...profit was decrease, it has caused their management start to renegotiate many loans. Ben Hunt who is the audit partner on the Prairieland Bank was concern to give an opinion on the fairness of their business financial statement. This is because the provision for doubtful loans is too low even they have taken many loans. During the interview to discuss this problem with the CEO and Vice President of finance, he was told that they already know it but they didn’t want to increase the provision as their profit will decrease. In addition, Ben was told that they had approached a company that provided insurance to protect their leased equipment. So, any default on their loans was made up from the insurance company and because of this too they didn’t want to increase their provision loans. Due to this problem, Ben has find James London which his senior partner on his firm to seek consultations from him. They decided that the best course of action was to visit the client and indicate theirs intend to resign, which they did. By coincidence, James meets Jack Lane who held responsibilities similar to his own at one of the competing firm. Jack is actually is a new auditor who replace their position in Prairieland Bank. Issues from the case: The issue from this case is whether James should resign or serve to the Prairieland Bank. If James resigns, this will give benefit to the Prairieland Bank as they could increase their profit by taking more loans. In addition, they can adjust their provision...
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...Business Ethics Case Study #1 - A Good Team Player Having done well as a staff accountant in the accounts payable section of a major industrialfirm for several years since his graduation from college, Steven felt that he had learned muchabout the “ins” and “outs” of survival in an intensely bureaucratic organization. It is thus notsurprising that he was relaxed and unconcerned about his circumstances at the company ashe entered the employee lounge to attend the late-afternoon welcoming reception for his newsupervisor. The new manager of accounts payable, Kristin, had been transferred to Steven’s divisionfrom a similar position in another subsidiary of the company because of her proven talent fororganizing and improving the efficiency of operations there. A no-nonsense type ofmanager, Kristin was experienced and determined to perform her new assignment with thesame vigor that had brought her so much success throughout her career. At the reception, Kristin circulated through the room, introducing herself to her newsubordinates and asking each of them if they had any suggestions that would help make thepayables section a better place to work. When she approached Steven, he told her aboutsomething that had been on his mind lately: that people seemed to him to gain promotionsand be given opportunities to work overtime based on who liked them, and not on the qualityof their work. In reply, Kristin politely stated that she would do everything that she could tosee that whatever...
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...case of an executive’s double standard is just another evidence of the fact that the real life is so complicated that the common rules, including moral and ethical ones, cannot fully regulate it and often it is necessary to make very difficult decisions getting through double standards. In fact the case of Jack who revealed the fraudulent use of corporate funds by one of the veterans of BMI, Troy Sozuko, seems to be not an exception and the dilemma he has to solve, being quite complicated, is a typical case of double standards existing not only within the whole company but also on the personal level. It is obvious that Troy Sozuko really violated not only legal but also moral norms since he simply used corporate funds for his personal purposes and his gift was perfectly proved by Jack’s investigation. Moreover, it should be said that the executive’s gift is evident also because a thorough and independent investigation was held. This is why, there are no reason to blame Jack in some personal reasons to dig evidences of Troy’s fraud. At the same time, the fraudulent use of corporate funds by one of the veterans is not so striking and even shocking as the attitude of the ethics officer Matt Thompson to the case since, initially, he practically ignores the allegations and attempts to...
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...North American company, Western Systems Inc formed joint venture, known as Joint Venture Inc. Both companies played significant role in business are they were - Western Systems Inc had around 50,000 employees worldwide. Korean Conglomerate Inc was an industrial group consisted of more than 40 companies. During joint venture, several projects were launched, several project teams were established for working on different areas of the project. There were established Systems Implementation team consisted of five Korean consultants, one translator, and three North American consultants. Two co-supervisors were assigned to this team - Ellen Moore from American consultants’ side and Jack Kim from Koreans’ side. Consulting project was estimated to be one of the largest undertaken in South Korea to date. Problem There are several factors that affect project results: Cultural gaps between two nations – western and eastern Korean culture has different values than in the North American culture. Korea has long historical influence from religion and philosophy, like Confucian. It has a big impact on persons in business and the business etiquette in Korea. There are several actions what are may be considered as insignificant in western business area, here are very important, like the exchange of business cards, to know how to address a Korean by name, or replenishing a colleague’s drink at dinner, etc. Koreans took care that Confucian thoughts of loyalty to a hierarchical structure...
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...Table of content 1. Question a 2 2. Question b 5 3. Question c 6 4. Question d 9 5. Question e 10 6. Question f 11 7. Reference 16 a) As the auditor, describe the concerns you have that may suggest fraud is occurring in the company. The Fraud Triangle ©2012 Prentice Hall Business Publishing, Auditing 14/e, Arens/Elder/Beasley The fraud triangle originated from Donald Cressey's hypothesis (Donald R. Cressey, 1973). The fraud triangle is a model for explaining the factors that cause someone to commit occupational fraud (acfe, n.d.). Type of fraud: Management fraud Fraudulent financial reporting Misappropriation of assets. (Arens/Elder/Beasley, 2012) ©2012 Prentice Hall Business Publishing, Auditing 14/e, Arens/Elder/Beasley At the types of fraud, usually the Management fraud are including fraudulent financial reporting and the misappropriation of assets. Why the company will occurs the fraud, because the employees and managers have incentive, opportunities and attitude...
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...Ethics and Leadership Report Vincent Renda Applied Leadership - mgt331 Baker College Dr. Julia Teahen 3/28/16 Provide a brief summary of the movie you chose. Be sure to provide a description of each major character, their leadership style, and why you believe they were important to the story. Brief Summary Movie-APOLLO 13 NASA’s Apollo 13 mission was a mission to the moon, but because of mechanical problems the Apollo 13 not only failed to reach the moon, it was almost lost. The Apollo 13" mission showed men solving problems with their intelligence, their skill sets, bravery and most of all teamwork. This mission raised issues of loyalty for the individual against the loyalty of the team as a whole. It represented how the success of the mission became more important than the need of the one. Ken Mattingly one of the astronauts that was supposed to be on the Apollo 13 mission but was cut for a “maybe” health issue, played the role of the person who saved the mission. He showed that even with bad luck that prevented him from being on the mission, means even if you are not on the first team, you can still play the most important in saving the mission and become a hero. Each astronaut, was a positive male role model in their own right. (NASA, 2016). Major Characters Jim Lovell: Apollo 13 commander, was the world’s most traveled astronaut. He participated in three mission and had 572 hours of spaceflight experience. He demonstrated transformational...
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...Critical Thinking and Ethics For this paper, I was asked what the relationship between critical thinking and ethics are. In order to answer that question, I must first answer the question of what is critical thinking and how are ethics related to it. One thing that is certain about success in any and all aspects of life is that you must have at least basic critical thinking skills and a strong foundation of ethical belief. Critical thinking entails being able to appreciate all sides of an issue, as well as at least small level of ethical integrity; being able to differ right and wrong at all times. There are six steps in the critical thinking process which will help you better be able to take advantage of the process. The first step in the process is remembering, or asking yourself can you recall the key terms, facts, or details. Then you have step two, or understanding, can you explain the details in your words. Next we have step three, or applying, can you use the idea to produce the desired result. Step four, or analyzing, what are the steps or procedures used in the process. Next is step five, or evaluating, can you rate the truth, usefulness, or quality of the idea and give valid reasons for said idea. Then finally there is step six, or creating, can you create something new based on this idea. Using a tool called the Ethical Lens Inventory we can determine how our ethics dictate or influence our critical thinking ability. For example, I use my reasoning...
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...1 The team that wasn’t Opeyemi Odugbesan High Performing Organization Professor: Dr. Faye Sisk January 24, 201 2 Problem: The first problem noticed is the financial problem Fire Art Inc. is undergoing. New companies had started entering Fire Art’s niche, and the chance that the company might start losing its customers to the new companies is now more evident than before. The CEO, Jack Derry the grandnephew, to the company’s founder decided the company has to make fast adjustment in the next 6 months to save the company’s image. The second problem noticed is no clear direction defined by Eric Holt. Eric didn’t share with the team what each person will work on, what each person will contribute, the time frame needed to get it done, the roles each person as to play in the team, and the expected outcome of the team goal or even what the goal was initially. Assumptions: Here are 5 assumptions to consider:- 1. Jack believes Eric had the skill set to create a team to fix the current issue of the company 2. Jack feels Eric didn’t need any guidance or support. 3. Eric thinks getting the directors from each division to form a team was all that was needed to build a team 4. Eric had the notion that since he had the past experiences he was in a better hope to build a team. 5. Since Randy was close friend to jack, Eric feared he was at a disadvantage to getting Randy’s support. 3 6. Randy over confidence attitude made him believed he...
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...Physician-assisted suicide is; suicide by a patient facilitated by means or information (as a drug prescription or indications of the lethal dosage) provided by a physician who is aware of how the patient intends to use such means or information (Merriam-Webster, n.d). For over ten years, there has been much controversy about the ethics and legality of physician-assisted suicide (PAS) not only in the United States but also worldwide. In 1997, the Supreme Court had a unanimous ruling that there was not a constitutional right or a constitutional ban to PAS. Since then almost every other state have opposed legalization of PAS. There are many terminally ill people that feel assisted suicide should be their choice, not something left to the government for debate. Assisted suicide should be legal in all states because those who suffer with a terminal illness that want to die should be able to end their life peacefully instead of living in agony. Almost everyone that lives in the United States has rights; the right to free speech, the right to life, liberty, and the pursuit of happiness, but those that are dying from a terminal disease do not have many rights. They do not have a right to seek help to end their pain and suffering. They lose the right to be in charge of their own life. The pursuit of happiness seems to not exist for those that wish to end their life. For some having their pain and suffering ended would make them “happy” because they no longer have to live with pain...
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...is right and what is wrong. But making the decision between right and wrong isn’t as simple as it seems. Lots of factors go into the situation and make it difficult to choose the best outcome. An example of a situation is in the article, “A Question of Appearances”, where Maura, an HR director for a fast-growing information technology company, has to make a decision that could either benefit the company great financially, or cause a very valuable employee to quit. Background Techno Inc. is an up and coming company in the information technology industry. Jack Ridge is Techno’s Vice President for sales and marketing. He has been working very hard to sell a major contract to a company called Apex Co. Sealing the deal would mean a multimillion-dollar contract with Apex Co. This would be huge financially for Techno Inc. and this is why Jack is going to do everything in his power to seal this deal he has been working on. Jack is fairly confident, but there is just one part of the deal he is uncertain about. “Apex executives impressed on him that the company is very...
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...Term Paper: The Right to Have Children The right to have children is understood in very different ways and people’s ethics and values are put to the test each and everyday when they find out they not only must take care of themselves but the lives of another human being. The Universal Declaration of Human Rights adopted this statement regarding the right to bear children “men and women of full age, without any limitations to race, nationality or religion, have the right to marry and found a family”[1]. This concept has been viewed in multiple ways and according to ethical theorists; they agree that no rights are absolute. However, it is said that for women at least, there is a fundamental privilege to have children. The right to life is a universally recognized right for all human beings. It is a fundamental right in which governs all other existing rights. For children, the right to life is the chance to be able to live and have the possibility to grow, to develop and become adults[2]. This right comprises two essential aspects: the right to have one’s life protected from birth and the right to be able to survive and develop appropriately[3]. The right to parenthood can be a very delicate matter. Many people have different views when it comes to procreate and parent children. An example of this was a case about a man from Wisconsin who was placed on probation because he was unable to pay child support for all nine of his children. During his probation, he was to...
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...Personal Ethics Ethical choices are a very personal aspect of our individual being. What one considers to be ethical may not coincide with someone else’s principles, norms, or standards of conduct. Generally laws and regulations in the United States are passed by the majority not by the few opposing entities. It is our character that plays a great role in how we would vote on important issues and the difference in our character is the reason for a complete breakdown of the ethical systems (Treviño & Nelson, 2011). Ethics, values, and morals are the building blocks of our very character with in the ethical system. The ethical system is segregated into six categories: Duty-based, entitlement-based, goal-based, humanistic, relativistic, and rights-based. Of these six, I happen to best be described under the duty-based ethical system. I feel morally obligated and committed to behave and act in a certain manner that is consistent with my beliefs and upbringing. Having been born to a Catholic family, I was raised learning right from wrong in a clear-cut, black and white sort of way. My parents were the typical Hispanic parents, dominant disciplinarian father and loving, soft-spoken mother. Growing into adolescence I changed my religious point of view and a couple of my morals with them. Becoming a Christian posed greater challenges and self-sacrifice but it was for a greater purpose than to please myself. It was during my early teens that I made my life-long friends and...
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...his boss’s decision directly to the notion that he doesn’t like foreigners (Heather is Chinese) and completely ignored the fact that she has been taking a large number of sick leaves. From Heather’s point of view taking a three day retreat won’t actually solve this anti-social attitude among the employees within the organization. As for Jack, the reason he doesn’t want to attend the retreat is also for not getting a promotion to the director post. He stated that he didn’t get the promotion because of himself being black. Also he pointed out to increase the security by investing the money that was financed for the retreat as he accused the staffs for taking out a lot of office supplies. He also emphasized on launching a socialization program in order to increase workplace relationship. Another employee, named June, complained about her work being too stressful. She also said that the senior management didn’t pay notice to her demand of hiring more service representatives which will ease her work. She also complained regarding the customers of not using their common sense and calling for every tiny bit of issues they are having. These problems are attributing to her depressed and stressed life and also ruining her marriage. As for Alison, who...
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...his boss’s decision directly to the notion that he doesn’t like foreigners (Heather is Chinese) and completely ignored the fact that she has been taking a large number of sick leaves. From Heather’s point of view taking a three day retreat won’t actually solve this anti-social attitude among the employees within the organization. As for Jack, the reason he doesn’t want to attend the retreat is also for not getting a promotion to the director post. He stated that he didn’t get the promotion because of himself being black. Also he pointed out to increase the security by investing the money that was financed for the retreat as he accused the staffs for taking out a lot of office supplies. He also emphasized on launching a socialization program in order to increase workplace relationship. Another employee, named June, complained about her work being too stressful. She also said that the senior management didn’t pay notice to her demand of hiring more service representatives which will ease her work. She also complained regarding the customers of not using their common sense and calling for every tiny bit of issues they are having. These problems are attributing to her depressed and stressed life and also ruining her marriage. As for Alison, who...
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...whom an organization's activities have an impact. It was used to describe corporate owners beyond shareholders as a result of an influential book by R. Edward Freeman, Strategic management: a stakeholder approach in 1984. Proponents argue that corporations make more long term profits by operating with a perspective, while critics argue that CSR distracts from the economic role of businesses. Others argue CSR is merely window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. CSR is titled to aid an organization's mission as well as a guide to what the company stands for and will uphold to its consumers. Development business ethics is one of the forms of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. ISO 26000 is the recognized international standard for CSR. Public sector organizations (the United...
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