...ETHICS Introduction The behaviour of the practicing management accountant is prescribed and regulated by the management accountant's personal code of ethics, the code of ethics of the employer, societal norms, and the law. In addition members of the Society are regulated by the Society's code of ethics. As more organizations adopt codes of ethics, management accountants will increasingly be asked to design systems to control, evaluate, interpret or apply ethical judgement. The following develops the basis for forming ethical judgements. The management accountant fulfils four broad roles concerning ethics: 1. to ensure that management has developed and installed a comprehensive and internally controlled code of ethics. 2. to verify that the code of ethics and its controls are comprehensive and that everyone in the organization understands and complies with it. 3. to report to management any deviation from the code of ethics and its control systems. The Board of Directors may ultimately have to address any failures in the code or its controls. 4. to act in accordance with the code of ethics in making personal decisions. What are Ethics and Morals? Ethics are the rules people use to define and regulate moral behaviour. Morals distinguish right from wrong. Descriptive ethics are codes of ethics as actually practiced. Descriptive ethics provide no value judgements. Normative ethics, or moral reasoning, develops statements about whether a practiced ethical system is good or bad...
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...1. How can professional codes of ethics help marketers to make the correct choice? Professional codes of ethics offer direction to marketers to make the correct choice. The American Marketing Association’s Code of Ethics for Professional Conduct provides marketers with conceptual guidance regarding ethical values such as honesty and fairness and the rights and duties of parties in the exchange process. The AMA code asks members to apply the basic rule of professional ethics, which is to not knowingly do harm. It also asks members to follow all applicable laws and regulations. 2. Describe the role of the Ethics Officer in a corporation. What are the fundamental building blocks of a good, comprehensive ethics program that is created for the purpose of educating employees? The role of the Ethics Officer is to ensure that the corporation’s ethics and values remain from and center to all employees and in the business practices. Also, Ethics Officer is responsible for the global ethics office, which is created to provide guidance, education and training to all of the employees and to help them comply with the code of ethics in their work environments. 3. What are some of the issues relating to online marketing and ethical conduct? Because of the powerful new technologies such as Internet, today’s sales people are pushy, invasive, and disruptive. Although consumers have complained fiercely to state and federal lawmakers, spam, telemarketing, paid inclusions and other...
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...Introduction Accounting is a system, and its practice is a workmanship or art created to individuals screen their monetary exchanges. Accounting gives individuals a money related photo of their undertaking. Its unique - and continuing – crucial reason for existing is to give data about the financial dealings of a man or association. At first, just the individual or association required the data. The legislature required the data. As the economy turn out to be more intricate and controlled, the quantity of the individuals who required the data – the quantity of client of monetary proclamations – expanded. The degree of the significance of the data to the client builds the moral variables administering the improvement and payment of that data....
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...Response Journal 2 - Ethics Ethics is one of the most common concept that every engineers must know before starting their career life. The code of ethics for engineer was created so that engineers can follow these codes and do not attempt to make any error intentionally. It is a set of rules and obligations that set a standard for an engineer’s decision. In other word, the code of ethics required every engineers to be honest, fairness, equity, and must be dedicated to the protection of public health, safety, and welfare. (Engineers, 2007) The short story “The adventure of the Engineer’s thumb” written by Arthur Conan Doyle is a good example regarding engineering’s code of ethics. The story was told to Sherlock Holmes, began in London 1889 about a young hydraulic engineer, Mr. Hatherley. Hatherley was offered to fix a hydraulic machine with a salary of 50 guineas by a person who identified himself as Colonel Lysander Stark. However, the job has to be perform around mid-night although rather to be just around an hour, out of town in Berkshire. Hatherley could not resist to accept a good offer because his gross taking was only 27 pounds 10s every day. Stark wanted the job to be performed at midnight because he did not want his neighbors to acknowledge the valuable of the land around them. There were large deposit of fuller’s earth under the land. Later on, after arriving to Stark’s place and took an inspection of the press machine, Hatherley discovered the floor consist of...
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...Running Head: COUNSELING AND SOCIAL JUSTICE Stepping up Counseling Responsibilities in a Socially Unjust Society Abstract Social Justice has been an emerging issue over the last century in today’s service environment of helping professionals. I reviewed several articles where the main theme is; we live in a world of systems that allow for injustice and oppression. The Professional Counselor’s work deals with many of the symptoms that permit for this injustice and oppression. The articles had similar recurring traits that are stressed as important practices that need to be adopted by Professionals in the helping field to increase awareness of social justice and implement actions for change in a socially unjust society. I will explain the four main attributes: knowledge, awareness, research and advocacy and explain how education and focus in each area will contribute to the social justice inequities in the communities we practice. If professional counselors want to promote social justice, to be effective, there has to be a movement to take action on the burdensome stigmatisms and unfortunate inequities that human beings bring to professionals about the communities they live in. Social justice and the counseling profession have roots that goes back to the 1900’s. It has always been understood from a social work point of view that problems such as depression, anxiety, and abuse often derive from economic...
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...Code of Ethics: American Counseling Association (ACA) versus American Association of Christian Counseling (AACC) Kristen Howard Liberty University Abstract The American Counseling Association (ACA) and the American Association of Christian Counselors (AACC) have unique Codes of Ethics as they relate to each profession. The ACA Code of Ethics was designed as a set of guidelines for counseling professionals to adhere to for keeping their sessions ethically in line, to help society’s quality of life and indorse respect for every human’s dignity and diversity. The AACC Code of Ethics was created for the Christian Counselor community in an effort to assist counselors with not only boundaries of unethical counseling practices, but also, provide education for counselors in becoming helpers with ethical excellence capable of securing the best outcomes in counseling for their clients. The AACC Code of Ethics takes what the ACA Code of Ethics entails and expands it further with the foundation of biblical principles to help the counselor and clients. Both ethics codes were designed to create the best counseling result for both the professional counselors and their clients. The differences and similarities between the ACA and the AACC Codes of Ethics will be addressed in greater detail, along with three specific areas of ethical concerns: informed consent, counseling fees, and sexual intimacies. Code of Ethics: American Counseling Association (ACA) versus ...
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...Ethics in Psychological assessments Consider the American psychological Association writing the first formal code of ethics in 1942, detailing professional use of assessments. Addressed were qualifications for the test users, responsibilities, principles, guidelines, application and use of assessments for psychologists. Additionally the American counseling Association code of ethics provides expectations for conduct with the primary emphasis being on the role of the professional counselor. Again MFT provides the some code of ethics in which to provide expectations of the licensed Marriage and Family therapist. Examples of provisions within those guidelines for the use of assessments, but more specifically the responsibility of the professional counselor, plus implications for not following ethical decision making model of principles. While considering the foundation set forth by those professionals with wisdom, experience and knowledge whom submitted a draft for approval, the American psychological association created an empirically developed code that was based on ethical dilemmas. Although the American Psychological Association had been in existence since 1892 with no formal code of ethics for over 59 years, there was a scientific /professional ethics, and code of conduct observed in 1950. A survey was used to gather actual descriptions of professional activities providing that guideline which set precedence for years to come in the APA profession. This was done with the...
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...Ethical Standards and Codes Jamaica R. Webster Survey of Professional Psychology/PSYCH 545 March 21, 2010 Dr. Mary Helen McGreevy, Psy.D Abstract This paper will prepare an explanation of ethical standards and codes. Ethics is a word that can be described or defined with a variety of meanings. This paper will analyze the impact of societal norms on the development of ethical standards and codes. This paper will also evaluate the impact of the American Psychological Association’s (APA) ethical standards and codes on professional practice in the field of psychology. This paper will also explain the importance of professional ethical standards and codes in the field of psychology. Ethical Standards and Codes Ethical standards and codes were set up by the APA. This code of ethics is a policy for all psychologists or other medical health professionals to follow the rules or law. In the field of psychology or other medical professional field, our paper will define ethical standards and codes, analyze the impact of societal norms on the development of ethical standards and codes, evaluate the impact of the APA ethical standards and codes on professional practice in psychology, and explain the importance of professional ethical standards and codes in psychology. Definition of Ethical Standards and Codes Ethical Standard are principles, which when followed, promote values such as trust, good behavior, fairness, and/or kindness. There is not one consistent set of standards...
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...Motivation is a driving factor in an individual’s work performance. Employers take this matter very serious because it would be a waste of money, time, energy, and expense to develop ones skills if not properly motivated. Many leaders believe to succeed in business motivation must be within their employees. In business each company must set a code of ethics. A code of ethics is a set of written guidelines issued by an organization to its employees and management regarding conduct of actions in accordance with its primary values and ethical standards. Wal-Mart’s Code of Ethics has specific functions. These functions for Wal-Mart are to provide its personnel, administration, and board of directors an orientation that abides by a business course of action, principles, and ethical standards. Development of the Code of Ethics helps Wal-Mart set the expected standard for daily activity. This evaluation focuses on Wal-Mart, which is the number one fortune 500 company in the world. General information about Wal-Mart along with its mission statement and ethical system will be included in this evaluation. Modification of the existing policy, effects of organizational culture, expected reactions from employees and managers, and the effect on the organization itself. Wal-Mart was developed in Northwest Arkansas in 1962 by Sam Walton with help from his brother J.L. Walton also know as Bud. The mission of Sam was to save people money that helped establish a better affordable...
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...The Evolution of Business Jennifer Sterkenburg OMM 640: Business Ethics and Social Responsibility Instructor Whitten September 4, 2013 The Evolution of Business Since the term “business” became a word everyone was familiar with, the purpose and principle behind business ethics and values was created. Even though no one in this day and age can be 100% sure how businesses were created, and how entrepreneurs were able to provide a sense of stability for themselves and their families, we can see how they evolved; the companies we know today would not exist without the men and women who created businesses throughout history. Over the last several decades, companies have developed a sense of business ethics that have defined the reputation of companies and the mission that drives the company. From the 1960s to today, people have been concerned with different ethical issues and have managed to develop a society where those issues have made them stronger. According to the Ethics Resource Center (2009), the 1960s caused the most strain on people and their ethics, and it grew the society into one of the most significant eras in American history. The dilemmas that surrounded the 60s were nothing short of tension and domination. For example, the Civil Rights issues dominated the minds and hearts of that particular generation, the escalation of drug use, as well as how the tension between employee and employer grew are just to name a few of the problems that had to be dealt...
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...Business Research Report Ethics and Business Operations Table of Contents Executive Summary 3 Introduction 4 Research Findings 4 Business Ethics Increase Efficiency 5 Ethics boost the company Reputation 7 Effects of Ethics on inner company relationships 7 Recommendations 8 Conclusion 10 References 12 Executive Summary The primary goal of this paper is to provide a comprehensive review on the effects of business ethics and efficiency in the workplace. It will also draw parallels between ethics, efficiency and reputation of the company, as well as ethics, efficiency and the relationships of the business between the company executives and lower level employees. In such a competitive business market, companies place a large amount of pressure to employees to produce. Even as business students, we are wired to succeed, pass, win. We develop the mind frame of “by any means necessary” and that’s where the trouble begins. Once in that mind frame employees, management and even executives are tempted to break the rules, play dirty etc, all in order to not only reach the goals, but the fastest or the best. Companies have focused so much on the result, that the path there has been over looked. We called this “efficiency” if it was done fastest or cheapest. Meeting goals, and being profitable is a clear goal for mostly all businesses, but the question is how we go about doing this. We have all heard the saying “ time is money” and in trying to beat the clock, beat...
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...Representative Michael Oxley in 2002 created the Sarbanes-Oxley Act, also known as the SOX Act. These people drafted this act to protect public companies by regulating the truthfulness along with the consistency of financial accounts. The SOX Act put in place new rules and laws for corporate accountability as well as new penalties. It changed how corporate boards and executives interacted with these auditors. It eliminated the excuses from chief executive officers and chief financial officers. Instead it held them liable for the correctness of financial statements. The SOX Act specifies new financial reporting responsibilities, including accuracy regarding new in-house controls and measures designed to ensure the reliability of their financial records. The SOX Act requires financial reports to include an internal control report. It is designed to show that not only are the company's financial data correct but also the company has confidence in them because satisfactory controls are in place to protect financial data. Financial reports must contain an evaluation of the success of the internal controls. The auditing firms are required to confirm to that assessment. The auditing firm does this after reviewing controls, policies, and procedures during a Section 4040 audit, conducted along with an established financial audit. Roles that ethics plays in business today with the SOX Act require publicly traded companies to have a code of ethics. A code of ethics is important to promote...
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...diverse workplace. In fact, they created a diversity statement to ensure the comfort ability of their employees. The diversity statement that was created discusses how their employees are the key to their success. Frost Bank is committed to “attracting, retaining, and promoting top quality talent regardless of gender, race, color, national origin, age, religion, physical ability, and any other difference that makes us unique.” The way that Frost Bank chooses their candidates for employment is selecting the most qualified person that has applied for the available position. Frost Bank rewards and recognizes their employees for their individual achievements and success. The diversity statement states, “We are dedicated to providing a workplace for our employees that is inclusive, supportive, and free of any form of discrimination and harassment.” Frost Bank believes that being able to understand the financial needs of the customers; they need to have a workforce that reflects the communities. Frost Bank’s main priorities are supporting and understanding the community. To lessen the burden of miscommunication within diversity, The tasks of planning, leading, organizing, and controlling must be distributed evenly throughout the levels of management. Using this tactic can ease top management positions so they can concentrate on higher corporate responsibilities. Ethics within Frost Bank- Frost Bank follows a code of ethics to address staff conduct. The code focuses on a fiduciary duty...
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...hiding unethical decisions they make, history has shown that sooner or later they get caught and their whole organization goes up in flames very quickly. To maintain our company’s reputation and good name it is vital for us to uphold a very high ethical standard and code of ethics. This will give our employees direction when they are faced with an ethical situation. Below are two strategies that I believe will help to ensure that ethical decision making takes place at all levels of our organization. The first strategy I would feel is essential for our organization is creating a code of ethics. Skill soft points out that, “An organization's code of ethics should be like a navigator's guiding star. The code of ethics provides a reference point that helps members find their way when they're unsure of the right course of action. To provide that point of reference, a code of ethics should embody an organization's highest ideals or a company's best practices. The code should set the standard that all members strive to meet.” Our employees’ encounter different situations every day, many of which could be unethical because they are not sure which decision is the right one. By setting our own companies code of ethics we will be enabling our employees to have a reference when faced which a difficult situation. This will make many hard decisions seem easy because there is a “rulebook” in place that helps point out the right way. Another strategy that would benefit our company would...
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...M. Jones Professor Mark Malone BUS100058VA016-2411-016: Intro to Business February 24, 2013 Abstract The Code of Ethics and the Code of Business Conduct for the Cheescake Factory. “Oscar and Evelyn Overton realized their dream - to own a successful business. Evelyn created her Original Cheesecake recipe that everyone loved. By the late 1940's, she opened a small shop in Detroit. In 1972, Evelyn and Oscar, now in their early 50's, decided to move their cheesecake business to Los Angeles. 1975 marked the beginning of the most creative and productive period of their business endeavors. With their new and improved bakery, Evelyn created over 20 varieties of her delicious cheesecakes and other fantastic desserts. The restaurant was an immediate success! Just over 30 years later with close to 170 locations, the success of The Cheesecake Factory has even surpassed the Overton’s wildest dreams making The Cheesecake Factory a great American success story.” http://www.thecheesecakefactory.com/aboutUs. All organizations and businesses have a standard by which they hold their employees too. A code of ethics and in the business world there is the “Code of Business Conduct.” The Cheescake Factory has both. There is the Code of Ethics for Executive Officers, Senior Financial Officers and Directors. The Cheescake factory also has a Code of Business Conduct. A Code of Business Conduct serves as a guide for the actions of employees to be consistent with their company’s values. ...
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