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Krystal has accepted her first job as an accountant with a major corporation in New York. She is very excited. She

has spent a lot of time studying her rules of ethics to make sure she knows her responsibilities. Her friend, Sandy, who was an accountant at a small family-owned firm in North Carolina, told Krystal that all that worry was not necessary. After all, Sandy said, accounting was no more than reconciling the bank statements whenever you could "get to it!"

Is Sandy correct? Why or why not? Should Krystal accept this advice? What is accounting? What are ethics? How do accounting and ethics relate? Give an example.

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