• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Ethical behavior is just as important as competence in the accounting and financial field.

Extracts from this document...

Introduction

Ethics Article Keneisha Dunlap University of Phoenix FIN-324 GA04BSMO9 Emmanuel Ogunji October 5, 2005 Financial Translations Four Corners article assist stakeholders with the understanding finance and financial statements, the four corners represent the four basics of financial statements. The first corner is the balance sheet, which is a statement of equity that includes assets, stockholders, and liabilities. The balance sheet must give an account of the total assets and total liabilities. The balance sheet is usually done quarterly or per fiscal year. The second corner is income statement. The income statement is reviews a company's revenues and expenses, they also project sales, expense, profit or loss. ...read more.

Middle

For example, depreciation has been implicitly included in fixed expenses, but it represents a non-cash accounting entry rather than an explicit expenditure of funds. To the extent that we were doing break-even analysis on a strictly cash basis, depreciation would be excluded from fixed expenses. While cash break-even analysis is helpful in analyzing the short-term outlook of the firm, particularly when it may be in trouble, break-even analysis is normally conducted on the basis of accounting flows rather than strictly cash flows. Within every organization someone's has to keep track of the money. At my previous organization that would be me, I was a director for an after school/ day camp programs. ...read more.

Conclusion

For example the organization had nine centers that operated whenever there was an event that all nine centers interacted together, all nine accounts were charged. This happen sometime knowingly, and sometimes directors were unaware until they received a receipt for expenses after the fact. Ethical behavior is just as important as competence (Williams, 2003). In the accounting, and financial field it is important of have honesty and a strong commitment to ethical behavior. As stated in the New York Times (2002), by "outlining inappropriate behavior in a code to avoid future problems can be a healthy response to an ethics problem. But if the code is 'inconsistent with the culture as employees perceive it, then it appears to be only window dressing and hypocritical. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Accounting & Finance section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Accounting & Finance essays

  1. The concept of financial statement

    For e.g. if liability has been estimated to be between �250 and � 500, the accountant will make provision for the highest estimate on the basis of prudence. 5. Separate Determination: It means that the amount of any individual asset and liability that falls to be taken into account shall be determined separately.

  2. Financial Analysis of Matalan PLC

    Provision is made for deferred tax under the liability method at the tax rate anticipated at the reversal date on all material timing differences to the extent that it is probable that a liability or asset will crystalise. Under the liability method, whenever there is a change in the rate

  1. International Accounting Standarts

    However, covering fiscal demand, the company's interests may be lead by over-evaluation of provisions, what may deform the real actual situation. 2) In German HGB also internal accruals10 can be listed. IAS: IAS regulation guidelines (also US-GAAP) are much fixer than in the German commercial law.

  2. The Purpose of Keeping Accurate Accounts

    Final accounts have to be verified by external auditors, by law. Most companies have an internal auditor as well. The sole trader has to have accounts verified, by law. A non profit organisation may have their final accounts verified, but it is not a legal requirement.

  1. This report has been produced as evidence for Unit 9 - 'Financial Services' - ...

    What is the meaning of APR? The APR is the figure which takes into account of interest that is paid and other fees (including arrangement fees for setting up loans e.g. mortgages). An APR also takes into consideration when and how often interest charge must be paid.

  2. Unit 5 Introduction to Accounting

    * Keep all the profit - as the owner, all the profit belongs to the sole trader. * Business affairs are private - competitors cannot see what you are earning, so will know less about how the business works and how it succeeds.

  1. Investigating financial control for a new restaurant.

    because if you sell a lot then the more raw materials you would need that would increase the price of purchase while if you don't sell then you would need to minimise your purchasing. Fixed cost is the cost that does not change regarding the output e.g.

  2. What does Finance involve.

    Treatment and massaging couch 2 �240.00 �480.00 www.midwestsalon.com Midwest salon offers better chair couch as the prices are lower then buying on EBay and Tree hugger. Sinks 2 �159.88 �319.76 www.ebay.com Sinks form EBay are the colour which I would like for my shop and also they are the right

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work