WorldCom was a pre-eminent telecommunications company that dealt with the same ethical issues that many companies deal with today. Ethics is something that comes into play in every businesses day to day operations. A decision is it ethical or not‚ is something that every employee makes in today’s business environment. Ethics is a topic that needs to be talked about and reinforced on a reoccurring basis so that unethical events like what happened in WorldCom‚ do not happen. There were many unethical
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9.5 Manager’s Information Advantage 9.5.1 Earnings Management 9.5.2 Controlling Earnings Management 9.6 Discussion and Summary 9.7 Agency Theory: A Bondholder-Manager Lending Contract 9.8 Implications of Agency Theory for Accounting 9.8.1 Is Two Better Than One? 9.8.2 Rigidity of Contracts 9.9 Reconciliation of Efficient Securities Market Theory with Economic Consequences 9.10 Conclusions on the Analysis of Conflict Copyright © 2009 Pearson Education Canada
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Business ethics is also a descriptive term for the field of academic study in which many scholars conduct research and in which undergraduate and graduate students are exposed to ethics theory and practice‚ usually through the case method of analysis. Ethical behavior in business is critical. When business firms are charged with infractions‚ and when employees of those firms come under legal investigation‚ there is a concern raised about moral behavior in business. Hence‚ the level of mutual trust‚ which
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An Ethical Dilemma Aker & Aker is one of the top five accounting firms in the United States. It is providing multiple accounting services in personal money management and corporations. Jack had been working under Aker & Aker for over 17 years since he graduated from school. He has devoted most of his time (60-70 hours) in order to become a great supporter in the company‚ and no one can deny that he work hard more than anyone else. Jack’s colleague‚ Carla‚ who is also a great accountant‚
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Ethical and socially Responsive Business BUSS 100 A code of ethics will start by setting out the standard that back up the code and will describe the business commitment to its stakeholders It is intended to simplify a company’s objective‚ standards and principles‚ combining them with main beliefs of efficient behavior A code of conduct is at written guideline by the business that define the principle fundamentals of the business and provide workers knowledge on how to confront issues
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IMPACT OF TECHNOLOGY ON THE ACCOUNTING PROFESSION - A STUDY OF A CPA FIRM’S DISASTER RECOVERY PLANNING Stanley X. Lewis‚ Jr.‚ Troy University Eddy J. Burks‚ Troy University Ernest W. King‚ University of Southern Mississippi Carl Smolinski‚ LSU-Shreveport ABSTRACT The results of an ongoing study of professional accounting firms in the U. S existing research methodology and results included in the 2006 IRMA International Conference reporting the strategic planning by a law firm pertaining to its disaster
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not been authorized. *Accounting estimate—An approximation of a monetary amount in the absence of a precise means of measurement. This term is used for an amount measured at fair value where there is estimation uncertainty‚ as well as for other amounts that require estimation. Where ISA 540 2 addresses only accounting estimates involving measurement at fair value‚ the term “fair value accounting estimates” is used. *Accounting records—The records of initial accounting entries and supporting
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Managerial Accounting Vs Financial Accounting Management Accounting is used primarily by those WITHIN a company or organization. Reports can be generated for any period of time such as daily‚ weekly or monthly. Reports are considered to be "future looking" and have forecasting value to those within the company. Financial accounting is used primarily by those OUTSIDE of a company or organization. Financial reports are usually created for a set period of time‚ such as a fiscal year or period. Financial
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Intro to accounting Business Activites Financing Investing Operating Types of Financing Equity investors: Stockholders Hope to receive dividends or increase in stock price—no guarantees! Public versus private company Debt investors: Creditors of the business Expect principal and interest payments SEC (Securites and exchange commission) Established in 1933 Requires of public companies: Form 10-K (annually) Form 10-Q (quarterly) Audited financial statements (annually) by an “independent
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International Journal of Trade‚ Economics and Finance‚ Vol. 2‚ No. 6‚ December 2011 Use or Abuse of Creative Accounting Techniques Syed Zulfiqar Ali Shah‚ Safdar Butt‚ and Yasir Bin Tariq India who are always short of this product. It takes three years for a cement plant to start production. By the time the new plants came into production in late nineties‚ the country’s economic scenario had changed. The government had no money for development‚ the economy was generally in recession‚ and
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