For week five the area that I felt most comfortable with is unethical accounting practices. One clear example that stood out in my mind in which I could relate was the Enron Scandal. I learned that situations may lead to unethical accounting practices vary from position to position. Individual freedoms and lack of controls are two situations that would lead to unethical accounting practices. Individual freedoms would include not being monitored and an individual performing all of the related activities
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Impacts of Unethical Behavior Adam S. Wilcox XACC/280 5/9/2012 Angelia Hunter Impacts of Unethical Behavior The collapse of Enron in 2001 shed the light on a number of unethical business and accounting practices in the corporate world. In 1986 Enron CEO Kenneth Lay combined his Houston Natural Gas company with several other companies. At this time the company began growing exponentially. By the mid-1990’s the deregulation of the oil and gas industries allowed Enron to spend
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Identify the different substances which individuals might use‚ how they are used and their likely effects. Abused substances produce some form of intoxication that alters judgment‚ attention‚ perception‚ or physical control. Psychoactive drugs can be categorised into three broad groups: 1 Stimulants: Amphetamines‚ Cocaine‚ Crack‚ Ecstasy‚ Anabolic steroids 2 Depressants: Cannabis‚ Alcohol‚ Benzodiazepines GHB etc. 3 Hallucinogens: LSD‚ Magic Mushrooms (Psilocybin)‚ Skunk. Drugs also have street
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of 2007‚ Mrs. Muliaga was sitting in her dining room while one of her sons was at the computer. That morning an agent for Mercury Energy visited the home to announce that the power was being turned off. The agent gave the son a disconnect notice which was then given to Mrs. Muliaga by her son. Mrs. Muliaga told her son to ask the man to come inside. The agent came into Mrs. Muliaga’s home but did not notify her that the power had already been turned off. The agent stepped over a tube running
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The Unethical Behavior of Enron Enron‚ once the countries seventh-largest company according to the Fortune 500‚ is a good example of how greed and the desire for success can transform into unethical behavior. Good ethics in business would be to compete fairly and honestly‚ to communicate truthfully and to not cause harm to others. These are things that Enron did not seem to display‚ which led to Enron’s operations file for bankruptcy in 2001. Enron’s scandal has become one of the most talked
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examples of unethical behavior in organizations‚ often tied to the organization’s handling of finances. In this question‚ discuss ethical issues facing the top leadership or financial managers in today’s corporate environment regarding their approach to the financial matters of the firm. What pressures exist that might encourage unethical behavior‚ particularly as it pertains to the firm’s financial reporting or situation? How might these be mitigated? (You might want to conduct a search to identify examples
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Hewlett-Packard. Samsung’s all business units‚ including end-product and component businesses‚ posted solid earnings in last year thanks to strong sales of Galaxy smartphones and increased shipments of display panels used in tablets and smartphones‚ which put extra pressure on company to meet the demand of the market. So in order to meet the demand Samsung asked their outsourcing company (electronic component) HEG electronic (china) to hire more workers and increase the shift timings. This resulted
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The Impact of Unethical Behavior The profession today called accountancy and the professionals today called accountants have been in practice by other names since 4000 BC (Giroux‚ 1999). As long as commerce of any kind in any form exists‚ the profession and the professionals will continue to be in the midst of the business world quietly making innovations that change the way the amassing of wealth is recorded. Most accountants are persons of integrity and ethics. Business ethics has many levels
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: Impact of Unethical Behavior The impact of unethical behavior is wide spread‚ and does unimaginable damage to people‚ and business alike. The results of unethical behavior on the grandest scale would be Enron‚ Tyco‚ and Global Crossing‚ or WorldCom. Greed led to accounting abuses‚ cover ups and every day people becoming whistle blowers. Manipulating financial reports is illegal and unethical because the financial records are supposed to show the
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Unethical practices and behavior in accounting may often go unchecked because the actions may be the result of upper management and even senior executives. Employees fearing negative reactions from management or their peer group may remain silence if they are aware of a person doing unethical things‚ causing the employee to turn a blind eye. Falsifying or altering business documents such as sales receipts‚ or tampering with accounting reports is unethical practices for a company to engage in.
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