Learning Objectives After studying this module you should be able to: Understand the importance of ethics Know the history of ethics in accounting Incorporate ethics into your decision process Know ethical standards for accounting professionals Understand ethical implications of the U.S. transition to IFRS Appreciate lessons learned from recent business scandals SECTION 1 — THE IMPORTANCE OF ETHICS Ethics is an important part of your accounting education and it will play an increasingly important
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Case Study: Slavery in the Chocolate Industry This case is about the slavery of young men in the Chocolate industry. Chocolate is made from the highly prized top quality cocoa beans that are grown on farms in West Africa‚ especially the Ivory Coast and Ghana‚ which make up close to half of the world’s chocolate. Slavery in the chocolate industry raises many issues including systematic‚ corporate and individual ethical issue. Here I’m going to discuss the issue I observed in this case
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Advances In Management ;; Vol. 5 (3) Mar. (2012) Aspects of International Business Ethics Mahoney James F. Managing Director‚ The Paragon Group. Managing Director‚ 2476 N Beechwood Ave‚ Rialto‚ California‚ USA theparagongroup@roadrunner.com Abstract This paper is an analytical examination of the ethical problems posed by the practice of international business in light of key ethical philosophies and considering the diversity existing in our world. Special attention is give to the SA 8000
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Enron: Questionable Accounting Leads to Collapse In the case of Enron‚ it comes down to pure greed and a lack of accountability. From the top‚ there was illegal activity with Ken Lay‚ Jeffrey Skilling‚ and Andrew Fastow who raided the company as though it was their own personal bank. On top of that‚ the culture of the rest of the company was to make as much money as they could and employees were rewarded by the amount of profit they could make without questioning the ethical means to do so.
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reported by the relatively small Singapore office. The Nick Leeson case must be considered a textbook example of the perils of concentrating unchecked power in the hands of a single individual‚ and serves as a backdrop for a discussion of the roles of ethics in the business world‚ and the role of the board of directors in ensuring that the interests of shareholders and other stakeholders are respected. In this paper I will examine 3 things: First‚ what legal actions could be taken against Nick Leeson
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Risk Breakdown Structure ID RBS Element Definition 1.0 1.1 1.1.1 1.1.2 Internal Business Partner Business Sponsorship Business Department Staffing Business Processes Corporate department with the business problem to be solved or business function to be supported. Business case‚ support from business department‚ executive involvement‚ degree of active involvement by business sponsor. Business analysts reporting within business department‚ how dedicated or fragmented business department reps
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Settled a shareholder class-action suit for $457 million. SEC fined ArthurAndersen $7 million. Fun fact: After the scandal‚ new CEO A. Maurice Meyers set up an anonymous company hotline where employees could report dishonest or improper behavior. Enron Scandal (2001) Company: Houston-based commodities‚ energy and service corporation What happened: Shareholders lost $74 billion‚ thousands of employees and investors lost their retirement accounts‚ and many employees lost their jobs. Main players: CEO
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Major changes in rules and regulations Since the Enron collapsed an array of new laws and regulations has been adopted to tighten corporate oversight. US offices were the first one to come out and implement the policies. Almost all of the firms had their headquarters in the US and they replicated their headquarters policies to a good extend in other offices around the world. Also other governments and regulatory bodies around the world came out with their country specific rules and regulations which
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Good morning/afternoon Mrs Morgan and fellow class members. Good poetry makes you think and feel about issues and ideas raised by the poet. Judith Beveridge explores the beauty of nature and man’s relationship to it. Judith Beveridge shows the cruelty of humans towards animals and nature in her poems. The first poem I have chosen to talk about is “The Shark”. This poem is about a bunch of fishermen on a boat‚ who catch a shark and later discover that the shark has eaten a young boy. “The
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What are amylases? Amylases are enzymes that break down starch or glycogen. Amylases are produced by a variety of living organisms‚ ranging from bacteria to plants and humans. Bacteria and fungi secrete amylases to the outside of their cells to carry out extracellular digestion. When they have broken down the insoluble starch‚ the soluble end products such as (glucose or maltose) are absorbed into their cells. Amylases are classified based on how they break down starch molecules i. α-amylase
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