Understanding of Professional Ethics Professional ethics concerns the moral issues that arise because of the specialist knowledge that professionals attain‚ and how the use of this knowledge should be governed when providing a service to the public. Conducting oneself in an ethical manner is an essential part of being a professional. The concept of Professional Ethics is partly comprised of what a professional should or should not do in the work place. It also encompasses a much greater part of
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Professional Values and Ethics Professional ethics and values are important in the business environment to promote satisfaction to employees and clients‚ effectiveness with business strategies‚ and good for professional moral. Since business began‚ there have been unfair business practices promoted by "successful" professional business people. This conundrum brings into question what professional business values and ethics are‚ how one attains and maintain these practices or qualities‚ and what
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cc | 2012 | | Earl-Rae Husselmann Grade 10 C | [Accounting: case study] | | | Question 1: 1.1. They indentify fraud and try to find out why people commit such crimes. Teach or enrich people by letting them know what is right. They probably teach people or students how to uncover fraudulent acts carried out by citizens. They try to find the causes for people committing white-collar crimes. 1.2. Anything to do with fraud and bribery or corruption involving finance. People who
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CHAPTER 4 JOB COSTING 4-1 Cost pool––a grouping of individual indirect cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to cost objects. 4-2 In a job-costing system‚ costs are assigned to a distinct unit‚ batch‚ or lot of a product or service. In a process-costing system
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ETHICS IN ACCOUNTING Presented by: Rojina Sapkota Abhilasha Thapa Pooja Shah Sandeep Gautam Mendhala Lama Gurung AND THE ACCOUNTING PROFESSION What is ETHICS? -All about making right choices and producing good behavior What is ETHICS in ACCOUNTING? -Being responsible enough to behave as a TRUSTWORTHY accountant. ROLE/IMPORTANCE OF ETHICS IN ACCOUNTING To provide true knowledge of the financial transactions taking place. To ensure correct decision making . WHAT IS AN ETHICAL DILEMMA
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Since the barrage of scandals in the early 2000’s‚ regulatory bodies like the Federal Accounting Standards Board (FASB)‚ Securities and Exchange Commission (SEC)‚ and law reform like the Sarbanes-Oxley Act 2002 have worked to improve the standards and principles used in accounting and financial reporting. The FASB is “the designated organization in the private sector for establishing standards of financial accounting that govern the preparation of financial reports by nongovernmental organizations‚”
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Codes of Ethics and other scholarly resources to support your responses. You must provide at least one citation to support your response for each scenario. Though APA format is not required for your answers‚ citations and references should be presented in accordance with APA guidelines. 1. Barbara is a licensed professional counselor (LPC) working for a nonprofit social service agency. Many of the clients in the agency are female domestic violence victims. The director of the agency has asked Barbara
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Code of Professional Ethics and Conduct Integrity and Objectivity According to the American Institute of CPAs (AICPA) Code of Professional Conduct‚ Section 102 is Integrity and Objectivity. Rule 102 states that “in the performance of any professional service‚ a member should maintain objectivity and integrity‚ shall be free of conflicts of interest‚ and shall not knowingly misrepresent facts or subordinate his or her judgment to other” (http://www.aicpa.org). Mr. John Irwin made materially
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What is ethics? Ethics is a branch of philosophy that studies the difference between right and wrong. As professional accountants‚ you will have many opportunities to choose between right and wrong. And as you have seen in the business press‚ making the wrong choice can lead to serious consequences including corporate failure‚ loss of reputation‚ fines‚ and even jail sentences. The objective of this unit is to introduce you to different branches of ethics‚ in order to help you understand that people
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New York State Accounting Code of Ethics Contemporary Business Law 1 Monica G. Bradshaw June 1‚ 2004 New York State Accounting Code of Ethics Introduction The accounting system is constantly changing. During these changes‚ it is important for accountants to adhere to the high ethical standards that they have always lived by. Adhering to the high ethical standards is an accountant?s obligation to the public‚ the profession‚ and themselves. An accountant?s ethical conduct usually
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