ETHICS IN ACCOUNTING AND BUSINESS

ETHICS IN ACCOUNTING AND BUSINESS - 1 ETHICS IN ACCOUNTING...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ETHICS IN ACCOUNTING AND BUSINESS “Pray for us. We are sure that we have a clear conscience and desire to live honorably in every way.” Hebrews 13:18 Ethics are the standards of conduct by which one’s actions are judged as right or wrong, honest or dishonest, fair or not fair. Every profession develops a body of theory consisting of principles, assumptions and standards. The accounting profession, through the American Institute of Certified Public Accountants, has set guidelines on what is considered ethical behavior in the business world of accounting. We, as accountants, are often called upon to serve the public and we must have the confidence of the pubic to be successful and honor their trust. 1. Integrity means that the accountant is honest and candid, and performs with the highest sense of integrity. This means not knowingly misrepresenting facts to others. 2. Objectivity means that the accountant is impartial and free of conflicts of interest. 3. Due care means that the accountant must strive continually to be competent, to improve competence, and be alert and diligent in all situations. 4. Confidentially means that the inside information found in your job should at all times remain in your confidence. Loose talk by accountants concerning accounting information indicates a lack of ethics. The above listed standards are not just applicable to accountants, but to all people in business. ETHICAL DILEMMAS In the business world, everyone is faced with certain ethical dilemmas that will greatly affect their future. While personal ethics may vary from individual to individual, at any point of time, many in our business society are able to agree as to what is
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/26/2012 for the course ACCT ACCT210 taught by Professor Challanworthington during the Spring '10 term at S. Alberta Tech.

Page1 / 6

ETHICS IN ACCOUNTING AND BUSINESS - 1 ETHICS IN ACCOUNTING...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online