Business ethics contributes to more benefits. Business ethics could become a standard to achieve advantages, cultivate team work of employee, productivity, moral and development, establish values for quality management, strategic planning and diversity management. Business ethics help the company to be survival of fierce competition. Business ethics have competitive advantages which involves effective building of relationships with the company’s stakeholders, which based on its integrity. Business ethics promote ethical behavior to protect business from abuse by unethical competitors.
Introduction Professional accountants have a key role in keeping, auditing and inspecting the financial records of individuals or business concerned and preparing the financial and tax reports. It has a unique characteristic which includes the public interest. Whilst acting in the public interest, a professional accountant has certain rules or code to act in accordance with. Ethical behavior is inherent in the practice of accounting due to responsibilities the profession has toward serving clients, the public and fellow practitioners. This ethical behavior is reflected in the code of conduct in diverse accountancy professional organizations.
Be that as it may, people in general accounting calling has since a long time ago depended on its notoriety for respectability and veracity as legitimization for its expert status and restraining infrastructure benefits in view of cases of acting in the general population intrigue. In the event that such status and benefits are to be supported and maintained, it turns out to be morally basic for the calling to give genuine thought to what constitutes moral conduct, how such conduct is spurred, and what rights and interests of influenced gatherings may
Considering that accountants deal with the center of companies and organizations accountants owe a fiduciary responsibility to act professionally and in the best passions of their employers. Knowing the basics of professionalism in accounting is important part of accounting education. Ethical business techniques are an inseparable element of professionalism in accounting. Operating with money and financial reporting generates several chances for unethical behaviors, such as theft and fraud. Even though government organizations regularly work to identify and address areas of ethical concern in accounting, all accountants have an obligation to act ethically regardless of what doubtful behaviors the law may allow.
The role of ethics, values, and integrity in accounting has been pushed aside to focus on the technical basics. Business schools seem to be involuntarily overstressing on technical accounting knowledge. Although many still doubt the validity of teaching ethics in classrooms, we believe that the approach of including ethical education in higher accounting classes is enviable. Yet, the subject here is not only whether the level of ethics among students should be raised, but also how to teach these courses. Offering business ethics as a stand-alone course or integrating it across the curriculum has initiated much discussion.
Abstract This paper explores the ethics of accounting and why ethical behavior in accounting professions is important to different stakeholders in business. An accounting scandal will be examined for unethical behavior. New regulations and reforms that have been introduced to help combat unethical behavior will also surveyed. In closing this paper will consider the biblical implications of accounting. Ethics in Accounting Importance of The Accounting Profession Accounting is important in business so that management, creditors, investors, potential investors and other consumers of a company’s financial data can make informed decisions.
Working in accounting department means that all accountants are fully responsible for each work they produce and the report they give to their managers that shows the financial statement for each period. Accountants should follow the law and the basics of accounting ethics and their function, to avoid legal and financial trouble and be legally defensible in case the auditor comes to check the accounts that had been entered in the system and check if the accountant are following the ethics procedures and working legally. If the business didn’t hire a professional accountant who collect and presents data in the clearest and most accurate way possible to show it to the government if needed. “My accounts, which I can swear to have kept faithfully, I have, indeed, never got audited, still less accepted, still less paid and settled” (Previts, 1976). These quote show that accountants are honest in following their morals and
There are only a few rare cases where one may act selfishly in ethics, but normally the goal is to always cooperate in a high ethical manner. The purpose and necessity of ethics in business, in medicine, in politics and overall is to live a full life, a bold life without contradiction, negative energy, and chaos. God does not operate in chaos and confusion and a life without ethics is only chaos and confusion. Ethics is wholly rooted in the character of God (Rae, S. 2009), so to adopt a life of ethics is to follow God’s divine commands and walk like Christ. “And whatever you do, in word or deed, do everything in the name of the Lord Jesus, giving thanks to God the Father through him.” (Colossians
Question 1: Business ethics mean acting in right way which involves distinguish between right and wrong. Applying ethical way is applying in any organization is very important that will reflect an individual 's moral judgment about right and wrong. However, any decision taken within an organization may be made by individuals or groups, so who makes this decision will influence by his/her culture the company. These will bring so many benefits to a business, for example that will attract customers to the products, Secondly, make employees want to stay with the business, reduce labour turnover and therefore increase productivity. Attract more employees who want to work for the business, will attract many investors and keep the company share its price high that will help or protect the business from takeover.
The ethics influence and contribute to employee commitment , investor and customer loyalty and confidence , legal problems and penalties , customer satisfaction the ability to build relationships with stakeholders , cost control performance , reputation and image , leaderships ethics and ethical organizational culture . These elements are part of the ethics in the organizational without the ethics business it cannot working in smooth way. The ethics between the all stakeholders are important, and it will tell you what to do or what do not to do what the ethical and what unethical like be honest with your customer and do not but your employees under pressures. The ethics very important it organized the