ETHICS CASE Dilemma of an Accountant In 1976 Senator Lee Metcalf (D-Mont.) released a report on the public accounting industry which rocked the profession. Despite a decade of revisions in rules and regulations (variously established by the Securities and Exchange Commission‚ Accounting Principles Board‚ and Financial Accounting Standards Board)‚ public accounting firms were still perceived by many on Capitol Hill as biased in favor of their clients‚ incapable of or unwilling to police
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Ethical dilemma is an issue involving moral principles with no right or wrong. There will always have debates on whether one matter is considered being right or to some people’s perspective‚ it might be wrong. Take for example in Singapore‚ many people will be against the idea of abortion as it is the same as murder. However‚ there are also some who are not against the idea. In fact‚ abortions were considered legal so long the pregnancy does not exceed 6 months. It actually depends on one’s conscience
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DEBEERS DIAMOND DILEMMA 1. VISION STATEMENT To be the world’s leading provider of traditional and quality diamonds. Justification: World: This gives the idea that Debeers is targeting the entire world market “consumption of diamonds” Provider: Debeers is looking at provision of this product at all phases of the value chain Traditional: To still focus on the production and sale of natural diamonds to service that existing portion of the market. Quality: This means that Debeers will continue
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1. Calculate the Payback Period of each project. Explain what argument Tim should make to show that the Payback Period is not appropriate in this case. Answer : Year Synthetic Resin Epoxy Resin Cash Flows Cumulative Cash Flows Cash Flows Cumulative Cash Flows 0 -$1‚000‚000 -$1‚000‚000 -$800‚000 -$800‚000 1 $350‚000 -$650‚000 $600‚000 -$200‚000 2 $400‚000 -$250‚000 $400‚000 $200‚000 3 $500‚000 $250‚000 $300‚000 $500‚000 4 $650‚000 $900‚000 $200‚000 $700‚000 5 $700‚000 $1‚600‚000 $200‚000
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the statistical test I ran was not significant implying that the growth factor added little benefit. When I shared the results with my advisor‚ he asked me to rework the statistics and show the data in a more positive light to the client. My dilemma was whether to report the findings against the wishes of my advisor or to heed his request and use a less stringent and statistically incorrect test. Researchers often manipulate data by using alternative statistical tests‚ so complying with my advisor’s
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Animal testing is an ethical dilemma as it is using animals‚ which are other living creatures to profit humankind‚ when they are incapable of giving assent. Over 115 million animals are burned‚ crippled‚ poisoned‚ and abused in labs every year for any scientific experiment or test. This topic was chosen as it is one of the most controversial issues throughout the world. They raise ethical issues‚ as George Bernard Shaw‚ a political activist has said “The worst sin towards our fellow creatures is
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The cost of tragedy is a huge predicament in society. Having to decide between two moral wrongdoings is almost impossible. With no obvious answer‚ you must decide between the lesser of two evils from an ethical standpoint. While there may be tough decisions to be made‚ you need to ask yourself the obvious question as well as the tragic one. A situation may seem tragic‚ but a truly tragic situation is only when it involves moral wrongdoing. Choosing to eat at home vs eating with your friend for example
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hands and to work out my own problems‚ knowing I was the dictator of my consequences and decisions. In this situation‚ I learned how to set my priorities‚ a skill that has taken me a step toward preparing for college. Knowing that education would provide the foundation for my future in college and beyond‚ I placed it at the top of my values‚ so even in the excitement of new friends and complete independence‚ I had to maintain it as my first priority. Though it proved difficult to discipline myself
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President’s Dilemma Speech Our nation is currently in the middle of grim economic circumstances of stagflation. Inflation is high‚ and getting higher. Unemployment is high‚ and getting higher. While all of this happens‚ GDP continues to drop. If nothing is done about this‚ our nation is sure to suffer worse consequences than we have already been forced to endure. Our economy will be flushed down the toilet. This new economic policy is the answer to our prayers. With the perfect blend of fiscal
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“Ethical Dilemma at Northlake” Week 3 – Case Study #1 Cecellia Dantzler Synopsis: Frank‚ manager of corporate reporting at Amalgamated Forest Products‚ has threatened to go public with information regarding a falsified report on the effect of effluent controls on the discharge of wastewater from pulp and paper companies‚ which has angered his boss‚ Jim McIntosh and the company’s president‚ Jim Letourneau. Letourneau was to testify before a legislative subcommittee the following week and use
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