Preview

Acc225 Week1

Satisfactory Essays
Open Document
Open Document
15053 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Acc225 Week1
Week 1 DQ 1 - Due day 2 – 4/23/13 * Post New Thread * Print Page * Close Window
Posted: 4/21/13 11:21 AM, by: Heidi Chronister (HChronister1@email.phoenix.edu)
Week 1 DQ 1
Please post a 150-300-word response to the following discussion question by clicking on Reply. · Read the Where Were the Accountants? Ethics Case on pp. 36-37 (Ch. 1) of the text. Answer the question as if you were Sam. Respond to your classmates as if you were Norm. How helpful are your classmates’ responses?

Heidi Chronister
Faculty
University of Phoenix
HChronister1@email.phoenix.edu
Posted: 4/22/13 7:40 AM, by: David Fryoux (djfryoux@email.phoenix.edu) If I were Norm, I would tell Sam that “the best thing to do is what you have studied to do. Don’t worry about fraud, unless you suspect it. You are an accountant, do what accountants do. If you see something that does not look right, then you can deal with it. You shouldn't’t allow the actions or non-actions of others deter you from doing what you are to do. You cannot hod your expectancies to others. You are learning to use expertise in measurement and disclosure, it is good that you see faults in others, but it should not change your mind on what you are studying for.” If I were Sam, I would tell Norm, “Integrity in this line of business is what is at stake, regardless of what others are doing or overlooking, I am going to be the best accountant I can, and since I can see what is going on with these other guys, I am going to maintain my integrity and character, and do what I am studying to do.”

David J. Fryoux djfryoux@email.phoenix.edu djfryoux@yahoo.com (alternate)
CST
318-403-0817
I'm also on FaceBook
Heidi Chronister wrote:
Week 1 DQ 1
Please post a 150-300-word response to the following discussion question by clicking on Reply. · Read the Where Were the Accountants? Ethics Case on pp. 36-37 (Ch. 1) of the text. Answer the question as if you were

You May Also Find These Documents Helpful

  • Satisfactory Essays

    WEB 236 Week 1 DQ 1

    • 430 Words
    • 2 Pages

    In this file of WEB 236 Entire Course you will find the next docs: WEB 236 Week 1 DQ 1.doc…

    • 430 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    week 3 assignment

    • 832 Words
    • 3 Pages

    References: 1. Ethical Obligations and Decision in Accounting Shawn M. Mintz and Roselyn E. Morris page 72…

    • 832 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Kermis G.F. and Kermis M.D. stresses that “Accountants’ failure to reflect ethically on the dilemmas they encounter in their work may lead them to make wrong decisions” (Senaratne, 2013). For this reason, ethics guides accountants and other makers of the corporation’s financial reports to include findings and data based on relevant sources. Top managers directed by ethical values develop effective leadership skills as well (Duggar, 2011). In this case, employees respect, trust and believe in them. Thus, it will lead to accountable financial statements that the corporation can use to make better decisions for the sake of the business in the distant future. These financial statements can be beneficial to other professional and to some practicing accountants as well.…

    • 414 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Fp101 Week 1 Dq Answers

    • 1549 Words
    • 7 Pages

    Post a 150- to 300-word response to the following discussion question by clicking on Reply:…

    • 1549 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    The special responsibility of self-governance is admonished for the members of a group. The second article reminds the professionals the main reason of the accounting professional in states that the accountants are only responsible for serving the interests of the public and that is their main priority. The article further clarifies that public interests refer to the interests of the investors, governments, credit grantors, employees, business and financial community and the clients. Furthermore, this also includes all those who rely on the services of the financial accountants, and these accountants are obligated to rely on integrity and objectivity to perform their duties and to main orderly functioning of commerce. The accountants are obligated to be dedicated towards professional excellence as the public relies on accountants. The accountants should also act with integrity as highlighted by Article III. All work done by the accountant should be without deception and completely honest. The obligation of client confidentiality is extremely important, and it should never be compromised by the accountant. Deontologists’ ethical practice is applied here that highlights that betraying confidentiality is wrong no matter how much happiness can be maximized by breaching it (Armstrong et al. 2003). All those acting with integrity will keep…

    • 1629 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Ethical issues surround all parts of the accounting profession. A case regarding providing tax advice demonstrates a prevalent ethical circumstance. In the case presented in the Brooks and Dunn text, two female accountants discuss the areas of accounting in which they practice, Sophia concentrating on not-for-profit, as Maya prefers tax accounting. Sophia feels the accounting profession’s top priority is public interest, not profits. She claims tax accounting is using loopholes in the government tax system to save companies money, and put it in the pockets of executives and tax accountants for their own benefit. She feels this takes…

    • 1568 Words
    • 7 Pages
    Good Essays
  • Good Essays

    This paper outlines the ethical dilemmas that an accountant faces when presented with any given project. In this case, Daniel Potter, a staff accountant, is presented with an auditing assignment where he is forced to make the decision to either follow the orders of his immediate authority or the ethical guidelines set forth by auditors.…

    • 956 Words
    • 4 Pages
    Good Essays
  • Better Essays

    In understanding such dilemmas that face accountants in their daily accounting duties, we study critically the case of Daniel potter, a qualified AICPA accountant working at barker Greenleaf Company. Dan has an acute familiarity with most of the professional guidelines that relate to morality as an accountant. This guideline not only defined his academic success but also his dignity as an auditor. However, he is faced with a situation where he is finding difficulty defining one of the ethical guidelines on materiality according to the AICPA guidelines. He clearly indicates that the valuation of the property has been altered and thus undervalued by up to 7% of its initial value. But as his boss, Mr. Freeman asks him to omit his subject-to-opinion proviso, Dan feels the ethical conducts are being violated and thus refuses to alter the financial statement or his recommendations. In light with his superiors opinions, Dan feels the need to be loyal but again he knows very well that the accounting profession must uphold what it believes in and in asking him to give a different opinion on his clients property valuation, he was in violation of such conduct. All accountants should at any one time in the business environment show an unwavering ethical behavior because “significant deficiencies” have been…

    • 1305 Words
    • 6 Pages
    Better Essays
  • Best Essays

    Accountant Responsibility

    • 2438 Words
    • 10 Pages

    Accounting by definition is “The bookkeeping methods involved in making a financial record of business transactions and in the preparation of statements concerning the assets, liabilities, and operating results of a business” (The American Heritage). An accountant’s responsibility is not something that is equally split or separated by category. It is not something that can be defined easily or without a lot of research and thought. An accountant responsibility is said to be between their clients, third parties, and the government itself, but it is also a personal responsibility. An accountant takes trust into their hands from others, and what is done with that trust is how an accountant makes their name. A choice will always have to be made one way or another but the choice should maintain your reputation as a trust worthy, ethical, and legal accountant. When you think of scandals in the accounting industry, what actions come to mind that causes the scandals in the first place? When accountants lie about statements or try to hide money, add money, or change money, usually for the benefit of themselves and others such as CEO’s, right? Well those are what require regulation from the government and accounting responsibilities to be reevaluated.…

    • 2438 Words
    • 10 Pages
    Best Essays
  • Better Essays

    The Big Decision

    • 1329 Words
    • 6 Pages

    An accountant is expected to be both an accountant and a professional. An accountant should follow general professional obligations. After the incidents involving Arthur Anderson, Enron, and WorldCom, the role of a professional accountant was changed. Brooks (2007) stated, “Professional accountants owe their primary loyalty to the public interest, not just to their own financial interests, company directors or management, or current shareholders at the expense of future shareholders.” (Chap. 1, p. 22). Decisions made by executives should reflect their corporation’s ethical values. In knowing this information, the case of Daniel Potter and his employer Baker Greenleaf raises some concern. I will address the dilemmas of the case, the stakeholders involved, and the course of action that Daniel Potter should take. (Brooks, 2007)…

    • 1329 Words
    • 6 Pages
    Better Essays
  • Satisfactory Essays

    Fourth, honoring ethical procedures in managerial accounting cannot be accomplished unless the managerial accountant discloses any and all relevant information available to the…

    • 466 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Professional Behaviour

    • 416 Words
    • 2 Pages

    Behaving legally is the minimum standard of behaviour expected of the ‘ethical’ accountant. Some behaviour, while legal, may still be regarded as ‘unethical’. Many aspects and decisions within accounting roles, at all levels, are not covered by the law. Therefore, in many different situations, the law is not sufficient to guide a professional’s behaviour, but a professional is also expected to behave in accordance with accepted professional principles.…

    • 416 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Communication Case

    • 817 Words
    • 4 Pages

    Handbook of the Code of Ethics for Professional Accountants. (2013). New York: International Federation of Accountants.…

    • 817 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Ethics and Auditing

    • 1675 Words
    • 7 Pages

    As the world of accounting rapidly grows and expands, so does the issues and complications associated with the process. The auditing process is a major part of Accounting. The issues about ethics in relation to Accounting process are becoming a more serious problem in today’s world. The Accounting process is highly sensitive, because it deals with what many people consider one of the most important thing in life: “money” Accounting incorporates a variety of functions- such as auditing- in which activities must be carried out with utmost care, adequacy and most importantly, the appropriate use of ethical judgments.…

    • 1675 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Accounting

    • 499 Words
    • 2 Pages

    The ethical guidelines which accountants are obliged to follow in the conduct of their work are made to combat criticism and gain credibility by preventing fraudulent accounting. Accountants ought to be able to maintain impartiality and independence to create a clear, credible and unbiased audit. Hence, the ethical principles are considered important. This is because the work of accountants requires a high level of ethics since the financial statements prepared and verified by auditors reflect the true and current financial performance of the company, in which the management heavily relies on for decision-making. The public and company need reassurance that those responsible for reporting adhere to high standards in their conduct and professional practice. The ethical guidelines indicate to the accountant what is right and wrong, and aid an accountant in making value-based decision when dealing with issues. According to Wiley (2006), accountants should make ethical decisions and exercise moral judgment in the performance of professional duties. Other than that, high-quality professional standards can be produced with the guidance of code of ethics (International Federation of Accountants [IFAC], 2005). Without ethical guidelines, companies would be manipulating their financial performances due to rising competition in order to meet their analyst forecasts for net income. The involvement in fraud can cause the clients to lose confidence and trust in an accountant, and eventually affecting the company’s performance as well as reputation. In the event the accountants do not follow the ethic guidelines, an accountant can be barred from practicing. An accountant may even be expelled from the professional organization.…

    • 499 Words
    • 2 Pages
    Good Essays