Premium Essay

Memo Addressing Core Issues on Topic of Ethics in Finance

In: Business and Management

Submitted By obertron
Words 1432
Pages 6
Memo addressing core issues on topic of Ethics in Finance
Winter 2011
Hsiu Chang

Ethic is useful because it makes business stable and predicable. In a game, a cheater who is not caught will continue to reap huge rewards. However, if the trend continue, it will encourage other players to cheat or leave the game because they are being driven out of business. If a business operator always has to wonder if the other side is playing by the same rule, if a customer constantly wonder if the vendor is overcharging for the invoice, then business slow down, becomes inefficient. However, many cheaters are not caught or punished. "Business Ethics" is the third episode of the fifth season of the television series The Office. One of the female purchasing officer has been sleeping with a vendor in order to get discount for the entire purchasing department, and Outback Steakhouse coupons. When this is discovered, the head of the company turned a blind eye because it is good for the balance sheet (Wikipedia, 2011). Having good ethic provides a clear conscience, and if there was an ethical problem, shared the advantage gained by cheating with the entire team will once again clear the conscience. Ethic in finance is important because it will provide a clear picture of the company. The leader of the company cannot see where the company can go if they do not know where the company is. However, accountant in a non-public company works for the leader and this agents’ fiduciary duty lies only with his or her principal. In this case, if the leaders asked the accountant to keep two set of books in order to make the company look more appealing before a public offering, then the accountant can justify this action as ethical.
I included a quote below, where the environment of business promotes questionable behaviors in some firms.
Unethical behaviour in business more...

Similar Documents

Premium Essay

Bangladesh Garments

...Abstract This article presents the role of communication research in the clothing industry in Bangladesh. The aim of our research was to show how these clothing and textile companies use a marketing communication mix for the promotion of products and brands. Our findings suggest that a properly used marketing communication mix is a factor for success in the Bangladeshi clothing industry. The research results address three groups of companies. Companies with a more developed brand name place more importance on advertising in the marketing communications mix, while the second and third groups of companies give more importance to personal selling. Differences between the groups are obvious, and these correlate to the development of a brand name. The ready-made garment (RMG) industry of Bangladesh started in the late 1970s and became a prominent player in the economy within a short Period of time. The industry has contributed to export earnings, foreign exchange, employment creation, poverty alleviation and the empowerment of women. The export-quota system and the availability of cheap labor are the two main reasons behind the success of the industry. In the 1980s, the RMG industry of Bangladesh was concentrated mainly in manufacturing and exporting woven products. Since the early 1990s, the knit section of the industry has started to expand. Shirts, T-shirts, sweaters and jackets are the main products manufactured and exported by the industry. Bangladesh exports its RMG......

Words: 5615 - Pages: 23

Premium Essay

Wierich Solutions

...INTRODUCTION TO PROFESSIONAL RESEARCH Discussion Questions 1. Research in general involves the investigation and analysis of an issue in question. The researcher usually applies reasonable and reflective thinking to develop an answer to the issue or problem at hand. Research requires a clear definition of the problem, using professional databases to search the authoritative literature, reviewing and evaluating the data collected, drawing conclusions and communicating your results. 2. Accounting, auditing, or tax research involve a systematic and logical investigation of an issue or problem using the accountant’s professional judgment. Furthermore, accountants approach this problem using critical-thinking skills to obtain and document evidence underlying a conclusion relating to an issue or problem currently confronting the accountant or auditor. 3. Accounting, auditing, or tax research are necessary in order to determine the proper recording, classification, and disclosure of economic events; to determine compliance with authoritative pronouncements; or to determine the preferability of alternative accounting procedures. 4. The objective of accounting, auditing, or tax research is a systematic investigation of an issue or problem utilizing the researcher’s professional judgment to arrive at appropriate and timely conclusions regarding the issues at hand. 5. Research plays an important role within an accounting firm or department. It is critical for the......

Words: 6804 - Pages: 28

Premium Essay


...Instructor Guide CORPORATE FINANCE COURSE NUMBER: MBA591 [pic] Jones International University®, Ltd. 1.800.811.JONES (5663) ©2008 Jones International University®, Ltd. All rights reserved. 9697 East Mineral Avenue, Englewood, Colorado 80112, USA This workbook and all accompanying audio-visual material, manuals and software (collectively, the "Materials") are copyrighted with all rights reserved. Under the copyright laws, none of the Materials may be copied in whole or in part without prior written consent of Jones International University®, Ltd. (JIU™) You may permanently transfer all of your rights in the Materials, provided that you retain no copies, and provided that you transfer all of the Materials (including all component parts, media, documentation and any prior versions and upgrades). You may not copy or allow any copies of the Materials to be made for others, whether or not you charge anyone else for the copies. Limitation of Liability. JIU™ PROVIDES ALL OF THE MATERIALS “AS IS” WITHOUT WARRANTY OF ANY KIND. EACH OF JIU AND ALL ITS DEVELOPERS, TEACHING FACULTY, DIRECTORS, OFFICERS, EMPLOYEES OR AFFILIATES DISCLAIM ALL OTHER WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT AND FITNESS FOR A PARTICULAR PURPOSE. IN NO EVENT WILL JIU OR ITS DEVELOPERS,......

Words: 13856 - Pages: 56

Premium Essay

Mount Cedar Tech

...Mount Cedar Technologies, Inc. Case Analysis Group: Tropic Thunder BUS 655: Designing Effective Organizations March 5, 2011 Table of Contents Introduction & Mission Statement 3-4 Organizational Culture & Structure Techniques for Motivation Effective Work Groups & Teams Decision Making & Communication Leadership Diversity & Training, Empowerment Change & Development Conclusion Mount Cedar Technologies, Inc. A Case Study in Designing a High Performance Organization Introduction Mount Cedar Technologies, Inc., aka Cedar Tech, is an IT infrastructure integrator specializing in hardware and software products, storage and security solutions, and technical services to Enterprise, Small and Medium Businesses, and to Government, Educational, and Medical Institutes. Cedar Tech is located in Los Angeles, California and was founded in August 1995 by John Curtis and Frank Mathew who were longtime friends and classmates. The company was originally an importer and distributer of computer cables, audio/video cables, surge protectors, and a host of computer accessories. In the fall of 1998, Cedar Tech added new products to its offering when it became a provider of third party technology, including hardware, software, and services to corporate customers. Its new product offerings included computer and networking accessories, computers, peripherals, printers, displays, printer......

Words: 9039 - Pages: 37

Premium Essay

Anti-Corruption in Emerging Markets

...Executive Summary In this research paper, we attempt to explore initiatives introduced by the United Nations in support of anti-corruption in emerging markets, such as Principle 10 of the United Nation’s Global Compact. We determined to explore this topic area after realizing a paradox: while the United Nations has recognized the phenomenon of corruption as “one of the world’s greatest challenges”, the sole UN principle that addresses this issue is under-developed and is the least among the four focus areas of the Compact (as compared to human rights, labour, and environment). Furthermore, there are even less initiatives undertaken by the UN that specifically address the prevention of corruption in emerging markets, both in business and government sectors. We begin by providing a literature review of past research in our topic area, followed by a theoretical analysis of the causes of corruption in emerging markets. As part of this theory, we have identified five variables that are our focus: level of poverty, cultural boundaries and differences, access to education, amount of extortion and bribery in government and business, and level of transparency and accountability. Using these variables, we arrive at new conclusions and then provide a discussion on their implications for international managers. Throughout the paper, we also explore the magnitude of the effects that have resulted from the addition of Principle 10 to the Global Compact. Introduction A......

Words: 4358 - Pages: 18

Premium Essay

Recent Banking Sector Reform in Nigeria–Implications for Employees

... 2009 and oil prices were down — always a harbinger of hard times coming for Africa's top oil producer. The current bank crisis emanated from greed and destructive capitalism of infinitesimal populace orchestrated by unguided bank reform of the then CBN Governor, Professor Charle Soludo. This position is succinctly narrated by the analysts and scholars as follows: According to Nigerian business journalist, Dayo Coker(2010): “It was simply greed and destructive capitalism.” He continued: “There was a chance to make millions and people seized it. The regulators failed the people.” Long before they failed the people, however, Nigeria's regulators inspired them with a plan to overhaul their convoluted banking system, and open Nigerian finance to the world. In 2005, then-Central Bank Governor Chukwuma Soludo whittled down Nigeria's 89 small-scale banks to a handy 25. The new banks born of Soludo's consolidation were bigger, broader in scope and had much more credit to lend — but fewer checks on how to lend it. That's where the problems began. “The people trying to do that process didn't realize they were creating mammoth institutions without really taking the time to double check the new freedoms offered to those in charge,” said economist Adama Gaye, chairman of Newforce Africa Consultants in Senegal. Soludo's consolidation worked, at first. The simplified...

Words: 5336 - Pages: 22

Premium Essay

Business Management

...SAGE India website gets a makeover! Global Products Enhanced Succinct Intuitive THE Improved Interactive Smart Layout User-friendly Easy Eye-catching LEADING WORld’s LEADING Independent Professional Stay tuned in to upcoming Events and Conferences Search Navigation Feature-rich Get to know our Authors and Editors Why Publish with SAGE ? World’s LEADING Publisher and home and editors Societies authors Professional Academic LEADING Publisher Natural World’s Societies THE and LEADING Publisher Natural authors Societies Independent home editors THE Professional Natural Societies Independent authors Societies and Societies editors THE LEADING home editors Natural editors Professional Independent Academic and authors Academic Independent Publisher Academic Societies and authors Academic THE World’s THE editors Academic THE Natural LEADING THE Natural LEADING home Natural authors Natural editors authors home World’s authors THE editors authors LEADING Publisher World’s LEADING authors World’s Natural Academic editors World’s home Natural and Independent authors World’s Publisher authors World’s home Natural home LEADING Academic Academic LEADING editors Natural and Publisher editors World’s authors home Academic Professional authors Independent home LEADING Academic World’s and authors home and Academic Professionalauthors World’s editors THE LEADING Publisher authors Independent home editors Natural...

Words: 63606 - Pages: 255

Premium Essay

Business Administration

...MBA Programme....................................................16 a. Structure of MBA Programme........................17 b. Semester-wise Breakup for MBA...................19 5. MS in Management Sciences................................20 a. Structure of MS Programme...........................20 b. Eligibility for Non-business Degree Holders...21 6. Roadmap for Business Education…………............24 7. BBA Course outlines...............................................25 a. Compulsory Courses for BBA...…….…..........25 b. Foundation Core Courses...........…....…....... 41 c. Major Core Courses........................................59 d. Major Elective Courses...................................75 e. Management Specialisation Courses..............89 f. Marketing Specialisation...............................105 g. Finance Specialisation..................................105 8. BBS Course outlines..............................................116 a. Core Courses................................................116 b. Elective...

Words: 58162 - Pages: 233

Free Essay

Customer Satisfaction

...advised to consult with their departmental academic advisors at least once per semester, regarding their course of study. The policies, rules and regulations of the College are informed by the laws of the Republic of Trinidad and Tobago. iii Table of Contents PG 9 PG 9 PG 10 PG 11 PG 11 PG 12 PG 12 PG 13 PG 14 PG 14 PG 14 PG 14 PG 15 PG 17 PG 18 PG 20 PG 20 PG 20 PG 21 PG 22 PG 22 PG 22 PG 23 PG 23 PG 23 PG 23 PG 24 PG 24 PG 24 PG 24 PG 25 PG 25 PG 25 PG 26 PG 26 PG 26 PG 26 PG 26 PG 26 PG 27 PG 27 PG 27 PG 27 PG 27 PG 27 PG 28 PG 28 PG 28 PG 28 PG 28 PG 33 PG 37 Vision Mission President’s Welcome Institutional Profile Management Structure Registered Status and Accreditation Candidacy Commitment to Quality and Continuous Improvement Core Values General Information Equal Opportunity Disability Right to Privacy Campus Safety and Security How to Use this Catalogue List of Programmes Admissions Four-tiered Admissions Process Prior Learning and Assessment (PLA) How to Apply...

Words: 108220 - Pages: 433

Premium Essay


...(Algeria) and Rheims (France) and five more in tender. * As more sites are coming on line this is leading to problems for Alstom TGS maintenance. As they are having to set up organisations from the ground up in these new countries and having to adopted to the different countries and trying to adopt the best practices into these new sites and learn from the mistakes on other sites. * To counter this Alstom TGS France have setup a program called the IM2k (infrastructure mobilisation maintenance kit) program to try to rectify this problem this is a mobilisation kit for new projects. The IM2K takes the best practices from all the sites and put them together to create a kit for the start-up of new project. This covers every angle of HR, Finance, Engineering, Legal and production. But one part they don’t look into is the importance of culture within an organisation. Research This distraction will be into the importance of setting up the right culture within an organisation at the start. The title will be “Getting Culture right at the Start” Research...

Words: 10020 - Pages: 41

Free Essay

Business Correspondence

... The first part is dedicated to business communication and the second to business correspondence. The special features found in this edition are: 1. Examples of effective letter writing. Studies have shown students studying written business communication can learn as much, if not more, from ineffective examples of written communication as they do from effective examples. 2. Varied application problems in the writing-oriented chapters. The number of problems has been increased. While the majority of problems require the writing of a letter or report, some are designed to give students an opportunity to develop the often overlooked skill of editing. 3. Many new application problems in the non-writingoriented chapters. 4. New topics, such as nonverbal communication language, various types of speeches and presentations. 4 Part 1 BUSINESS CORRESPONDENCE 1. The Business Letter 1.1. The Lay-Out of the Letter Subordinated to the aim envisaged by the...

Words: 59343 - Pages: 238

Premium Essay


... COMPLETENESS 2.3 CONCISENESS 2.4 CONSIDERATION 2.5 COURTESY 2.6 CORRECTNESS 2.7 THE PURPOSE AND VALUE OF COMMITTEES UNIT 3 26 EFFECTIVE MEETINGS 3.1 TYPES OF MEETING 3.2 VIRTUAL MEETINGS 3.3 PLANNING A PROBLEM SOLVING MEETING 3.4 SETTING AN AGENDA UNIT 4 32 DEVELOPING THE PRESENTATION 4.1 INTRODUCTION 4.2 ANALYSING THE SITUATION 4.3 ESTABLISHING A PURPOSE 4.4 DEVELOPING THE THESIS 4.5 ON GIVING A SPEECH 4.6 PROFILE OF A GOOD SPEAKER 4.7 PLANNING TO SPEAK UNIT 5 41 THE ART OF WRITING 5.1 WRITING WELL 5.2 MEMOS & LETTERS 5.3 THE BUSINESS LETTER 5.4 E-MAIL 5.5 WRITING FOR EMPLOYMENT 5.6 TYPES OF CVS 5.7 ELECTRONIC CVS 5.8 JOB APPLICATION LETTERS 5.9 REPORTS BIBLIOGRAPHY 67 INTRODUCTION Welcome to the next module of your course of study in commerce. The purpose of the this module is to familiarize you with some key issues underlying the notions of communications – a very important aspects of any successful business. The first unit is about understanding ‘business communication skills’. We will see why good communication is important in business. We will examine some of the barriers to communication and how can they be overcome. We will also look at what is meant by non-verbal communication, networking and face-to-face communication...

Words: 26105 - Pages: 105

Premium Essay


...2014-2015 Undergraduate Academic Calendar and Course Catalogue Published June 2014 The information contained within this document was accurate at the time of publication indicated above and is subject to change. Please consult your faculty or the Registrar’s office if you require clarification regarding the contents of this document. Note: Program map information located in the faculty sections of this document are relevant to students beginning their studies in 2014-2015, students commencing their UOIT studies during a different academic year should consult their faculty to ensure they are following the correct program map. i Message from President Tim McTiernan I am delighted to welcome you to the University of Ontario Institute of Technology (UOIT), one of Canada’s most modern and dynamic university communities. We are a university that lives by three words: challenge, innovate and connect. You have chosen a university known for how it helps students meet the challenges of the future. We have created a leading-edge, technology-enriched learning environment. We have invested in state-of-the-art research and teaching facilities. We have developed industry-ready programs that align with the university’s visionary research portfolio. UOIT is known for its innovative approaches to learning. In many cases, our undergraduate and graduate students are working alongside their professors on research projects and gaining valuable hands-on learning, which we believe is......

Words: 195394 - Pages: 782

Premium Essay

Leadership Development - Doe

...accomplishing, and also where it’s accomplished. We have a more highly educated workforce, yet face diminishing resources with an increased demand for productivity, and the essential services we provide to the American public. To be successful at navigating these challenges leaders must develop the essential skills to motivate their employees, effectively communicate with others, fine-tune critical thinking skills, and build and leverage partnerships. Future leaders must also be visionary; i.e., possess the ability to identify trends and the courage to be innovative. Being technically adept in your field will no longer be enough. In response to these demands on senior executives, the U.S. Office of Personnel Management identified five Executive Core Qualifications (ECQs) that all aspiring government leaders and executives must possess. These ECQs and Fundamental Competencies were developed by OPM after extensive research on the attributes of successful executives in both the private and public sector. The ECQs represent the best thinking of organizational psychologists, human resources professionals, and members of the federal Senior Executive Service. * * How to use this catalog: The “Leadership Development Seminars January 2013-2014 Edition” and Readings by ECQ is a comprehensive, (although not all-encompassing) list...

Words: 181771 - Pages: 728

Premium Essay

Mba Syllabus

...Management Management Information System Marketing Human Resource Management Production And Operation Management Legal Aspects of Business Semester- III Summer Internship (8 weeks)(Practical) Entrepreneurship Strategic Management Business Analytics (Practical) Elective-1 Elective-2 Elective-3 Elective-4 Semester- IV Elective-5 Elective-6 Industrial Elective (Practical) Total Credit L 0 2 3 2 2 0 T 0 4 0 2 4 0 P 4 0 0 0 0 6 C 2 4 3 3 4 3 19 4 3 4 2 4 3 20 2 3 3 2 3 3 3 3 22 3 3 5 11 72 MB 13207 MB 13208 MB 13209 MB 13210 MB 13211 MB 13212 MB 13313 MB 13314 MB 13315 MB 13316 2 2 3 2 3 2 0 2 2 0 2 2 2 2 2 2 0 4 2 2 0 2 2 0 2 2 0 2 2 2 2 2 2 0 0 0 0 0 0 0 4 0 0 4 0 0 0 0 0 0 10 MB 13417 Functional Electives Marketing Finance Systems Human Resource Operations Vertical Electives Pharma Hospitality Enterprise Resource Planning Agriculture Hospital and Health Care Retailing Auto Industry Project Management Media and Communication Banking Financial Service Insurance   2 MB 13FM01 MB 13FM02 MB 13FM03 MB 13FM04 MB 13FM05 MB 13FM06 MB 13FM07 MB 13FM08 MB 13FM09 MB 13FM10 MB 13FM11 MB 13FM12 MB 13FM13 MB 13HR01 MB 13HR02 MB 13HR03 MB 13HR04 MB 13HR05 MB 13HR06 MB 13HR07 MB 13HR08 MB 13HR09 MB 13HR10 MB 13MM01 MB 13MM02 MB 13MM03 MB 13MM04 MB 13MM05 MB 13MM06 MB 13MM07 MB 13MM08 MB 13MM09 MB 13MM10 MB 13MM11 MB 13MM12 MB 13MM13   MBA- FUNCTIONAL ELECTIVE- 2013-14...

Words: 53231 - Pages: 213