Business Essentials (12th Edition) (What's New in Intro to Business)
12th Edition
ISBN: 9780134728391
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
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Question
Chapter 15, Problem 15.31C
Summary Introduction
Case summary:
The case deals with the future directions for the modern accountant. The role of the traditional accountant was analyzing past data, providing interpretation of financial data, and creating financial statements. The roles of modern Certified Public Accountant are demonstrating financial implications for overall operations, human resources, technical resources, data management, and strategy.
The trends that are emerged to the additional roles of the modem accountant are as follows:
- Project management in the expanded role of an accountant
- Social media has changed relationships and the way business is conducted
- Effectiveness as a communicator is a must for the accountant
- Fewer restrictions from physical and geographic boundaries.
To determine: Whether the emerging role of the modern accountant brings with it a greater emphasis on ethics.
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Chapter 15 Solutions
Business Essentials (12th Edition) (What's New in Intro to Business)
Ch. 15 - Prob. 15.1QRCh. 15 - Prob. 15.2QRCh. 15 - Prob. 15.3QRCh. 15 - Prob. 15.4QRCh. 15 - Prob. 15.5QRCh. 15 - Prob. 15.6QACh. 15 - Prob. 15.7QACh. 15 - Prob. 15.8QACh. 15 - Prob. 15.9AECh. 15 - Prob. 15.10AE
Ch. 15 - Prob. 15.11ACh. 15 - Prob. 15.12ACh. 15 - Prob. 15.13ACh. 15 - Prob. 15.14ACh. 15 - Prob. 15.15ACh. 15 - Prob. 15.20EECh. 15 - Prob. 15.21EECh. 15 - Prob. 15.22EECh. 15 - Prob. 15.23CCh. 15 - Prob. 15.24CCh. 15 - Prob. 15.25CCh. 15 - Prob. 15.26CCh. 15 - Prob. 15.27CCh. 15 - Prob. 15.28CCh. 15 - Prob. 15.29CCh. 15 - Prob. 15.30CCh. 15 - Prob. 15.31C
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Similar questions
- Ethics is important in today’s Business environment. Provide reasoning to support this statement and explain with the help of examplesarrow_forwardPlease solve all questions please recall the following declaration: “the general public's perception of company ethics changed dramatically with the revelation of the unethical selection-making at Enron, WorldCom, Adelphia, Tyco international, Peregrine systems and iVillage. The scandals took a toll on purchasers' confidence and portfolios, and undermined their religion inside the accounting career. company stakeholders have referred to as for more transparent financial reporting and evidence of higher ethical behavior”. Required: a. dicsuss and give an explanation for four (four) underlying problems that lead to the dilemma. b. Describe 3 (three) broad categories of fraud schemes that can arise base on the scenarioa above supply one example for each class.arrow_forwardWhat are the ethical values that are needed in an accountant as well as in an auditor?arrow_forward
- 1. Various societies hold different opinions on what ‘should be’ regarding ethics. Discuss the following ethical schools of thought (Utilitarianism, Deontological, Ancient Hedonism, Ethics of Responsibility, Ethics of reckoning, situation, empiristic, casuistic and ethics by norm and principles) and carefully explain how these schools of thought have shaped financial ethics. 2. Also identify which of these ethical schools of thought shaped financial ethics the cost.arrow_forwardPlease answer to quetion No.1 1. What were the responsibilities of the accountants at Arthur Andersen? To whom did they owe these responsibilities? 2. Who was harmed by the insider trading of Enron executives? What harm, if any, was done to employees who were prevented from selling Enron stock in their 401(k) accounts?arrow_forwardWhich of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powersarrow_forward
- 2. What fundamental ethical principles for accountants are most applicable and is there an apparent conflict between them?arrow_forwardwhat are ways the external auditor's responsibilities regarding a public company's system of internal controls have changed since SAS 78 became effective in the late 1990s. Were these changes necessary? Do you believe the changes have been effective at reducing risk for the company and the users of the financial statements? Explain your rationale.arrow_forwardWhy is an auditor’s independence so essential?arrow_forward
- Conclusion about Internal Auditors versus External Auditors: Who are the better advocates for Good Corporate Governance? Why? PLEASE ELABORATEarrow_forwardEthical Considerations. How did the decoupling ofrisk and reward contribute to the problems in the subprime mortgage industry?arrow_forwardWhat is financial accounting? How does it differ from managerial accounting? Why is this important to know?arrow_forward
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