Ethics Article Review Essay

This kind of paper seeks to prepare an assessment an article speaking about ethics in accounting and financial decision making by making a short summary, relating to assigned reading for the week, relating and applying the ideas to current or ex – employer’s corporation, making improvement for the organization using the article as basis and detailing the importance of ethics in accounting and financial decision making.

A description in the 2002 Sarbanes-Oxley act can also be discussed including its influence on accounting and financial making decisions. 2 . Discussion posts 2 . a. Brief Synopsis The article is talking about the value of integrity in accounting and organization. To dramatize its significance in business, it includes cited a story of a number of rich people that may include attained all their financial rewards in business although ended about to die in significantly less meaningful techniques impliedly because of missing the guidelines of ethics.

While the content admits that earning money or perhaps attaining souple may be a suitable goal in operation, there is still the question of how success in measured in the final analysis and for which the experts were quarrelling for souple acquired with honor and if a choice would be made between the two, it could be more considerably better have honor rather souple (Smith and Smith, 2003). 2 . n. Relating to assigned readings About how the article relate to given readings just for this week, it may be argued the article has touched within the importance of guidelines or manuals to actions in business.

Integrity in business might be asserted to become indispensable if perhaps business must attain their goals in harmony to goals of society just like those in economics and politics. installment payments on your c. Application of article to organization Regarding how the moral concepts mentioned on the document may affect this researcher’s former or perhaps current organization, it may be asserted that the universality of principles related to integrity would actually make hard to rule out this researcher’s organization from any of their application.. Since my organization is part of the larger world where everybody else lives, that cannot separate itself from your community getting into unethical issues.

It are unable to even believe any illegal or unethical thing it will do will not matter in a place where there a large number of players who have may be affected by decisions produced. In the same way that a member of world can make a difference for the good of the community so with the failure of just one organization or possibly a person in the organization can easily do for the detriments of several if not every of the associates of the community.

2 . m. Recommendations for improvement of the firm To make tips for improvement with this researcher’s or organization making use of the article while basis, the organization should inspire simple living among its executives in order that they could be even more disciplined in the way the company’s resources are being maintained not only intended for the stockholders but even to every stakeholders who stand to advantages from the observance of honest conduct in the organization. The other stakeholders of course include the employees who aspire intended for long-term career (Sears, 2003), the lenders and lenders who assets need to be guarded as well, buyers who need to acquire their needs and wants for company’s products continuously satisfied and the govt who need to continue making sure payment of taxes and compliance with regulations.

2 . e. The importance of values in accounting and monetary decision making and how the 2002 Sarbanes-Oxley Act affects precisely the same The important of ethics in accounting and financial decision making cannot be under estimated. Without ethics there would be simply no responsibility to get right or wrong work can be demanded from people making decisions. The managers who are thought agents of stockholders would instead enrich themselves with the expense of stockholders investments. On the other hand, these types of stockholders might just exploit whatever they will to the detriment of their main, this time their particular debt capital providers.

The corporation can furthermore treat their employees with disrespect and violate the latter’s in the event that there in no integrity that would information them. Laws and regulations will be too little to exact compliance if perhaps people in the organization are not instilled the proper values when they were even now young in the same manner that it is hard to teach methods to an older dog. The Sarbanes-Oxley Work of 2002 is a traditional example to legislate guidelines of perform that would increase corporate governance (Ali, ainsi que. al, 2006) including a even more strict complying of requirements in managing companies when it comes to financial claims and making sure of moral conduct of external auditors (Bainbridge, 2007).

Although the law is a great act to ethical practice of doing business, the selection to do precisely what is right is still with decision makers who must have the best sense of values pertaining to society. several. Conclusion: Integrity has a purpose to attain. It is a part of a great organization’s life since it is known as a guide to making decisions not only in accounting and finance but possibly to all various other aspect of business operations. A feeling or rightness or wrongness offers a choice and that which can be good is usually incidentally in line with ethics.

While the world appears to be painting exactly what are the standards of its success once actually they may be not the real and long-term ones, values its and principles possess much to supply in making the best decision that may lead genuine and long lasting success to get human existence. The article provides argued that honor is definitely preferable than riches yet riches will not need to be sporadic with wealth as long as they can be ethically acquired. References: Ali, et. approach (2006) Intercontinental Corporate Governance After Sarbanes-Oxley, John Wiley and Kids Bainbridge (2007), The Complete Tips for Sarbanes-Oxley: Understanding How Sarbanes-Oxley Influences Your Business; Adams Media Pep boys (2003) Effective Talent Tactics: Achieving Outstanding Business Effects Through Market-focused Staffing, AMACOM Div American Mgmt Relationship. Smith and Smith (2003) Business and Accounting Integrity, www document LINK, http://acct. tamu. edu/smith/ethics/ethics. htmAccessed September twenty nine, 2008