EBK CFIN
6th Edition
ISBN: 9781337671743
Author: BESLEY
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 1, Problem 15PROB
Summary Introduction
Ethics can be defined as moral philosophy or credo that differentiates right conduct from wrong.
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- How do the concepts of cognitive dissonance and organizational/ethical dissonance relate to whether an accountant might choose to blow the whistle on corporate wrongdoing?arrow_forwardManagers of corporations need to act in an ethical manner O because ethical behavior is its own justification. O because a business must be trusted by investors, customer and the public if it is to succeed. O because business managers must answer to a higher authority. O because ethics violations will be punished by the law.arrow_forwardHow could the presentation of financial information pose an ethical dilemma to a business professional who is attempting to meet the demands of users who are interested in similar information?arrow_forward
- Unethical acts are generally committed by unethical people. What are some things companies can do to help ensure that their employees act ethically?arrow_forward1. Do you think that financial managers should be held to a higher standard of ethical behavior? 2. In the video on ethics and my article from the Conway Daily Sun, there were several examples of unethical behavior, Please discuss a real life example of unethical behavior either from your personal experience or from the news. What do you think can be done to change the unethical behavior, or do you think it can't be stopped?arrow_forwardWhy accountants are not afraid of subjectivity? Theoryarrow_forward
- How does an accounting professional's commitment to the firm, the profession, and to colleagues influence whether he/she will blow the whistle on financial wrongdoing? What other factors, related to organizational culture, could contribute to whether or not a professional decides to blow the whistle on a financial wrongdoing?arrow_forwardIf you are in financial hardship, explain what it means. If we suppose that financial hardship occurs, explain how and why financial distress would make a company's stock more hazardous.arrow_forwardWhich of the following nature of corporate governance damages the financial stability of the business? O a. It is structured ambiguously. Ob. It is compliant with the formal laws. Oc.it is adhering to the ethical standards. O d. It is adhering the best business practices.arrow_forward
- Discuss the importance of ethical behavior in accounting and the consequences of unethical behavior.arrow_forwardAssume that a corporate officer or other executive asks you, as the accountant for the company, to omit or leave out certain financial figures from the balance sheet that may paint the business in a bad light to the public and investors. Because the request does not involve a direct manipulation of numbers or records, would you agree to go along with the request? What ethical considerations exist for you in deciding on a course of action?arrow_forwardWhy is the study of financial management important? Offer examples of how poor financial management can ruin a company. Provide specific real-life examples to back up your assertions.arrow_forward
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