pr collusive tendering) occurs when businesses‚ that would otherwise be expected to compete‚ secretly conspire to raise prices or lower the quality of the goods or services for purchasers who wish to acquire products or services through a bidding process” (Danger‚ 2009). Bid rigging can occur is both public and
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Introduction Ethics in accounting and financial decision making is important in today ’s business world. Many organizations put emphasis on ethics and the financial decision making process with the organization and expect that auditors‚ managers and accountants will behave in an ethical manner. There are many factors that inspire organizations to assure and push ethical policies. In the last seven years‚ the world has witnessed stunning financial collapse in many companies that were ranked among
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Assignment 1: Review of Accounting Ethics The New Zealand Institute of Chartered Accounts (NZICA) represents over 33‚000 members in New Zealand and overseas. The organization audits private companies and public companies that are members of the organization (Graham‚ 1960). In October 2012‚ the organization was found to be practicing breaches of accounting with its members when an employee of the organization was found investing in different companies using client’s money. The loans were supposed
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follow the Code Of Professional Conduct? Provides general guidance on professional responsibilities‚ the public interest‚ integrity‚ objectivity and independence‚ due care‚ and the scope and nature of services without establishing specific standards. Nevertheless‚ every practitioner should read them. An understanding of the difference between independence and objectivity is important particularly when consulting services are being provided to attest service clients. * List three suggestions
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