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Review of Accounting Ethics - Research Paper Example
Finance & Accounting
Pages 5 (1255 words)
Review of Accounting Ethics Name: Institution: Ethics, in general, have different meanings in various disciplines. In this context, business ethics implies the rules and codes that the organizations and the accountants have to follow at work places. A business transaction is governed by these codes and anything contrary is a breach (Brooks & Dunn, 2009)…
This paper seeks to find out the codes of ethics governing a business, its implications and the measures that needs to be taken to control the cases of employees breaching ethical codes. The current business and regulatory ethics The current environments are fairly conducive for business especially the accounting sector. Fast and former most, there is much pressure from the management. The companies and organizations put very high expectations that are next not impossible to reach. Accountants work extra hard to create financial statements like the balance sheets, trial balance, income statements just to mention but a few (Brooks & Dunn, 2009). These statements require a lot of keenness and a slight mistake can lead to tragedy. On issues that concern assets, the accountants are to give the correct figures on the asset in question. If the accountants are unsatisfied and put under fire by the management, alterations on the figures may occur. They can give figures that please company owners but in the long run, the company will realize a downfall if they are not careful. Accountants are usually faced with complicated accounting systems that are difficult to follow and use. Some organizations use accounting systems that are too clumsy to use. The accountants are prone to errors like omissions and technical mistakes (Knapp, 2011). ...
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